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well Starbucks just out with its quarterly results earnings coming in at a dollar a share beating the streets estimates of 95 cents Revenue missing the streets expectations at 9.17 billion estimate was for 9.28 billion same store sales also falling short Rising 10 percent versus the expectation of 11.1 percent for the for the U.S com sales Rising 7 against the U.S 7.7 percent estimate Akiko one bright point here in this earnings results is really what we're seeing in terms of China we know China was a focus in this result here trying to come store sales coming in increasing 48 or 46 excuse me on the year-over-year basis beating the streets expectations of 41.8 so a bit of a recovery playing out in China but not enough to offset some of the weakness that we're seeing elsewhere with the stock off just about one percent well in China you could argue when you look at this stock moves you know sort of investors looking at that growth in China yes that's really good news but at the end of the day the broader trend is slowing growth for Starbucks when you think about where this company has been they have really benefited in a big way in the return to office with those ticket prices going up they've been able to push those prices higher as well looking at record sales in the quarter but broadly speaking that is starting to slow down and I think you see that reflected in the stock as well you talk about same store sales being a Miss North America same Source sales also a Miss coming at seven percent growth as opposed to roughly eight percent a little more than eight percent that was expected the other thing that kind of stood out to me just looking very quickly at the report that came out here um operating margin of 21.7 percent Contracting from the prior year companies saying specifically that was driven by previously committed investments in labor in in that labor story to me I continue to watch with Starbucks it's going to be interesting to hear we're going to commentary we hear from them it's not just about the union moves that we have seen but also just about the broader labor market Starbucks really always a pretty good indicator about where those labor costs are so that'll be interesting to hear what they have to say on the earnings call that will be very interesting and something I'm sure analysts are going to want to know a little bit more about when it comes to some of the average ticket prices here this jumped out to me as well Kiko that Rose four percent beating the streets exclamation expectations of a two and a half percent climb here in North America the average ticket price was up six percent International was up two percent we talk about the fact that people are paying more for their goods every time they go to Starbucks pay more for whatever that is that they're buying so the average ticket prices they're increasing on a year-over-year basis we also know that they put a lot of emphasis on their loyalty program that was up 15 from a year ago to 31.4 million so critical here for Starbucks in order to get those returning customers on a regular basis what that's able enabled the company to do in terms of growing their revenue at a time like you were just saying with with growth slowing just a bit here in the U.S yeah those loyalty points increasingly important not just for Starbucks but so many of these you know sort of food and beverage companies that just makes it a little stickier at a time when consumers are increasingly having less and less discretionary spending to be had but of course we're going to continue to watch the stock move there the shares of Starbucks off just about uh 0.2 percent there

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