*SHORT SBUX CALL TODAY @11AM

CALL DETAILS:

• Toll Free Number:
• Direct Dial Number:
• Conference Code: 174364#
• Materials: CLICK HERE

KEY TOPICS WILL INCLUDE:

1. Why decelerating domestic traffic is an early sign of maturation.
2. Reception of the new La Boulange food items (via one of our proprietary consumer surveys).
3. Is menu complexity risking the deliverability of the “Starbucks Experience?”
4. How the street is overestimating the digital opportunity.
5. Why commodity prices are likely to be a headwind for the next couple of years.
6. Approaching peak margins and why this trend is unsustainable.
7. The biggest risks to current consensus expectations.

Howard Penney

Managing Director

Fred Masotta

Analyst