“And if I would just add, we continue to believe that channel development will be a mid-40s margin business, which is really strong, and that's what helps us in terms of being able to reaffirm our guidance on a full-year basis.”

In context

“k that's going to moderate through the course of the year. Also, we had strong North American coffee partnership performance in the quarter. Some of that also had some one-to-time benefit as we were standing up a new Coleman. So that will benefit us going forward, but we won't expect some of that to continue. So what I would say is that we benefited from a number of kind of seasonal and onetime factors. We do remain optimistic about the growth and the profile and we'll probably settle into what we have seen in the past. We have a lot of great things coming. We're launching our new Pink Drink, which we talked about at the Investor Day, which should help our ready-to-drink business and our at-home coffee business continues to be strong as we are maintaining number one share. Rachel Ruggeri: And if I would just add, we continue to believe that channel development will be a mid-40s margin business, which is really strong, and that's what helps us in terms of being able to reaffirm our guidance on a full-year basis. Operator: Thank you. Howard Schultz: I'd just add last word. Tiffany Willis: You do. Howard Schultz: Someone told me a week ago, this was my 108th not consecutive, but earnings conference call. I don't know if that's an award or not. But as many people on the phone that I've learned -- I've known many, many years, thank you for your friendship and support of Starbucks. This past year has been a gift for me. And I leave, I think, with the company, with the win that it's back with his tremendous leadership team. And Laxman, I'm thrilled that you're here. So thank you all very, very much. Really appreciate the opportunity, and thank you again for your friendship and support. Thank you. Operator: Thank you. This concludes Starbucks' first quarter fiscal year 2023 conference call. You may now”