- Execs with Starbucks (SBUX +0.3%) presented today at the William Blair & Company Growth Stock Conference
- EPS growth of 20% to 22% is forecast.
- The company expects to have 1.5K stores in China by the end of the year.
- Sales have improved at every 2-hour interval of the day with the 11:00 a.m.-1:00 p.m and 1:00 p.m.-3:00 p.m. windows showing the strongest pace of comp sales gains.
- Offering beer and wine at stores has lifted the average ticket level at participating stores.
- CFO Scott Maw notes tea is a bigger market than coffee and is growing at a faster pace. Tea opportunities could broaden as tea concept stores in the U.S. draw notice.
- "Significant innovation is on the docket," says management. Look for the trend of 1% to 2% of comp growth from innovation to continue at Starbucks.
- Express ordering via mobile app is on the agenda. Testing is ongoing.