Josh Brown, the CEO of Ritholtz Wealth Management, appears on CNBC's "Halftime Report" to discuss why he considers Autozone, Live Nation, and Starbucks to be among the top stocks in the market.
During a meeting with shareholders, Starbucks CEO Brian Niccol stated that the company will keep prioritizing diversity initiatives, even as some other businesses are reducing their efforts in this area.
Since last year, Starbucks has faced challenges with falling sales due to high prices and long wait times, which have caused customers to leave.
The Nasdaq Composite (NASDAQINDEX: ^IXIC) is now in a correction, with the Nasdaq-100 index falling around 12% from its peak. Starbucks (NASDAQ: SBUX) shares surged in mid-2024 when Brian Niccol became CEO, and they rose again after a strong earnings report in January. During his brief time as CEO, Niccol has focused on boosting the company's growth and restoring the cozy neighborhood coffee shop atmosphere that may have faded as Starbucks expanded.
Alsea's 'Hold' rating is still valid because of poor performance in Europe, currency challenges, and high debt in Euros and US Dollars. Even though there was an 11.1% increase in sales compared to last year in Q4 FY 2024, EBITDA fell in Europe and South America, affecting overall profits. Starbucks also struggled in Europe, with a 7.4% drop in same-store sales, while Mexico experienced slight growth.
According to a recent report, Starbucks made $1.3 billion in profit through a Swiss subsidiary over ten years. This strategy seemed to lower Starbucks' tax payments in other nations.
Starbucks (SBUX -5.57%) is known for being one of the most recognizable brands globally. The high prices of its coffee have helped the company achieve significant profit growth over time.
Join CNBC's Melissa Lee and the Fast Money traders for the last trades of the day.
The CEO of Starbucks told employees in a recent internal meeting that they must work on making decisions more efficiently as part of the company's efforts to improve.
When people face economic difficulties, they tend to spend less on some products. Right now, with inflation still high, especially for food like eggs, many consumers are feeling the pressure on their budgets.