Will This Small Change Boost Starbucks' Share Price?
With sales yet to fully recover in the U.S., it's no surprise Starbucks (NASDAQ: SBUX) shares are still down year to date. The ubiquitous coffee chain took a huge hit when the coronavirus pandemic caused a work-from-home trend that disrupted when and how people consume their daily coffee. Although comparable sales continue to show sequential improvement month after month, management still thinks more can be done to bring revenue back to pre-COVID levels.
"We anticipate that comparable store sales will substantially recover in China and the U.S. in fiscal 2021 by the end of our first quarters and second quarters, respectively," said CFO Patrick Grismer on the most recent earnings call. Handheld point-of-sale at drive-throughs, curbside pickup, and a revamped Stars for Everyone rewards program are all key initiatives Starbucks will employ.
I believe the last action, Stars for Everyone, will benefit the business and stock price the most.
Source Fool.com
