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Starbucks (SBUX) Presents at UBS Global Consumer & Retail Conference (Transcript)

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Starbucks Corporation (NASDAQ:SBUX) UBS Global Consumer & Retail Conference March 8, 2017 8:15 AM ET


Scott Maw - Executive Vice President and Chief Financial Officer

Tom Shaw - Vice President, Investor Relations

Durga Doraisamy - Director, Investor Relations


Dennis Geiger - UBS

Dennis Geiger

Good afternoon. I'm Dennis Geiger, restaurants analyst at UBS. And I am pleased to welcome and excited to have on stage with me Starbucks’ CFO, Scott Maw. Also representing Starbucks is Tom Shaw, Vice President, Investor Relations; and Durga Doraisamy, Director, Investor Relations.

So first, Scott is going to give some prepared remarks and a presentation that’s being broadcast live and for replay. And then at the end, we will jump into some Q&A.

So, with that, Scott, thanks so much to you and the team for being here. Take it away.

Scott Maw

Thanks for having me. I am actually going to stand up at the podium just because I tend to gesture a lot and I don’t want to hit Dennis when I am getting excited here about what we’re talking about. So, I want to cover two main topics today over the next 20 minutes or so, and then get into Q&A. And the first thing I want to talk about and I’m trying to sprinkle this through the presentation is the longer term growth drivers for Starbucks, that I think occasionally with even our own focus on day-to-day comp drivers, our focus on getting the US business turned back to what we expect, sometimes we lose sight of those long-term growth drivers that make Starbucks a pretty unique long-term investment opportunity. So, I will spend some time on that. And then I want to go through with about half the time in talking about the US because I think it’s important to get into what we are doing to drive comp

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