Core Insights - Starbucks is showing early signs of revival after several challenging quarters, with management outlining progress under the "Back to Starbucks" turnaround strategy [1] - The company's stock is down 11% year-to-date, raising questions about whether this dip presents a buying opportunity [1] Financial Performance - Starbucks reported a 5% increase in global revenue in Q4, reaching $9.6 billion, driven by 2% net new company-operated store growth and 1% global comparable store sales growth [3] - This marks the first quarter of positive global comparable sales in seven quarters, indicating a potential recovery [3] Regional Performance - North America showed improvement with flat year-over-year comparable sales, contrasting previous declines, and September saw nearly 1% transaction-led comp growth due to the new Green Apron Service standard [4] - The international segment performed strongly, with a 9% year-over-year revenue increase to $2.1 billion in Q4, and full-year international sales reached an all-time high of $7.8 billion [5] Market Specifics - In China, Starbucks experienced 2% comparable sales growth and a 9% increase in transactions, with the portfolio surpassing 8,000 stores [6] - Management expressed optimism about long-term growth prospects in China and is seeking strategic alliances to attract investment while maintaining significant interest [6]

Core Viewpoint - The new CEO Dan Schulman has committed to implementing "bold and fiscally responsible action" to revitalize the wireless carrier's performance [1] Group 1 - The company is facing challenges and is in need of a strategic turnaround to improve its market position [1] - Schulman's leadership is expected to bring a fresh perspective and innovative strategies to address existing issues [1] - The focus will be on balancing aggressive initiatives with financial prudence to ensure sustainable growth [1]