- Starbucks shares fell about 4% and traded below $90 for the first time since March after the Financial Times reported the company explored an acquisition of Chipotle.
- CNBC noted it is not sure a Starbucks deal for Chipotle would happen.
- HundredX survey data from 29,000 customers of Starbucks and three peers shows Starbucks is the only brand whose future purchase intent is increasing over recent months.
- Relative to Dunkin', Dutch Bros, and 7 Brew, Starbucks scores improved on taste, speed, quality, and brand trust, with price as its biggest relative weakness.
- Starbucks stock has fallen since late August as consumer health concerns weighed on the stock and many restaurant names.
Quotes
“It's further proof that the Starbucks turnaround is taking hold.”
“Starbucks is the only one whose customers' future purchase intent is increasing in the past few months”