● ImportantWorld1 outlet covering thisCalibrating

Here's why a Starbucks bear changed his tune and upgraded the stock

First publishedAug 3, 16:50 UTC

Last updatedAug 3, 19:21 UTC · 8m ago

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Answer

Reported by 1 outlet — CNBC Top News. See all sources ↓

One of Wall Street's biggest Starbucks skeptics is no longer betting against CEO Brian Niccol's turnaround. Melius Research on Monday upgraded Starbucks to hold from sell, saying the coffee chain has finally delivered proof that improving customer traffic is translating into stronger profitability. In recent quarters, one of the debates surrounding Starbucks centered on whether Niccol's Back to Starbucks plan would start translating into an improved bottom line. The strategy includes adding labor through the Green Apron initiative (improved customer service), simplifying the menu by roughly 20%, pulling back on discounting in favor of brand-building, and closing weaker stores while investing in stronger locations.

Read the full report at CNBC Top News ↗

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In brief

What's the story?: One of Wall Street's biggest Starbucks skeptics is no longer betting against CEO Brian Niccol's turnaround. Melius Research on Monday upgraded Starbucks to hold from sell, saying the coffee chain has finally delivered proof that improving customer traffic is translating into stronger profitability.
How widely is it covered?: 1 outlet, average source rating 7.0/10.
When was it last updated?: 8m ago.

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1Coverage
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Here's why a Starbucks bear changed his tune and upgraded the stock
Sources1
TypeCoverage
CNBC Top NewsAug 3, 16:50

Related in the knowledge graph

organizationCEO Brian Niccol's organizationGreen Apron organizationHere's organizationMelius Research organizationNiccol's Back organizationOne organizationStarbucks organizationWall Street's

Sources (1)

Avg source rating 7.0/10

CNBC Top News7

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