Starbucks CFO On The Resurgent North American Market, And Blistering Growth Overseas

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Morgan Stanley’s John Class caught up with Starbucks CFO Troy Alstead to get an update on business

  • U.S. business is strong and the company will now focus on increasing traffic. Starbucks will include morning and drive-thru improvements and increase afternoon demand by adding food products, not just beverages.
  • CPG (consumer packaged goods) business will grow the fastest in the foreseeable future. K-cup remains near-term top-line driver and could cannibalise some packaged coffee.
  • International business has been booming. China is expected to see massive store growth in the next few years. China is expected to have 20% store margins. Brazil and other emerging markets are also coming into focus.

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