Phil Kafarakis and Dan Ahrens break down Starbucks (SBUX) earnings. Phil says, “this is what Brian Niccol was supposed to do” as the company seems to be turning the ship around. “He’s making big investments that are paying off inside his store,” Phil adds. Dan is still not holding SBUX, citing margins. He is “unsurprised” by the earnings miss and notes that this is the first quarter they are offering guidance in about a year. Dan also notes that a lot of growth is coming from China, which is a market it has struggled with in the past.

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