Big Changes Coming to Some Starbucks (NASDAQ:SBUX) Locations, Shares Slip
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Early reports note that several New York stores have already been redone, offering '…cozy chairs, hardwood floors, and artwork on the walls that capture the spirit of the areas' local communities.' Ceramic mugs and a self-service condiment bar are also back in play to encourage people to personalize their beverages and make the experience more their own.
Better yet, Starbucks has also revamped its order processes and pared back its menu, which allowed around 75% of orders at test locations to reach completion in under four minutes. The changes are expected to continue hitting stores, and investors will naturally be watching closely to see what impact this has on sales and revenue accordingly.
The Frappuccino, Revamped
One of Starbucks' leading beverages is the Frappuccino. Though this has not seen much change in recent months, that itself is about to change, as Starbucks is rolling out several new breeds of this frozen coffee wonder.
Dubbed the 'Strato' line, the three new drinks feature layers of cold foam stacked on top of the beverage itself. The Strato drinks come in three flavors: Strawberry Matcha, Brown Sugar, and Salted Caramel Mocha. Those interested in trying out the beverages will need only to hit their local Starbucks starting tomorrow, July 8, to get hands on one. Or all three, whichever. But those who have a taste for this latest Starbucks treat will want to move quickly; the drinks are a limited time offering.
Is Starbucks Stock a Good Buy?
Turning to Wall Street, analysts have a Moderate Buy consensus rating on SBUX stock based on 13 Buy and 11 Hold recommendations assigned in the past three months, as indicated by the graphic below. After a 26.65% rally in its share price over the past year, the average SBUX price target of $95.52 per share implies 2.03% upside potential.
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