Starbucks Corporation (NASDAQ:SBUX) is one of the stocks Jim Cramer spoke about recently. Cramer mentioned his discussion with the company CEO, as he commented:
“Starbucks, now under Brian Niccol, we’re slightly more than a year into his tenure, and after some fits and starts, this morning on Squawk on the Street, he told me that he’s finally ahead of plan… How’s Brian doing it? He’s doing it the Niccol way, taking care of service first. He’s got the scale. He’s got the biggest chain. He’s got the biggest drive-through, the biggest delivery. He just needed to staff all these businesses correctly… Throughput, he explained to me once, is the name of the game. You get that right, it can all come together… I wanted to come out here with something conclusive, conclusively positive about Starbucks. I simply didn’t have the confidence to truly stick my neck out… But now, with the Chinese business about to get a big partner and with cadence improving at the stores, I think it’s all coming together. Few believe the environment’s gotten tougher. Many restaurant chains have disappointed. So the turn of Starbucks is being overlooked. I’m betting that won’t last for long… What are you waiting for? It’s time to buy the stock of Starbucks.”
Pixabay/Public Domain
Starbucks Corporation (NASDAQ:SBUX) sells coffee, tea, and food products. The company operates through brands, including Starbucks Coffee, Teavana, and Seattle’s Best Coffee.
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Disclosure: None. This article is originally published at Insider Monkey.