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Starbucks' new machines
Those who love drinking good coffee are likely familiar with the French press, a method in which hot water is poured over coarsely ground beans resting at the bottom of a glass beaker. After a few minutes, the brewer gently pushes a plunger attached to a fine wire mesh through the brewed coffee, removing the spent grounds. Assuming a proper roast, the coffee tastes incredibly fresh.
It's tough to imagine a coffee shop, no matter how sophisticated or customer-focused, making joe this way. And yet, here comes Seattle-based Starbucks Corp., which announced yesterday at it annual shareholders meeting that it was testing the Clover, a hand-built contraption (in the U.S.) that brews a cup essentially the same way as a French press. The test stores are in Seattle, where Starbucks is headquartered, and Boston.
The Clover, however, isn't a French press by any stretch. If you're interested in learning how this cool-looking $11,000 machine works, here's a link.
Meanwhile, the coffee giant is rolling out a less costly espresso maker, called the Mastrena, throughout about 30 percent of the system this year. In addition to grinding the beans fresh per cup, it's in keeping with CEO Howard Schultz's call for more customer interaction. The device features a lower profile, encouraging employees to chat up customers.
These developments and a couple of others failed to excite at least one restaurant analyst, Lehman Brothers' Jeffrey Bernstein, whose equity note today reminded us that ...
Certainly, the advent of two new machines won't allay concerns, though it must be said Schultz's push to improve the customer experience is the right direction. Better experience, more visits. More visits ... well, you know the drill.
Starbucks' new machines
March 20, 2008
Those who love drinking good coffee are likely familiar with the French press, a method in which hot water is poured over coarsely ground beans resting at the bottom of a glass beaker. After a few minutes, the brewer gently pushes a plunger attached to a fine wire mesh through the brewed coffee, removing the spent grounds. Assuming a proper roast, the coffee tastes incredibly fresh. It's tough to imagine a coffee shop, no matter how sophisticated or customer-focused, making joe this way. And yet, here comes Seattle-based Starbucks Corp., which announced yesterday at it annual shareholders meeting that it was testing the Clover, a hand-built contraption (in the U.S.) that brews a cup essentially the same way as a French press. The test stores are in Seattle, where Starbucks is headquartered, and Boston.
The Clover, however, isn't a French press by any stretch. If you're interested in learning how this cool-looking $11,000 machine works, here's a link.
Meanwhile, the coffee giant is rolling out a less costly espresso maker, called the Mastrena, throughout about 30 percent of the system this year. In addition to grinding the beans fresh per cup, it's in keeping with CEO Howard Schultz's call for more customer interaction. The device features a lower profile, encouraging employees to chat up customers.
These developments and a couple of others failed to excite at least one restaurant analyst, Lehman Brothers' Jeffrey Bernstein, whose equity note today reminded us that ...
|
... the slowdown in comps over the past year had some investors questioning whether Starbucks can continue to drive EPS growth in the ~20 percent range. With details around long-term growth targets forthcoming, we are currently assuming earnings growth in the mid-teens, with upside predicated on significantly improving comps. The concern over Starbucks true long-term growth weighed on the stock over the past year and is the number one concern we hear from investors. |
Posted by David Farkas on March 20, 2008 | Comments (0)
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