Starbucks Remains One of Our Top Ideas in Restaurants, and We Agree with Ackman's Investment Case
By and large, our positive long-term outlook on wide-moat Starbucks was reinforced by the investment case laid out by Bill Ackman to support his $900 million stake at the Grant's conference on Oct 9. While it won't be an overnight turnaround, we believe the U.S. same-store sales corrective measures were the highlight of the presentation, most notably a focus on premium product innovation and boutique concepts (helping satisfy "experience" customers who have switched to other specialty coffee cha...Starbucks is a roaster, marketer and retailer of coffee. The company's segments are: Americas, which is inclusive of the United States, Canada, and Latin America; International, which is inclusive of China, Japan, Asia Pacific, Europe, Middle East, and Africa; and Channel Development. The company's Americas and International segments include both company-operated and licensed stores. The company's Channel Development segment includes roasted whole bean and ground coffees, Seattle's Best Coffee?, Starbucks- and Teavana-branded single-serve products, a variety of ready-to-drink beverages, and other products sold worldwide outside of the company's company-operated and licensed stores.
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