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CLAIM #53107 · Starbucks Corporation (SBUX) · 2024Q1 earnings call · Jan 30, 2024 · due Sep 30, 2024

But in addition to that, what we're expecting is that we'll continue to see the strength in our in-store and out-of-store operational efficiencies.

Rachel Ruggeri · CFO

PENDING
graded after results covering Sep 30, 2024 are reported

In context

re pointing to is that Q2 will be below our full year guidance ranges on all of our metrics. And then we'll expect to see a rebound and a stabilization in the back half of the year. And that rebound and stabilization will come to from the revenue growth that we're guiding to, so the 7% to 10%. And in that revenue growth range, there is an assumption, even though we've got these plans in place and we expect it will take some time to materialize, there is the impact we have from a strong and growing loyal customer base as well as what we've talked to around the strength in digital and some of the success we're seeing in reinvention. So that's factored in there to give us the confidence to be able to expect that we'll see the flow through from the revenue growth in the back half of the year. But in addition to that, what we're expecting is that we'll continue to see the strength in our in-store and out-of-store operational efficiencies. So we had good success this quarter. We'll expect some of that to continue into Q2 and it'll further into Q3 and Q4. That's how we'll be able to drive to the 15% to 20% on a full year basis. Operator: Thank you. The last question comes from John Ivankoe with JPMorgan. You may ask your question. John Ivankoe: Hi, thank you. It's maybe a related one to the previous, but normally operating companies, when they do reduce revenue, it's pretty customary for earnings to come down along with that. Now, you guys have communicated, I think, $3 billion of cost savings on a three-year basis. I think that's $1 billion on a gross basis on a one-year basis. Can you talk about if there were any cost savings that were pulled forward into fiscal ‘24? Were there any meaningful expenses, maybe discretionary

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SEC filings for SBUX · Claim quote is verbatim from the 2024Q1 earnings call.