MAAT INDEX

CLAIM #52882 · Starbucks Corporation (SBUX) · 2022Q3 earnings call · Aug 2, 2022 · due Nov 2, 2023

In July, we committed to a planned expansion that will materially increase our roasting capacity in order to meet the rapidly growing demand for Starbucks Coffee across the region.

Howard Schultz · Interim CEO

PENDING
graded after results covering Nov 2, 2023 are reported

In context

my heart and that no one ever expected us to succeed in. Starbucks is flourishing in Italy. The quality of the coffee, the food and the partner and customer experiences are second to none. Traffic in our Milano Roastery, Starbucks' shrine to coffee, is strong throughout the day, driven largely by tourist activity. But most importantly, traffic in our Italy retail stores is largely local customer driven. And when I was there, what I observed is Italians drinking straight espresso at Starbucks. We are being warmly welcomed in Italy, the country in which our Starbucks journey literally began. Given the success we are enjoying in Milan, we are now planning to open in Rome and in Florence. As home to our EMEA roasting operations, Amsterdam is a strategic foothold for our international efforts. In July, we committed to a planned expansion that will materially increase our roasting capacity in order to meet the rapidly growing demand for Starbucks Coffee across the region. Similar efforts are underway to support a supply chain team that currently handles logistics to over 4,000 stores across 42 countries in EMEA. In Switzerland, we held highly productive sessions with our partners at Nestle. Global Coffee is among Nestle's largest strategic growth categories and our partnership with Nestle now extends across 81 markets focusing on at-home coffee and food service channels. Building on our number one share position in the United States at home, retail and CPG coffee channels, we are in the very early stages of leveraging the Starbucks brand and Nestle's global coffee platforms and significant distribution capabilities to create new super premium coffee occasions on the espresso platform all around the world. Our partnership with Nestle is driving meaningful c

Verify independently

SEC filings for SBUX · Claim quote is verbatim from the 2022Q3 earnings call.