“Although I expect our third quarter FY '25 top line to follow normal seasonality.”

In context

“gainst our Back to Starbucks strategy might be more telling at this stage of our turnaround than EPS. We've made tangible progress on all four of our Back to Starbucks pillars. And while the strategy will take time to be fully implemented and produce financial returns, we are laying the foundation for profitable, durable growth. To conclude my remarks on our Q2 results, we remain committed to our capital allocation strategy and continue to invest in our business for high returns, maintain our strong balance sheet, targeting a BBB+ Baa1 credit rating and return cash to shareholders via dividends. Shifting to broader topics. While I know you would like to have some insight into our financial outlook, I'm still learning the business, and it would be premature for me to provide such insights. Although I expect our third quarter FY '25 top line to follow normal seasonality. I recognize our US business drives our results, and it will take time for our Back to Starbucks strategies to be fully implemented in our over 17,000 stores nationally. I know that our shareholders have many questions top of mind, so I will address two topics in detail, tariffs and coffee prices. Starting with tariffs, although the tariff environment continues to be dynamic, we mobilized a cross-functional team and are actively managing and mitigating risks where possible. As it relates to coffee, I'd like to first remind everyone that we source high-quality arabica coffee from 28 countries with the majority of our supply coming from Latin America. Our coffee team is leveraging our global footprint to further diversify and redirect coffee shipments as appropriate. Excluding coffee, our la”