In the constellation of Surgevesting stars, Starbucks shines bright alongside the powerhouse Surgevesting stocks Nvidia (NVDA), the reigning kingmaker of AI, and Amazon (AMZN), the superstar that needs no introduction. Now, let's dive into the Starbucks saga: it's been simmering under some heat lately, but guess what? We're not losing faith in our coffee champion! Our very own Landon Flesher recently visited a local Starbucks and had nothing but praise for the amazing employees, highlighting their remarkable dedication, enthusiasm, and top-notch service!
Recently, Starbucks workers went on a one-day strike, calling it the 'Red Cup Rebellion.' Unlike some other marathon strikes, this was a concise statement—a quick yet powerful move in their efforts to get a contract.
Now, let’s talk about Starbucks losing its cool spot in China’s coffee showdown. Luckin Coffee, the underdog that bounced back after some hiccups, leapfrogged over Starbucks as the biggest coffee deal in China. Double the stores and a cheese-flavored latte - Luckin’s been on fire! But hey, competition keeps it spicy, right?
But hold your cup! Despite these battles, Starbucks is no underdog. Sales have been strong, and we expect it to continue. In fact, in the 2023 fiscal year, Starbucks crushed it with a jaw-dropping 12% rise in revenue, hitting an eye-watering $36.0 billion record. Strike or no strike, nearly 10,000 stores were still in the game, serving up Red Cup joy to the masses.
Enter Narasimhan, the CEO extraordinaire. He's all about the long game. Starbucks wants to conquer the world, not just with coffee but with pet-friendly stores, curbside pickup, and showing up in grocery aisles. I mean, who knew your coffee run could also be a grocery run, right?
In a nutshell, Starbucks might be sipping on some challenges, but we're sticking by our superstar coffee maker. It's a fighter, innovator, and connector-extraordinaire. So, while everyone's scrambling for their morning caffeine fix, we're sipping on Starbucks, confident in its success!
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