CLAIM #53144 · Starbucks Corporation (SBUX) · 2024Q3 earnings call · Jul 30, 2024

“We're also accelerating the rollout of digital storyboards with target deployment across most US stores in the next two years, a year earlier than originally anticipated.”

Laxman Narasimhan · CEO

How to check this claim

Look at: Digital storyboard deployment coverage across US company-operated stores

It came true if: Digital storyboards deployed in most (>50%) of US stores

Where: management commentary on earnings calls / company disclosures on store technology rollout

Knowable after: 2026-07-30

In context

“nd improve them, including accelerated Siren system deployment. Similarly, we are accelerating the pace of our new-store builds and renovations with 580 net new builds and more than 800 renovations planned in North America for FY 2024. Store development efforts are focused on Tier-2 and Tier-3 cities where we see population growth and forecast both underserved demand and high incrementality. Increasingly, these new-store builds and renovations also include Siren system equipment. In line with prior guidance, we remain on track to deploy equipment in less than 10% of company operated stores by the end of FY 2024 and about 40% by the end of FY 2026. Building on our pilot, Starbucks and Gopuff have agreed to terms for an expanded relationship to open 100 delivery-only kitchens across the US. We're also accelerating the rollout of digital storyboards with target deployment across most US stores in the next two years, a year earlier than originally anticipated. Lastly, we are working on other ways to enhance the cafe experience. This includes new and expanded seating options that elevate many stores, while upholding a safe and inviting place for partners and customers. A key outcome of our operational efforts has been material and sustained improvements to the partner experience. Driven by precision partner-centric staffing and scheduling efforts, we ended the quarter with a new post-pandemic low partner turnover rate, the best shift completion rate in two years and a 13% improvement in average hours per partner, now the highest on record. These initiatives create more stability in our stores, provide more predictability for our partners and sustain our experienced flywheel. Looking beyond our stores, we continue to realize new efficiencies, cos”

Verify independently

SEC filings for SBUX ↗ · Quote is verbatim from the 2024Q3 earnings call.