Rachel Warren

This next year, they're looking to open between 600 to 650 net new company-owned and licensed cafes.

And this is also as they're shuttering about 400 U.S.

locations coming out of 2025.

So it's a time of big shifts and changes for the business.

Not really anything to write home about, but we are starting to see some early signs of improvement that investors should pay close attention to.

Yeah, I agree with Lou on that.

I don't think the price is nearly as compelling as it was.

And Starbucks is kind of in a difficult position right now, because if they don't invest in their growth story and the way that they are doing so aggressively, they are going to continue to fall behind the competition.

And that's been one of the key issues they have faced in recent years.

And that's evidenced by the fact that you'll

profits are down high double-digit percentage year over year.

They're really putting profits on the back burner to focus on that growth story right now.

I think in the short term, that's the right call.

I think if you're an investor looking at this stock, you have to believe that they are going to be able to really successfully execute this turnaround and do so in a meaningfully profitable way.

I think we're maybe starting to see the very early signs of that.

I mean, some of those growth numbers I talked about earlier, it was some of the first growth we'd seen on those metrics in a

But I think it's still very, very early days for this strategy.

So I would personally proceed with caution.

First of all, net income came in at about $2.7 billion for the fiscal year.

That was down from $6 billion a year ago.