Romaine Bostick

So when you say transactions, are you getting more people in the store?

I'm curious about the actual amount of money that they're spending.

As far as the growth in tickets, that was actually a little bit underpacing what you actually saw in transactions themselves.

What explains that?

Since you took over, you've put a big emphasis on, I guess, reimagining the stores to a certain extent.

This may seem like a dumb question, but why?

I mean, when I look at where your revenue comes from, a lot of that is coming from the drive-thru.

It's coming from takeout on the apps.

It's coming from delivery.

But you've put a big emphasis on the in-store experience, and I don't understand why.

And you think that's what customers want, because we've seen some new entrants into the coffee space, both domestically as well as some folks like Luckin coming to the U.S., taking a much different business model, basically grab and go, more or less.

I mean, that sounds great on paper, but that sounds also complex.

I mean, how do you maintain the integrity of everything when you're trying to have this experience in store at the same time somebody wants to grab and go or a delivery driver showing up to grab an order as well?

That vibe, as I think one of your executives said yesterday at your investor day is back.

The cultural relevancy for Starbucks, that's back.

Well, speaking of her, your investor day yesterday, she talked a lot about your rewards program.

It's relaunching, being reimagined, I believe, in early March.

Talk about the need to retain your existing customer base, but how that rewards program helps, if at all, in bringing in new customers, those who aren't exposed to Starbucks on a daily basis.

you know for some of those folks that migrate into reserve i think they'll find it's a really special experience you've managed to sort of uh get sales back up there are still some analysts that look at some of the growth rate that you have four percent i think was safe in the most recent quarter i think your guidance is what three to five percent a little bit longer term but there are some analysts they're looking back to the heyday from a decade or two ago when starbucks was more uh mid single digits and even up into the teens is that even realistic to get back to those levels

On the top line, when does the bottom line catch up?