CLAIM #53119 · Starbucks Corporation (SBUX) · 2024Q2 earnings call · Apr 30, 2024 · due Sep 29, 2024
“This year, we will design and build more than 3,000 new stores globally, and we continue to do so in a financially accretive manner.”
Laxman Narasimhan · CEO
In context
“reimagined premium blueberry muffin. And for summer, we're launching a new egg, pesto and mozzarella sandwich. It combines protein with outstanding taste. We're also expanding grab-and-go choices available in our store lobbies to include more vegan, vegetarian and gluten-free options as well as kid-friendly options. Taken together, our partner experience, unique customer experience and our core products are what differentiates us. Our pipeline is significantly stronger than last year, and product builds are being developed with partners and simplicity in mind. We're also investing in our supply chain to lower cost and ensure products are available and in-store for our customers. Lastly, we continue to grow our global store footprint. Our store development capability is a core strength. This year, we will design and build more than 3,000 new stores globally, and we continue to do so in a financially accretive manner. Our new store openings continue to realize strong unit economics. AUVs and ROIs across our portfolio continue to drive strong returns and high incrementality. We're also leveraging learnings from international markets to meaningfully lower breakeven points for store formats scalable in emerging markets. Moving on. Our second strategic pillar is further strengthening and differentiating our leadership position in digital. As mentioned, Starbucks Rewards and the Starbucks app play a central role in driving value for our customers. Our MOP set another record in the U.S., representing 31% of all transactions in the quarter. Our Starbucks Rewards members in the U.S. also grew by 6% over the prior year to nearly 33 million members. The stickiness and evolution of our digital position provides”
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SEC filings for SBUX ↗ · Claim quote is verbatim from the 2024Q2 earnings call.