Coffee chain's 'Red Cup Day' marred as union says baristas at 65 stores across more than 40 cities are striking, but Starbucks says impact is only a fraction of that. ...

IPO & Financial Performance - The company's IPO was oversubscribed and priced higher than the initial range, with the stock popping about 37% higher than the starting point [1] - Same store sales grew almost 11% in the most recently closed quarter [2] - The company aims for long-lasting value driven by baristas [3] Expansion & Growth Strategy - The company expects to open another 30 locations this year and targets 1,000 stores by 2035 [3] - The company plans to grow by 20% per year, focusing on people and concentric circles starting from the seven states in the west [4] - Expansion will continue both east and south in the medium to long term [5] Competitive Advantage & Differentiation - Every store has a drive-thru, and the company leans into order ahead and third-party services [6] - The company differentiates itself through great baristas and the experience they drive, leading to increased visit frequency [6] - Growth is driven by growing transactions, and the company focuses on barista acumen, career paths, and profit sharing for retention [7] Operational Considerations - The company navigates coffee futures price fluctuations by using a medium roast generated from eight different countries, maintaining price neutrality [8] - Founders remain involved and are solid partners, emphasizing the importance of barista-driven experience [9][10] - The company will strategically double down on keeping baristas happy and retained [10]