星巴克 (SBUX) 2024 Q4 法說會逐字稿

內容摘要

星巴克召開電話會議,討論 2024 財年第四季業績,報告營收和利潤下降。執行長 Brian Niccol 概述了改進計劃,重點關注核心標誌、客戶體驗、菜單簡化和商店設計。

該公司計劃減少新店開業和裝修,優先考慮美國市場,並投資於高品質的產品和體驗。他們還致力於制定成本效率措施並實施 Siren Craft 系統以提高營運標準。

儘管面臨挑戰,星巴克仍然對其品牌以及透過客戶和合作夥伴體驗推動成長的能力充滿信心。

完整原文

使用警語:中文譯文來源為 Google 翻譯,僅供參考,實際內容請以英文原文為主

  • Operator

    Operator

  • Good afternoon. My name is Diego and I will be your conference operator today. I would like to welcome everyone to the Starbucks Fourth Quarter and full Fiscal Year 2024 Conference Call. All lines have been placed on mute to prevent any background noise. After the speakers' remarks, there will be a question-and-answer session. (Operator Instructions)

    午安.我叫迭戈,今天我將擔任你們的會議操作員。我謹歡迎大家參加星巴克第四季和 2024 財年完整的電話會議。所有線路均已靜音,以防止任何背景噪音。演講者發言後,將進行問答環節。 (操作員說明)

  • I will now turn the conference call over to Tiffany Willis, Senior Vice President of Investor Relations. Ms. Willis, you may now begin your conference.

    我現在將電話會議轉交給投資者關係高級副總裁 Tiffany Willis。威利斯女士,您現在可以開始會議了。

  • Tiffany Willis - Senior Vice President, Investor Relations

    Tiffany Willis - Senior Vice President, Investor Relations

  • Thank you, Diego. And good afternoon and thank you everyone for joining us today to discuss Starbucks fourth quarter fiscal year 2024 results. Today's discussion will be led by Brian Niccol, Chairman and Chief Executive Officer; and Rachel Ruggeri, Executive Vice President and Chief Financial Officer

    謝謝你,迭戈。下午好,感謝大家今天加入我們討論星巴克 2024 財年第四季的業績。今天的討論將由董事長兼執行長 Brian Niccol 主持;和 Rachel Ruggeri,執行副總裁兼財務長

  • This conference call will include forward-looking statements which are subject to various risks and uncertainties that could cause our actual results to differ materially from these statements. Any such statements should be considered in conjunction with cautionary statements in our earnings release and risk factors discussed in our filings with the SEC, including our latest Annual Report on Form 10-K and Quarterly Report on Form 10-Q.

    本次電話會議將包括前瞻性陳述,這些陳述受到各種風險和不確定性的影響,可能導致我們的實際結果與這些陳述有重大差異。任何此類聲明應與我們的收益發布中的警告聲明以及我們向 SEC 提交的文件中討論的風險因素結合考慮,包括我們最新的 10-K 表年度報告和 10-Q 表季度報告。

  • Starbucks assumes no obligation to update any of these forward-looking statements or information. GAAP results in fourth quarter fiscal year 2024's comparative period includes several items related to strategic actions, including restructuring and impairment charges and other items. These items are excluded from our non-GAAP results. All numbers referenced on today's call are on a non-GAAP basis unless otherwise noted or there is no non-GAAP adjustment related to the metric.

    星巴克不承擔更新任何這些前瞻性聲明或資訊的義務。 2024 財年第四季的 GAAP 業績(與同期相比)包括與策略行動相關的多項項目,包括重組和減損費用以及其他項目。這些項目不包括在我們的非 GAAP 業績中。除非另有說明或沒有與該指標相關的非 GAAP 調整,否則今天電話會議中引用的所有數字均基於非 GAAP 基礎。

  • As part of our non-GAAP results. Revenue, operating margin and EPS metrics on today's call are measured in constant currency whereby current period results are converted into United States dollars using the average monthly exchange rates from the comparative period rather than the actual exchange rates for the current period excluding related hedging activities. For non-GAAP financial measures mentioned in today's call, please refer to the earnings release on our website at investor.starbucks.com to find reconciliations of those non-GAAP measures to their corresponding GAAP measures.

    作為我們非 GAAP 業績的一部分。今天電話會議的收入、營業利潤率和每股收益指標以固定貨幣衡量,即使用比較期間的平均月匯率而不是不包括相關對沖活動的當期實際匯率將本期業績轉換為美元。對於今天電話會議中提到的非 GAAP 財務指標,請參閱我們網站 Investor.starbucks.com 上的收益發布,以查找這些非 GAAP 指標與其對應 GAAP 指標的調整表。

  • This conference call is being webcast and an archive of the webcast will be available on our website through Friday, December 13, 2024. Also, for your calendar planning purposes, please note that our first quarter fiscal year 2025 earnings conference call has been tentatively scheduled for Tuesday, January 28, 2025.

    本次電話會議正在網路直播,網路直播的存檔將在2024 年12 月13 日星期五之前在我們的網站上提供。年第一季財報電話會議2025 年 1 月 28 日星期二。

  • With that, I now have the privilege of turning it over to Brian.

    至此,我現在有幸將其交給布萊恩。

  • Brian Niccol - Chief Executive Officer

    Brian Niccol - Chief Executive Officer

  • Thank you Tiffany and good afternoon and thank you for joining today. Starbucks is one of the world's great companies and most iconic brands. It really is a privilege to take on this role and I'm excited to be here and optimistic about the future.

    謝謝蒂芙尼,下午好,謝謝今天的加入。星巴克是世界上最偉大的公司和最具代表性的品牌之一。能夠擔任這個角色確實是一種榮幸,我很高興來到這裡並對未來感到樂觀。

  • Since joining Starbucks last month, I've spent my time digging into the business, listening to partners and connecting with customers. These experiences and my learnings have helped me form a clear understanding of where we are and what we need to do differently moving forward. Everything I have seen and heard tells me we have significant strengths to build on.

    自從上個月加入星巴克以來,我花了很多時間深入研究業務、傾聽合作夥伴的意見並與客戶建立聯繫。這些經驗和我的學習幫助我清楚地了解我們所處的位置以及我們未來需要採取哪些不同的做法。我所看到和聽到的一切都告訴我,我們有強大的優勢可以繼續發展。

  • The brand is strong and enduring, we have deep coffee expertise, and we have a fantastic team of Green Apron partners. I look forward to sharing more about my plan to get back to Starbucks with you shortly, but first I'd like to turn it over to Rachel for a more detailed overview of our final Q4 and full fiscal year 2024 financial results. Rachel?

    品牌強大而持久,我們擁有深厚的咖啡專業知識,並且我們擁有一支出色的 Green Apron 合作夥伴團隊。我期待與您分享更多關於我很快回到星巴克的計劃,但首先我想將其交給 Rachel,以更詳細地概述我們第四季度最終財務業績和 2024 年全年財務業績。雷切爾?

  • Rachel Ruggeri - Chief Financial Officer, Executive Vice President

    Rachel Ruggeri - Chief Financial Officer, Executive Vice President

  • Thank you Brian, and welcome to your first Starbucks earnings call. And good afternoon everyone. As you saw in our press release last week, our traffic challenges persisted in Q4, resulting in pressures throughout our P&L from our top line to our bottom line. With that, I'll briefly discuss our Q4 and full year results and then turn the call over to Brian.

    謝謝布萊恩,歡迎參加您的第一次星巴克財報電話會議。大家下午好。正如您在上週的新聞稿中看到的那樣,我們的流量挑戰在第四季度持續存在,導致我們的損益表從收入到利潤都面臨壓力。接下來,我將簡要討論我們的第四季和全年業績,然後將電話轉給布萊恩。

  • In regards to Q4, our Q4 consolidated revenue was $9.1 billion, down 3% from the prior year, driven by a 7% decline in comparable store sales, consisting of an 8% decrease in transactions and a 2% increase in average ticket, partially offset by 7% net new company operated store growth. The revenue decrease was primarily due to a 6% decline in US comparable store sales, driven by a 10% decline in comparable transactions, partially offset by a 4% increase in average ticket, mainly from pricing.

    就第四季而言,我們第四季的綜合收入為91 億美元,比上年下降3%,這是由於可比商店銷售額下降7%,其中交易量下降8%,平均門票增加2%,部分原因是抵銷了新公司自營店 7% 的淨成長。收入下降的主要原因是美國可比商店銷售額下降了 6%,而可比交易下降了 10%,這被主要來自定價的平均門票增長 4% 所部分抵消。

  • Traffic declined across all channels and day parts, with the most pronounced decline in the afternoon day part. In addition to the continued decline of non Starbucks rewards member visits, frequency also slowed across all SR member deciles in comparison to prior year and ultimately impacted spend. While active SR membership grew 4% year-over-year to $33.8 million, it remained flat to Q3 as our product innovation and offerings as well as promotions did not create sustained excitement or the stickiness we planned.

    所有通路和時段的流量均有所下降,其中以下午時段下降最為明顯。除了非星巴克獎勵會員訪問量持續下降之外,所有 SR 十分位會員的訪問頻率也較前一年有所放緩,並最終影響了支出。雖然活躍 SR 會員人數同比增長 4% 至 3,380 萬美元,但與第三季度持平,因為我們的產品創新和產品以及促銷活動並未創造持續的興奮或我們計劃的粘性。

  • Our Q4 results also reflected China comparable store sales decline of 14% driven by an 8% decline in average ticket and a 6% decline in comparable transactions, weighed down by intensified competition and a soft macro environment that impacted consumer spending.

    我們第四季的業績也反映出,由於競爭加劇和宏觀環境疲軟影響了消費者支出,平均票價下降 8%,可比交易下降 6%,導致中國可比商店銷售額下降 14%。

  • Although the market reached an all-time high of 23.5 million SR active members during the quarter with 2.2 million net new members versus prior year, comp declined due to non SR member traffic pressures, elevated discounting given the highly promotional environment and lower sales of high ticket items impacted by consumer sentiment.

    儘管市場在本季達到2,350 萬SR 活躍會員的歷史最高水平,與去年同期相比,淨新會員數量為220 萬,但由於非SR 會員流量壓力、高度促銷環境下的折扣增加以及高價商品銷量下降,公司業績下降。

  • Shifting to margin. Our Q4 consolidated operating margin was 14.4% contracting 370 basis points from the prior year, primarily driven by deleverage, investments in store partner wages and benefits as well as increased promotional activities.

    轉向邊緣。我們第四季的綜合營業利潤率為 14.4%,較上年下降 370 個基點,主要是由於去槓桿化、對商店合作夥伴工資和福利的投資以及促銷活動的增加。

  • The contraction was partially offset by pricing and the in store operational efficiencies. In store, we were successful in getting increased hours per partner, which is contributing to low hourly partner turnover and reduced training costs.

    價格和店內營運效率部分抵消了這一收縮。在商店裡,我們成功地增加了每個合作夥伴的工作時間,這有助於降低合作夥伴的每小時營業額並降低培訓成本。

  • However, we have additional work to do to obtain the correct staffing. We also expect our throughput to be further optimized once the Siren Craft processes stabilizes across the company operated store portfolio. Outside the store, we remain focused on capturing additional end to end supply chain efficiencies. Collectively, in and out of store efficiency efforts have yielded savings of approximately 150 basis points in the quarter.

    然而,我們還需要做額外的工作才能獲得正確的人員配置。我們也預計,一旦 Siren Craft 流程在公司營運的商店組合中穩定下來,我們的吞吐量將進一步優化。在商店之外,我們仍然專注於提高端到端供應鏈效率。總的來說,本季店內店外效率提升工作節省了約 150 個基點。

  • Our G&A expenses were higher than expected and exceeded 7% of revenue in Q4, primarily due to unplanned and non reoccurring third party services and transition costs. Excluding these costs totaling approximately 50 basis points, G&A was 6.6% of revenue in Q4 and remained closer to 6% for the second half of fiscal year 2024 in line with expectations. We expect G&A to further decrease relative to revenue over time leading to sustained margin expansion.

    我們的一般管理費用高於預期,超過第四季度收入的 7%,這主要是由於計劃外和非重複發生的第三方服務和過渡成本。排除這些總計約 50 個基點的成本,第四季的一般管理費用佔營收的 6.6%,2024 財年下半年仍接近 6%,符合預期。我們預計隨著時間的推移,一般行政費用相對於收入將進一步下降,導致利潤率持續擴張。

  • Q4 EPS was $0.80, down 24% from the prior year. The decline was primarily driven by a combination of traffic challenges and heightened investments, partially offset by our pricing and efficiency efforts.

    第四季每股收益為 0.80 美元,比去年同期下降 24%。下降的主要原因是交通挑戰和投資增加,但我們的定價和效率努力部分抵消了這種影響。

  • Moving to full fiscal year 2024, consolidated net revenues increased 1% to $36.2 billion in fiscal year 2024, driven by 7% net new company operated store growth offset by a 2% decline in comparable store sales.

    進入 2024 財年,2024 財年合併淨收入增長 1%,達到 362 億美元,這主要得益於新公司自營商店淨增長 7%,抵消了可比商店銷售額下降 2% 的影響。

  • Full year consolidated operating margin was 15%, contracting 110 basis points from prior year, primarily driven by investments in store partner wages and benefits, deleverage and increased promotional activity. The contraction was partially offset by pricing and in store operational efficiencies.

    全年綜合營業利潤率為 15%,較上年下降 110 個基點,主要是由商店合作夥伴工資和福利投資、去槓桿化和促銷活動增加所推動的。這一收縮被定價和店內營運效率部分抵消。

  • Our in store and out of store efficiency efforts collectively delivered roughly 250 basis points of margin improvement for the full year, which is nearly a billion of cost reductions throughout our P&L as aligned with our original plan. Full year EPS was $3.31, declining 6%, including a 1% unfavorable impact from higher effective tax rate.

    我們在店內和店外效率方面的努力總共使全年利潤率提高了約 250 個基點,這與我們最初的計劃一致,在整個損益表中降低了近 10 億的成本。全年每股收益為 3.31 美元,下降 6%,其中包括有效稅率提高帶來的 1% 不利影響。

  • Shifting to our Outlook. As noted in our press release last week, given the company's CEO transition coupled with the current state of the business, our guidance is suspended for full fiscal year 2025. This allows ample opportunity to assess the business and solidify key strategies as we refocus our efforts on the turnaround, I would like to still briefly touch on our capital allocation priorities.

    轉向我們的展望。正如我們上週的新聞稿中所指出的,考慮到公司執行長的換屆以及當前的業務狀況,我們的指導在2025 整個財年暫停。並鞏固關鍵策略關於轉虧為盈,我想簡單談談我們的資本配置重點。

  • As Brian mentioned in his prepared remarks last week, one of our top priorities includes reestablishing Starbucks as the community coffee house. To do so, we plan to reduce the number of our new stores and renovations in fiscal year 2025 to accommodate a redesign, while also unlocking capital to support our broader turnaround.

    正如布萊恩在上週準備好的演講中提到的,我們的首要任務之一包括將星巴克重建為社區咖啡館。為此,我們計劃在 2025 財年減少新店和裝修的數量,以適應重新設計,同時釋放資金以支持我們更廣泛的轉型。

  • We expect this shift coupled with efficiencies will help us balance our investments accordingly. We're working through the details of the impacts on key metrics including store growth, and we'll revert back with insight at a future date. In the meantime, I want to be clear that this shift in store growth strategy does not reflect and should not be interpreted as a statement on our long-term opportunity view or new store performance.

    我們預期這種轉變加上效率將幫助我們相應地平衡我們的投資。我們正在研究對包括商店增長在內的關鍵指標的影響的詳細信息,我們將在未來的某個日期回复並提供見解。同時,我想澄清的是,商店成長策略的轉變並不反映也不應被解釋為對我們長期機會觀點或新店業績的聲明。

  • In fact, we continue to see strong, highly incremental performance from our new stores. As a proof point, approximately 40% of our US company operated stores had positive comp growth in full fiscal year 2024 with outsized contribution from our newer stores, especially in markets where store density remains low.

    事實上,我們繼續看到我們的新店表現強勁、高度增量。作為一個證明,我們美國公司經營的商店中約有 40% 在 2024 年整個財年實現了正複合成長,其中新商店的貢獻巨大,尤其是在商店密度仍然較低的市場。

  • We continue to see store growth opportunity, especially as we focus on continuing to create a welcoming coffeehouse and the store experience that both our Green Apron partners and our customers deserve.

    我們繼續看到商店成長的機會,特別是當我們專注於繼續創造一個溫馨的咖啡館以及我們的 Green Apron 合作夥伴和客戶應得的商店體驗時。

  • Also, last week we announced an annual increase in the quarterly cash dividend from $0.57 to $0.61 per share. This marks our 14th consecutive year of annual increase at a CAGR of approximately 20%, offering shareholders a sense of certainty during the turnaround and our confidence in our long-term growth.

    此外,上週我們宣布將季度現金股利從每股 0.57 美元增加到 0.61 美元。這標誌著我們連續 14 年以約 20% 的複合年增長率實現年度成長,為股東提供了扭虧為盈的確定感以及我們對長期成長的信心。

  • In summary, our results do not reflect the strength of our brand and what we're capable of. As a 20 plus year partner, I've seen what Starbucks is capable of when we focus on what we do best. It's because of that that I have confidence in our ability to turn around our business and I have the utmost confidence in our partners around the globe that together we can deliver.

    總之,我們的結果並不能反映我們品牌的實力和我們的能力。作為 20 多年的合作夥伴,我看到了當我們專注於我們最擅長的事情時星巴克的能力。正因為如此,我對我們扭轉業務的能力充滿信心,我對全球合作夥伴充滿信心,相信我們能夠共同實現這一目標。

  • With that, I'll now turn the call over to Brian.

    這樣,我現在將把電話轉給布萊恩。

  • Brian Niccol - Chief Executive Officer

    Brian Niccol - Chief Executive Officer

  • Thank you Rachel. Our financial results were very disappointing and it is clear we need to fundamentally change our strategy to win back customers and return to growth. Back to Starbucks is that fundamental change. We have to get back to what has always set Starbucks apart.

    謝謝你雷切爾。我們的財務表現非常令人失望,很明顯,我們需要從根本上改變我們的策略,以贏回客戶並恢復成長。回到星巴克,這就是根本的改變。我們必須回到星巴克始終與眾不同的地方。

  • A welcoming coffee house where people gather and where we serve the finest coffee handcrafted by our skilled baristas. Regardless of the consumer environment, we must be at our best to succeed. And right now, despite the hard work of our Green Apron partners, we aren't always at our best.

    這是一家溫馨的咖啡館,人們聚集於此,我們提供由熟練咖啡師手工製作的最好的咖啡。無論消費者環境如何,我們都必須竭盡全力才能取得成功。目前,儘管我們的綠圍裙合作夥伴努力工作,但我們並不總是處於最佳狀態。

  • I've heard that while people love Starbucks, some feel like we have drifted from our core. We've made it harder to be a customer than it should be and we focused our marketing too narrowly on Starbucks rewards members. I've spent my career understanding, building and stewarding brands and it's clear the Starbucks brand is iconic and loved.

    我聽說,雖然人們喜歡星巴克,但有些人覺得我們已經偏離了我們的核心。我們讓成為顧客變得更加困難,而且我們的行銷過於狹隘地集中在星巴克獎勵會員上。我的職業生涯一直在理解、建立和管理品牌,很明顯星巴克品牌是標誌性的,深受人們喜愛。

  • My experience tells me that when we get back to our core identity and consistently deliver a great experience, our customers will come back. Our problems are fixable. Most of what we need to do is in our control.

    我的經驗告訴我,當我們回到我們的核心身份並持續提供出色的體驗時,我們的客戶就會回來。我們的問題是可以解決的。我們需要做的大部分事情都在我們的掌控之中。

  • So our path forward is clear and with our US business being our priority, work is already underway. Some things will take some time as we test and learn, but we're moving quickly on the things we can. I want to share a few examples.

    因此,我們的前進道路是明確的,並且以我們的美國業務為首要任務,工作已經在進行中。有些事情需要一些時間來測試和學習,但我們正在盡我們所能快速前進。我想分享幾個例子。

  • We have to make it easier for our customers to get a cup of coffee. We are prioritizing work across the US Business support a clear throughput with quality goal. We want to hand deliver a high quality handcrafted beverage to our cafe customers in four minutes or less and deliver orders on time for our mobile order and pay customers every time.

    我們必須讓顧客更容易喝到咖啡。我們正在優先考慮整個美國業務的工作,以支援明確的吞吐量和品質目標。我們希望在四分鐘或更短的時間內為我們的咖啡館顧客手工交付高品質的手工飲料,並每次按時為我們的行動訂單和付費客戶交付訂單。

  • We have work to do to achieve this consistently, but we've learned lessons from our success improving the drive-thru experience and reducing out the window times. Our throughput with quality aspiration and getting the core cafe experience right will drive everything we do and every decision we make. The moment our Barista hands a cup of coffee directly to the customer is our brand moment of truth.

    為了始終如一地實現這一目標,我們還有很多工作要做,但我們已經從成功中吸取了教訓,改善了得來速體驗並減少了窗口時間。我們對品質的追求和正確的核心咖啡館體驗將推動我們所做的一切和做出的每一個決定。我們的咖啡師將一杯咖啡直接遞給顧客的那一刻就是我們品牌的關鍵時刻。

  • So let's talk about some of the changes we're making to do this. First, we're working to get staffing right in our stores. As Rachel shared, we've made significant progress to improve average hours per partner and partner turnover is at another low.

    那麼讓我們來談談我們為此所做的一些改變。首先,我們正在努力為我們的商店配備合適的人員。正如 Rachel 分享的那樣,我們在提高每個合作夥伴的平均工作時間方面取得了重大進展,而且合作夥伴的流動率也處於另一個低點。

  • Our efforts to get partners the hours and schedules they want are working. Now we need to make sure we have the right number of partners on the floor, particularly during our morning peak and shoulder hours. We are moving quickly to test and learn.

    我們為合作夥伴提供他們想要的時間和時間表所做的努力正在發揮作用。現在,我們需要確保現場有正確數量的合作夥伴,特別是在早高峰和平峰時段。我們正在快速進行測試和學習。

  • We're also making a commitment to grow from within by identifying internal hires for 90% of our retail leadership roles and to rally our team behind our Back to Starbucks plan and help support strong leadership in every store we're planning to host a store manager conference in 2025.

    我們還承諾透過內部招聘來擔任90% 的零售領導職位,並團結我們的團隊支持「重返星巴克」計劃,並幫助支持我們計劃開設門市的每家門市的強有力的領導力,從而實現內部成長。

  • Second, we're making it easier for customers to enjoy brewed coffee their way. We plan to bring back condiment coffee bars in all our cafes by early 2025. It's a great customer experience and will help with speed of service. We also plan to complete the rollout of our Clover Vertica brewers in all our company operated locations by the end of fiscal year 25, providing customers more on demand choice in high quality brewed coffee. And we're evolving store routines to hand deliver brewed coffee to customers faster upon order.

    其次,我們讓顧客更輕鬆地以自己的方式享用沖泡的咖啡。我們計劃在 2025 年初在所有咖啡館恢復調味品咖啡吧。我們還計劃在第 25 財年末之前在我們公司運營的所有地點完成 Clover Vertica 沖泡機的推出,為客戶提供更多優質沖泡咖啡的按需選擇。我們正在改進商店慣例,以便在顧客下單後更快地將沖泡的咖啡送到顧客手中。

  • Third, to improve throughput quality and consistency, we will cut down our overly complex menu to align with our core identity as a coffee company. We will still offer customers great choice but will be focused on fewer, better offerings consistently crafted.

    第三,為了提高吞吐量品質和一致性,我們將削減過於複雜的菜單,以符合我們作為咖啡公司的核心身分。我們仍將為客戶提供多種選擇,但將專注於一致地提供更少、更好的產品。

  • Fourth, we will continue to scale our investment in Siren equipment and Siren Craft processes to improve the in store experience for our partners and customers. This work is a critical enabler in helping to achieve our four minute wait time aspiration. And finally, we'll bring order to mobile order and pay so it doesn't overwhelm our cafes.

    第四,我們將繼續擴大對 Siren 設備和 Siren Craft 製程的投資,以改善合作夥伴和客戶的店內體驗。這項工作對於幫助實現我們四分鐘等待時間的願望至關重要。最後,我們將把訂單引入行動訂單和支付,這樣就不會淹沒我們的咖啡館。

  • Today more than 30% of transactions are driven by mobile orders. At peak it can drive an influx of orders that can be difficult to sequence and quickly deliver to our customers. When it works well, it's great, but sometimes it can be a challenge for both customers and partners.

    如今,超過 30% 的交易是由行動訂單驅動的。在高峰期,它可能會帶來大量訂單的湧入,而這些訂單可能難以排序並快速交付給我們的客戶。如果效果良好,那就太好了,但有時這對客戶和合作夥伴來說都是一個挑戰。

  • So we're working to improve sequencing with a new algorithm that enables on time mobile order handoffs and supports our four minute throughput with quality being our goal for cafe customers. We're also placing common sense guardrails on mobile ordering that we think will improve the experience for all customers.

    因此,我們正在努力使用新演算法來改進排序,該演算法可以實現準時的行動訂單交接,並支援我們的四分鐘吞吐量,而品質是我們為咖啡館客戶提供的目標。我們還在行動訂購上設置了常識護欄,我們認為這將改善所有客戶的體驗。

  • And over the coming months, we plan to take steps to better separate mobile order pickup from the cafe experience. There are also some additional steps we're taking beyond a throughput with quality focus that we believe will resonate with our customers and partners. First, we are reimagining our pricing architecture, starting with non-dairy milk customizations.

    在接下來的幾個月裡,我們計劃採取措施,更好地將行動訂單取貨與咖啡館體驗分開。除了注重產量和品質之外,我們還採取了一些其他措施,我們相信這些措施會引起我們的客戶和合作夥伴的共鳴。首先,我們正在重新構想我們的定價架構,從非乳製品客製化開始。

  • We know customization is an important part of the Starbucks experience and we want to make it easier for customers to order their beverage just the way they want while still feeling like it's worth it. So beginning with holiday launch on November 7th, we're eliminating the upcharge for non-dairy milks at North American cafes owned and operated by Starbucks. It's the most popular customization after an extra shot of Espresso.

    我們知道客製化是星巴克體驗的重要組成部分,我們希望讓顧客更輕鬆地按照自己想要的方式訂購飲料,同時仍然覺得這是值得的。因此,從 11 月 7 日假期開始,我們將取消星巴克擁有和經營的北美咖啡館的非乳製品附加費。這是繼額外一杯濃縮咖啡之後最受歡迎的客製化。

  • And once implemented, nearly half of customers that pay for a modifier could see a price reduction of 10% or more when they choose a non-dairy milk. We're also investing in our customers with an intent not to increase menu prices at company owned and operated stores in North America through fiscal year 2025. It's a great start, but we have more work to do to make our pricing architecture straightforward and logical.

    一旦實施,近一半購買改良劑的顧客在選擇非乳製乳時可以看到 10% 或更多的價格下降。我們也對客戶進行投資,目的是在2025 財年之前不會提高公司在北美擁有和經營的商店的菜單價格。的定價架構簡單明了、合乎邏輯。

  • Next, we're reclaiming the third place so our cafes feel like the welcoming coffee house our customers remember. In the coming months, we intend to reintroduce more personal touches to elevate the cafe experience. For instance, we'll begin to prioritize serving coffee and ceramic mugs for customers who choose to enjoy their coffee in our cafes.

    接下來,我們將奪回第三名,讓我們的咖啡館感覺就像顧客記憶中的溫馨咖啡館。在接下來的幾個月裡,我們打算重新引入更多的個人風格,以提升咖啡館的體驗。例如,我們將開始優先為選擇在我們咖啡館享用咖啡的顧客提供咖啡和陶瓷杯。

  • We're also beginning to review and revise our cafe designs to bring back more comfortable seating and amenities and to ensure our stores are a place where customers want to sit, work and meet. We're beginning to revisit certain policies with our partners and customers being top of mind. Lastly, we're getting back to marketing Starbucks to all our customers.

    我們也開始審查和修改我們的咖啡館設計,以恢復更舒適的座椅和設施,並確保我們的商店是顧客想要坐下、工作和見面的地方。我們開始重新審視某些政策,並將合作夥伴和客戶放在首位。最後,我們將回到向所有顧客推銷星巴克。

  • We've already made some changes, so first, we're focusing on coffee. Starbucks sources, roasts and crafts some of the finest quality coffee. I have always loved Starbucks coffee, but I haven't always fully appreciated the quality and care that goes into every cup.

    我們已經做出了一些改變,所以首先我們將重點放在咖啡上。星巴克採購、烘焙和製作一些最優質的咖啡。我一直很喜歡星巴克咖啡,但我並不總是完全欣賞每杯咖啡的品質和關懷。

  • From the work of our agronomists to support tens of thousands of independent coffee farmers to our master roasters, our high quality equipment and our skilled baristas, our marketing needs to tell our coffee story and showcase our premium coffee beverages.

    從我們農藝師為數以萬計的獨立咖啡農提供支援的工作,到我們的烘焙大師、我們的高品質設備和熟練的咖啡師,我們的行銷需要講述我們的咖啡故事並展示我們的優質咖啡飲料。

  • Second, we're reducing the frequency of discount driven offers that have proven ineffective, diluted our premium positioning overburdened our baristas and detracted from a consistent customer experience. We're working to make every visit worth it for our customers with straightforward pricing, timely service and a more consistent, enjoyable cafe experience.

    其次,我們正在減少折扣驅動的優惠頻率,這些優惠已被證明無效,稀釋了我們的優質定位,使我們的咖啡師負擔過重,並有損於一致的客戶體驗。我們致力於透過簡單的定價、及時的服務和更一致、更愉快的咖啡館體驗,讓客戶的每次光臨都值得。

  • Third, we need to broaden our marketing beyond our Starbucks rewards customers.

    第三,我們需要將行銷範圍擴大到星巴克獎勵客戶之外。

  • Our newly launched campaign focuses on talking to all customers and elevates the Starbucks brand in a much more visible way through broad reach media like Linear TV. It reminds customers across age groups that Starbucks serves the best coffee. You've likely seen our new approach in practice already and you will see more of it throughout the holidays and into January.

    我們新推出的活動重點是與所有顧客交談,並透過線性電視等廣泛的媒體以更明顯的方式提升星巴克品牌。它提醒各個年齡層的顧客,星巴克提供最好的咖啡。您可能已經在實踐中看到了我們的新方法,並且在整個假期和一月份您會看到更多。

  • Our customers find worth through quality, consistency and a sense of value. I'm confident that even these early steps will begin to remind customers the Starbucks experience is all of these things. The US is my near term priority, but our international business presents significant opportunities.

    我們的客戶透過品質、一致性和價值感找到價值。我相信,即使是這些早期的步驟也將開始提醒顧客星巴克的體驗就是這一切。美國是我近期的首要任務,但我們的國際業務提供了重要的機會。

  • Before discussing China in detail, I need to spend time there to better understand our operations and the market. All indications show me the competitive environment is extreme, the macro environment is tough, and we need to figure out how we grow in the market now and into the future. In the meantime, we continue to explore strategic partnerships that could help us grow in the long-term.

    在詳細討論中國之前,我需要花時間在那裡更了解我們的營運和市場。所有跡像都表明,競爭環境是極端的,宏觀環境是艱難的,我們需要弄清楚我們現在和未來如何在市場中成長。同時,我們繼續探索可以幫助我們長期發展的策略合作夥伴關係。

  • Looking elsewhere, I've been pleasantly surprised to learn about significant international growth opportunities for the business beyond China. We'll spend more time and effort to capitalize on growth across other international markets in the coming years.

    放眼其他地方,我驚訝地發現中國以外的業務有重大的國際成長機會。未來幾年,我們將花費更多的時間和精力來利用其他國際市場的成長。

  • As I mentioned last week, success comes from staying true to your identity, taking care of customers and your team, simplifying the business, delivering consistently high quality products and experiences, and telling your story.

    正如我上週提到的,成功來自於忠於自己的身份、照顧客戶和團隊、簡化業務、提供一致的高品質產品和體驗以及講述您的故事。

  • I'm confident we'll make it easier to be a customer and we'll encourage customers to visit more often. And I'm confident we'll set our partners up for success so they can deliver the great customer experience I know they want to provide. In doing so, we'll reinvigorate our brand, drive stronger financial returns and return Starbucks to growth.

    我相信我們會讓成為客戶變得更容易,我們會鼓勵客戶更頻繁地光臨。我相信我們將幫助我們的合作夥伴取得成功,以便他們可以提供我知道他們想要提供的卓越客戶體驗。透過這樣做,我們將重振我們的品牌,推動更強勁的財務回報,並使星巴克恢復成長。

  • Thank you for your time and as we get back to Starbucks, we'll regularly share results driven by our work. And as we begin to see results from pilot projects and early initiatives, we'll share more about our long term plan.

    感謝您抽出寶貴時間,當我們回到星巴克時,我們將定期分享我們工作帶來的成果。當我們開始看到試點計畫和早期舉措的成果時,我們將分享更多有關我們的長期計劃的資訊。

  • With that we will open the call for questions. Operator?

    我們將開始提問。操作員?

  • Operator

    Operator

  • (Operator Instructions)

    (操作員說明)

  • Jeffrey Bernstein, Barclays.

    傑弗裡·伯恩斯坦,巴克萊銀行。

  • Jeffrey Bernstein - Analyst

    Jeffrey Bernstein - Analyst

  • Great. Thank you very much, and welcome to Starbucks, Brian. Just a bigger picture question. Obviously, you met with baristas, presumably a lot over the past 50 days. I'm wondering what your key learnings have been in terms of maybe top requests or what areas you think are the greatest opportunities because presumably you're bringing it back to the basics at Starbucks, and you would think that handoff between barista and customer is the most important. So just wondering what your key takeaways were, and if I could just layer in another component there.

    偉大的。非常感謝你,歡迎來到星巴克,布萊恩。只是一個更大的問題。顯然,您在過去 50 天內可能會見了許多咖啡師。我想知道您在最高要求方面的主要經驗是什麼,或者您認為哪些領域是最大的機會,因為大概您正在將其帶回星巴克的基礎知識,並且您會認為咖啡師和顧客之間的交接是最重要的。所以只是想知道你的關鍵要點是什麼,以及我是否可以在那裡添加另一個元件。

  • It just seems like you had tremendous success at Chipotle implementing very similar initiatives. I'm just wondering what you think were some of your greatest wins at Chipotle with some initiatives that maybe could be applied at Starbucks. Thank you.

    看來你們在 Chipotle 實施了非常類似的舉措,並且取得了巨大的成功。我只是想知道您認為您在 Chipotle 取得的最大勝利是什麼以及一些可能可以應用於星巴克的舉措。謝謝。

  • Brian Niccol - Chief Executive Officer

    Brian Niccol - Chief Executive Officer

  • Yes, thanks. And, terrific to be here at Starbucks and delighted to be talking about the business with all of you. So to answer your first question, yes, I had the opportunity, frankly to spend time with our baristas from the west coast, east coast, middle of the country, in the South. And one thing that was consistent that I got to start with is they love this brand, okay?

    是的,謝謝。而且,很高興來到星巴克,很高興與大家談論業務。因此,回答你的第一個問題,是的,坦白說,我有機會與來自西海岸、東海岸、該國中部和南部的咖啡師共度時光。我一開始就堅持的一件事是他們喜歡這個品牌,好嗎?

  • They love serving craft coffee that they know we go the extra mile to ensure it's absolutely the best. And I had the opportunity to ask people over and over again, what is your favorite drink to prepare? And consistently, every barista came back to me with, what I love making the espresso drinks, the latte art, the flat whites, the cappuccinos, the lattes. These are things that literally, they shined when they answered the question.

    他們喜歡提供精釀咖啡,他們知道我們會加倍努力確保它絕對是最好的。我有機會一遍又一遍地問人們,你最喜歡準備什麼飲料?一直以來,每位咖啡師都會提供我喜歡製作的濃縮咖啡、拿鐵藝術、Flat White、卡布奇諾、拿鐵咖啡。從字面上看,這些東西在回答問題時就閃閃發光。

  • Now, as regard to, I also asked them, what do you think are some things we could be doing better? And right out of the gate, one of the things they said that would help the whole process is if we could get brewed coffee not to be going down the line and ending up down at the counter.

    現在,我也問他們,您認為我們在哪些方面可以做得更好?就在大門外,他們說對整個過程有幫助的一件事是,如果我們能買到煮好的咖啡,而不是沿著生產線最後到達櫃檯。

  • And so that's why you heard me, in my prepared remarks here, talk about how we're going to bring back the coffee condiment bar, because both our customers are asking for it, and our baristas are saying it would help them deliver the speed of service that they want to provide.

    這就是為什麼你聽到我在我準備好的演講中談論我們將如何恢復咖啡調味品吧,因為我們的客戶都要求它,我們的咖啡師說這將幫助他們提供速度他們想要提供的服務。

  • So that's one big piece of feedback I got. The second piece of feedback right there with the brewed coffee is take a hard look at the staffing both during peak and shoulder hours to ensure that we're setting the teams up for success all day long.

    這是我得到的一大回饋。關於沖泡咖啡的第二個回饋是仔細檢查高峰時段和平峰時段的人員配置,以確保我們為團隊全天的成功做好準備。

  • And so we've looked at it, I'm happy to say we're already implementing some changes in a couple thousand stores, and we are going to be piloting some new approaches on how we set up the labor model so that our baristas have time to give not only great craft drinks, but also that hospitality and that human touch of handing off the drink to our customer at the counter and then also making sure that we're on time with the mobile order business.

    所以我們已經研究過這個問題,我很高興地說我們已經在幾千家商店實施了一些變革,並且我們將在如何建立勞動力模式方面試點一些新方法,以便我們的咖啡師我們不僅有時間提供優質的精釀飲料,而且還提供熱情好客和人性化的服務,將飲料交給櫃檯上的顧客,然後確保我們準時完成移動訂單業務。

  • The other thing that they shared with me in some of the stores is they wanted their cafe dining room back. They like leading the coffee house.

    他們在一些商店與我分享的另一件事是他們希望恢復他們的咖啡館餐廳。他們喜歡領導咖啡館。

  • I think there's a moment of pride, of saying, this is my place. They know our customers by name. They have their regulars. They want to have a great seat for them. They want to have a great environment for them to enjoy, whether it's a moment for themselves or whether it's sharing a moment with others. And so I couldn't agree more, frankly, with a lot of their feedback.

    我認為有一個自豪的時刻,我說,這是我的地方。他們知道我們客戶的名字。他們有他們的常客。他們希望有一個很棒的座位。他們希望擁有一個讓他們享受的美好環境,無論是屬於自己的時刻還是與他人分享的時刻。因此,坦白說,我非常同意他們的許多回饋。

  • I'll touch on one more, which was, hey, is there any way to simplify the customization that we provide? Can we put in some guardrails on this so that it's not out of hand? Those were the big ones. To your question on similarities of Chipotle, what I would tell you is the similarities start with, you've got an employee/partner base at Starbucks that is hugely committed to the brand and hugely committed to doing the right thing for the business. And when you start with that kind of foundation, you're able to put in the right programs so that we can get the business turned around.

    我還要談一談,嘿,有什麼方法可以簡化我們提供的客製化嗎?我們可以在上面加一些護欄,以免事情失控嗎?這些都是大的。對於你關於 Chipotle 相似之處的問題,我要告訴你的是,相似之處首先是,星巴克有一個非常致力於品牌並致力於為企業做正確的事情的員工/合作夥伴基礎。當你從這個基礎開始時,你就能夠投入正確的計劃,以便我們能夠扭轉業務。

  • So I would say that is one big similarity. The thing, obviously, that I've also just been really impressed by is just how special Starbucks is to so many people, both customers at all ages. And whether they're getting, just a brewed cup of coffee quickly or whether they're getting, a flat white.

    所以我想說這是一大相似之處。顯然,讓我印象深刻的是星巴克對這麼多人(包括各個年齡層的顧客)來說是多麼特別。無論他們是快速沖泡一杯咖啡,還是喝一杯純白咖啡。

  • The brand means a lot to them and it means a lot to their communities. And, I take that as a lot of responsibility. So long answer to your question, but I wanted to make sure I was thorough. So thanks for the question.

    該品牌對他們來說意義重大,對他們的社區也意義重大。而且,我認為這是很大的責任。回答你的問題很長,但我想確保我的答案是徹底的。謝謝你的提問。

  • Operator

    Operator

  • Sara Senatore, Bank of America.

    薩拉·參議員,美國銀行。

  • Sara Senatore - Analyst

    Sara Senatore - Analyst

  • Thank you. Thank you. And thank you for that color, Brian. I wanted to ask you getting a lot of questions comparisons to Chipotle. But one of the things that I think struck me at the time was that there were a lot of benefits that you were able to extract from reallocating resources. So reinvesting in some parts of the business and maybe finding things that were less productive elsewhere.

    謝謝。謝謝。謝謝你的顏色,布萊恩。我想問你,與 Chipotle 相比有很多問題。但我認為當時令我印象深刻的一件事是,您可以從重新分配資源中獲得很多好處。因此,對業務的某些部分進行再投資,也許會發現其他地方生產力較低的事情。

  • And I guess I'm wondering, it sounds like maybe that's the case for Starbucks too. You talked about reducing upcharges for non-dairy milk which as an almond milk drinker I thank you for. But you're also promoting less and similarly maybe shifting to linear television but it sounds like perhaps away from other channels.

    我想我想知道,聽起來星巴克也許也是。您談到了減少非乳製奶的附加費,作為杏仁奶飲用者,我對此表示感謝。但你的宣傳也較少,同樣可能會轉向線性電視,但聽起來可能遠離其他頻道。

  • So I wanted to see if that's the right interpretation including around scheduling perhaps which is maybe not more hours but different. And then just a quick question for Rachel. I think you mentioned some onetime charges in G&A, but I think they were included in the non-GAAP EPS. So just want to make sure I understand what kind of non recurring might actually be in Adjusted EPS. Thanks.

    所以我想看看這是否是正確的解釋,包括圍繞日程安排,這可能不是更多的時間,而是不同的。然後問雷切爾一個簡單的問題。我認為您提到了一般管理費用中的一些一次性費用,但我認為它們已包含在非 GAAP 每股收益中。因此,我只是想確保我了解調整後每股盈餘中實際上可能包含什麼樣的非經常性費用。謝謝。

  • Brian Niccol - Chief Executive Officer

    Brian Niccol - Chief Executive Officer

  • So I'll start. To answer your question, look, I absolutely want to stop doing the things that aren't working and shifting those dollars to things that I believe will work. And in some cases we have to test and learn our way through that. But yes, look, I think to the company's credit they've already started some terrific work on supply chain and getting inefficiencies out of the supply chain that I think can support the business longer term.

    那我就開始吧。為了回答你的問題,我絕對想停止做那些不起作用的事情,並將這些錢轉移到我相信會起作用的事情上。在某些情況下,我們必須測試並學習我們的方法。但是,是的,我認為值得公司讚揚的是,他們已經在供應鏈方面開始了一些出色的工作,並消除了供應鏈的低效率問題,我認為這可以長期支持業務。

  • It's not just a onetime situation, it's an ongoing capability that we're building. And then, as it relates to like discounts and some of the shifting of marketing dollars and then what we're doing on the labor side of things, we may find it's going to require some additional hours because at the end of the day I want to make sure that the teams are staffed to win every transaction so that when somebody comes in they walk away saying they had a great experience time and time again.

    這不僅僅是一次性的情況,而是我們正在建立的持續能力。然後,由於它涉及折扣和行銷資金的一些轉移,以及我們在勞動力方面所做的事情,我們可能會發現這將需要一些額外的時間,因為最終我想要確保團隊配備足夠的人員來贏得每一筆交易,這樣當有人進來時,他們就會一次又一次地說他們有很棒的經歷。

  • And I also want to have a scenario where our baristas feel like they have the ability to give a great experience. And I'm sure you've heard this over and over again, right? It's like the customer experience will not exceed that of the partner's experience.

    我還希望有一個場景,讓我們的咖啡師覺得他們有能力提供很棒的體驗。我相信你已經聽過一遍又一遍了,對吧?就好像客戶體驗不會超過合作夥伴的體驗。

  • So we have to make sure, and we're going to test and learn our way through this, that we are setting up the right schedule, the right amount of hours with the right number of partners on the floor so that we can deliver these handcrafted drinks and hand them off to our customers in store and then also support our mobile order business as well as in some cases the drive thru business as well.

    因此,我們必須確保,並且我們將測試和學習我們的方法,我們正在製定正確的時間表,正確的時間和正確數量的合作夥伴,以便我們能夠交付這些手工製作飲料並將其交給店內的顧客,然後還支援我們的行動訂單業務以及在某些情況下的得來速業務。

  • So we're going to be smart about the investments. And I think also you saw in the past, when I find something that's working, we're going to do more of it. And so that is really what we're after. And I think collectively the team really buys into that approach. I'll hand it over to Rachel for the second piece.

    因此,我們將明智地進行投資。我想你過去也看到了,當我發現一些有效的東西時,我們會做更多的事情。這正是我們所追求的。我認為整個團隊確實認同這種方法。我會把第二部分交給瑞秋。

  • Rachel Ruggeri - Chief Financial Officer, Executive Vice President

    Rachel Ruggeri - Chief Financial Officer, Executive Vice President

  • Sure. Thanks for the question, Sarah. What I would just say just to punctuate a bit of what Brian said is that broadly with our investments you can expect that we'll continue with efficiency efforts. We'll have ways to balance this. But I think it's important to note that in the near term we may see some incremental investments that will have an impact on our financials, but we do expect they'll be accretive, particularly as we balance that with increased transactions, so I'd look at it from that perspective.

    當然。謝謝你的提問,莎拉。我只想強調布萊恩所說的,從廣義上講,透過我們的投資,您可以期望我們將繼續提高效率。我們將有辦法來平衡這一點。但我認為值得注意的是,在短期內,我們可能會看到一些增量投資,這將對我們的財務產生影響,但我們確實預計它們會增值,特別是當我們透過增加交易來平衡投資時,所以我會從這個角度來看。

  • As it relates to the G&A we don't have a GAAP, non-GAAP situation with the transition cost. The cost that I spoke about, the non reoccurring one time are largely all related to transition in one way or another. We don't expect that that will repeat.

    由於它與 G&A 相關,因此我們沒有 GAAP、非 GAAP 情況以及過渡成本。我談到的成本,即非重複發生的成本,很大程度上都與某種方式的轉變有關。我們預計這種情況不會重演。

  • When you think about G&A for next year, the one thing to remember is while we'll continue to focus on being as efficient as possible, we will be lapping lower performance based comp in fiscal year 2024. So that will have an impact on our G&A in fiscal year 2025.

    當您考慮明年的一般管理費用時,需要記住的一件事是,雖然我們將繼續專注於盡可能提高效率,但我們將在2024 財年採用較低的基於績效的薪酬。對我們的業績產生影響2025 財年的一般管理費用。

  • Operator

    Operator

  • Brian Harbour, Morgan Stanley.

    布萊恩‧哈伯,摩根士丹利。

  • Brian Harbour - Analyst

    Brian Harbour - Analyst

  • Sure. Yes. Good afternoon. Thanks Brian for the thoughts and welcome. Just a menu question, the simplification that's going to happen. Do you have a sense for what that will be so far and roughly what the timing would be in the comment about guardrails around customization. I don't know if you want to say anything about that at this point.

    當然。是的。午安.感謝布萊恩的想法和歡迎。只是一個菜單問題,即將發生的簡化。在有關定制護欄的評論中,您是否知道到目前為止會發生什麼以及大致的時間表。我不知道此時你是否想說些什麼。

  • Then I guess, just more broadly, what do you think is the right pace of innovation at Starbucks typically?

    那麼我想,更廣泛地說,您認為星巴克通常的正確創新步伐是多少?

  • Brian Niccol - Chief Executive Officer

    Brian Niccol - Chief Executive Officer

  • Yes. So to answer your first question, on guardrails for customization and menu simplification, we're actually in the middle of doing that work right now. There are some obvious things that are easy to say, let's get that off the menu.

    是的。因此,為了回答你的第一個問題,關於定制和菜單簡化的護欄,我們實際上正在做這項工作。有一些顯而易見的事情很容易說,讓我們把它們從選單中刪除。

  • And then there are other things that we might have to test our way on the menu of how we exit them smartly. And then on the customization as far as guardrails go and by the way, the menu simplification is both in beverage and food. We're not just looking at beverage or just food.

    然後還有其他一些事情我們可能需要在菜單上測試我們如何巧妙地退出它們。然後就護欄而言,菜單的簡化包括飲料和食物。我們不僅僅關注飲料或食物。

  • Then on the customization guardrails. Right now, if you go through the app, you'll notice that we offer up all kinds of customization, or it's the same customization page almost for everything that you order. Two things happen. One, it's complicated for the customer to get through it. And then two, we kind of incentivize people to customize drinks that probably aren't the best way to execute the drink. Not to mention it creates additional complexity for our partners to execute the drink.

    然後在定制護欄上。現在,如果您瀏覽該應用程序,您會注意到我們提供各種自訂,或者幾乎為您訂購的所有內容提供相同的自訂頁面。發生了兩件事。第一,客戶的處理過程很複雜。第二,我們鼓勵人們客製化飲料,但這可能不是執行飲料的最佳方式。更不用說它為我們的合作夥伴執行飲料帶來了額外的複雜性。

  • So we have some cleanup to do, is the way I would describe it. And then I also think we have some pricing architecture tied to guardrails to ensure that we end up with no surprises for, frankly, anybody on what was the price of what they just built, and then also that we can execute it consistently every time. So that's what we're after on those fronts.

    所以我們需要做一些清理工作,這就是我所描述的方式。然後我還認為我們有一些與護欄相關的定價架構,以確保我們最終不會讓任何人對他們剛剛建造的產品的價格感到意外,然後我們每次都可以一致地執行它。這就是我們在這些方面所追求的目標。

  • And what was your other question?

    你的另一個問題是什麼?

  • Brian Harbour - Analyst

    Brian Harbour - Analyst

  • Just product innovation. What do you -- what's kind of the right pace?

    只是產品創新。你做什麼-什麼是正確的節奏?

  • Brian Niccol - Chief Executive Officer

    Brian Niccol - Chief Executive Officer

  • Yes, look, it's really interesting. I'm still getting up to speed on the innovation process at Starbucks, and what I'm happy to discover is they have a stage gate process. It hasn't been followed recently, and we're going to start using the process again. So innovation has been, I think, a core piece of the Starbucks proposition, and it's going to continue to be.

    是的,你看,這真的很有趣。我仍在了解星巴克的創新流程,我很高興發現他們有一個階段性流程。最近沒有遵循,我們將再次開始使用流程。因此,我認為創新一直是星巴克主張的核心部分,並且將繼續如此。

  • But we are definitely not going to be moving at the speed you probably saw over the last two years. And part of that is we're just going to take a much more disciplined approach using the stage gate process so that what we roll out, we have a better understanding of how it's going to perform.

    但我們絕對不會以你過去兩年看到的速度前進。其中一部分是我們將使用階段門流程採取更嚴格的方法,以便我們推出的產品能夠更好地了解它將如何執行。

  • The supply chain can support it, the baristas can execute it and, we'll make sure we're smart about how we then market it, so people are aware of it. So it's kind of the basics of how I would call it, like stage gate innovation. But what I was happy to discover is there is a process already at Starbucks. It just wasn't being used, and now we're going to reinstate it.

    供應鏈可以支持它,咖啡師可以執行它,我們將確保我們明智地行銷它,以便人們意識到這一點。所以這就是我所說的基礎知識,就像舞台入口創新一樣。但我很高興地發現星巴克已經有了一個流程。它只是沒有被使用,現在我們要恢復它。

  • Operator

    Operator

  • John Ivankoe, JP Morgan.

    約翰‧伊凡科,摩根大通。

  • John Ivankoe - Analyst

    John Ivankoe - Analyst

  • Hi. Thank you very much. Brian you just mentioned food. I think for the first time in this call, food is nearly 25% of Starbucks sales. Food, from what I recall, is in 40% of transactions. So it is actually a pretty meaningful part of the Starbucks business. And there has been some discussion of kind of improving the baked goods, improving the sandwiches, improving the lobby, things around food warming cabinets that could be a significant enhancer to speed, especially if people were to order several different things.

    你好。非常感謝。布萊恩,你剛才提到了食物。我認為,在這次電話會議中,食品佔星巴克銷售額的比例接近 25%,這還是第一次。據我記得,食品佔交易量的 40%。所以這其實是星巴克業務中非常有意義的一部分。並且已經有一些關於改進烘焙食品、改進三明治、改進大廳、食物加熱櫃周圍的東西的討論,這些東西可能會顯著提高速度,特別是如果人們要訂購幾種不同的東西。

  • How would you prioritize food? Is that something that you think is a big, long-term growth opportunity for Starbucks, or is the answer do fewer things better and really focus on beverage first?

    你會如何優先考慮食物?您是否認為這對星巴克來說是一個巨大的長期成長機會,或者答案是做得更少、做得更好,並真正專注於飲料?

  • Brian Niccol - Chief Executive Officer

    Brian Niccol - Chief Executive Officer

  • Yes, thanks for the question, John. To answer your question, look, food is, I think, a key piece of the puzzle, and I think you're right. We have the opportunity to do fewer, better food executions. So, obviously I want to make sure that everybody understands the quality, the craft, the commitment we have to coffee.

    是的,謝謝你的提問,約翰。為了回答你的問題,我認為食物是這個難題的關鍵部分,我認為你是對的。我們有機會進行更少、更好的食品加工。所以,顯然我想確保每個人都了解我們對咖啡的品質、工藝和承諾。

  • But I think we can also have the same commitment to quality and craftsmanship in our food to match the experience you get with our beverages. So we're doing work on that already. And I do think we're going to be much better at food if we do fewer things on the food front in a better quality fashion.

    但我認為我們也可以對我們的食品品質和工藝做出同樣的承諾,以配合您對我們飲料的體驗。所以我們已經在做這方面的工作了。我確實認為,如果我們以更高品質的方式在食物方面做更少的事情,我們在食物方面就會做得更好。

  • So that's part of the process, and I think you'll see some of those changes evolving over the coming months.

    所以這是這個過程的一部分,我想你會在未來幾個月看到其中一些變化的演變。

  • Operator

    Operator

  • David Tarantino, Baird.

    大衛·塔倫蒂諾,貝爾德。

  • David Tarantino - Analyst

    David Tarantino - Analyst

  • Hi, good afternoon. I wanted to ask about the store redesign work that you're doing. I was just curious if you could elaborate on what are some of the elements you're seeking in that, and what do you envision the benefits of the new design?

    嗨,下午好。我想詢問一下你們正在進行的商店重新設計工作。我只是好奇您能否詳細說明您在其中尋求的一些元素,以及您認為新設計的好處是什麼?

  • And then maybe secondly, once you finalize that design, do you envision a big remodel cycle over the next several years or however you want to frame it with that? Thanks.

    其次,一旦你最終確定了設計,你是否設想在未來幾年內進行一次大的改造週期,或者你想如何框架它?謝謝。

  • Brian Niccol - Chief Executive Officer

    Brian Niccol - Chief Executive Officer

  • Yes, thanks, David. Look, what we want to do is figure out how we can reduce the cost on our renovation program. And then as part of that, also create the experience where you've got a great coffee house chair or seat or vibe. And then at the same time, I want to separate, and we believe we need to separate the counter experience, meaning the in store experience, from the mobile order pickup experience.

    是的,謝謝,大衛。聽著,我們想做的是弄清楚如何降低改造計畫的成本。然後,作為其中的一部分,還要創造一種體驗,讓你擁有一張很棒的咖啡館椅子或座位或氛圍。同時,我想分開,我們相信我們需要將櫃檯體驗(即店內體驗)與行動訂單取貨體驗分開。

  • But regardless whether you walk in to just pick up your coffee and go, I want you to feel like you've walked into a special place and look, ideally, I was just saying this to our design team. I know we've got it right when people are questioning whether or not they want to order mobile, because maybe if I have a few minutes, I'd rather stay in the cafe and get that cafe experience from our barista, where it's handheld. So I have strong belief that we can make the cafe experience, frankly, really terrific and something special, really welcoming, warm space where you want to spend some time. And I think there's touches. Right.

    但無論你是否走進來只是拿起咖啡就走,我希望你感覺自己走進了一個特殊的地方,理想情況下,我只是對我們的設計團隊這麼說。我知道當人們質疑他們是否想用手機點餐時,我們的做法是對的,因為也許如果我有幾分鐘的時間,我寧願呆在咖啡館裡,從我們的咖啡館的體驗。所以我堅信,坦白說,我們可以讓咖啡館體驗變得非常棒,成為一個特別的、非常熱情、溫暖的空間,讓你想在那裡度過一段美好的時光。我認為有一些觸動。正確的。

  • I mentioned just bringing back the ceramic mug. If you decide to stay in the cafe and have, your latte two, obviously, then the furniture that we have, the materials that we choose, I love. Our designers are talking about make sure we bring back the layers, the texture, the warmth. Those are the things that are really important.

    我提到只是帶回陶瓷杯。如果您決定留在咖啡館並享用兩杯拿鐵咖啡,那麼顯然,我們擁有的家具,我們選擇的材料,我都喜歡。我們的設計師正在談論確保我們恢復層次、質感和溫暖。這些才是真正重要的事。

  • Operationally, what we're also after is clarity of where that barista handoff experience will happen. We're also after less than four minutes for POS to the handoff. And we're also after, if you order a brewed cup of coffee, it's a really fast experience because we're going to just hand it to you right at the point of sale, and then you can go to the coffee condiment bar and doctor up your coffee how you see fit.

    在操作上,我們也追求明確咖啡師交接體驗將在哪裡發生。我們還不到四分鐘就完成了 POS 的交接。我們也追求,如果您點了一杯現煮咖啡,這是一種非常快速的體驗,因為我們將在銷售點將其直接交給您,然後您可以前往咖啡調味品吧,按照您認為合適的方式調整您的咖啡。

  • One of the other things we're going to be bringing back, too, is bringing the Sharpies back to our baristas. And it's going to give them the opportunity to put that additional human touch on every coffee experience as well.

    我們還將帶回的另一件事是將記號筆帶回我們的咖啡師手中。這也將使他們有機會在每一次咖啡體驗中增添額外的人情味。

  • So there's a lot of. I think there's a lot of just simple things that go a long way of saying, what, this is a community place. This is a special place where people are here to connect. And I think we can do that in a really meaningful way. And then obviously on the mobile order side of things, I want to create a separate area where it's clear so your drink is ready, I can grab it.

    所以有很多。我認為有很多簡單的事情足以說明,這是一個社區場所。這是一個特殊的地方,人們在這裡相互聯繫。我認為我們可以以一種真正有意義的方式做到這一點。顯然,在移動訂單方面,我想創建一個單獨的區域,在那裡很清晰,這樣你的飲料就準備好了,我可以拿走它。

  • And if you need to be quick, you can be quick, and we'll be on time with it. And then obviously we still have the drive through business where we got to make sure we get the orders correctly out the window.

    如果您需要快點,您就可以快點,我們會準時完成。顯然,我們仍然有駕車通過業務,我們必須確保我們正確地將訂單送出窗外。

  • And then to answer your question, David, on the renovation program, I think we're still working through what is the right schedule once we fully understand what the renovations are going to entail.

    然後,大衛,回答你關於翻修計劃的問題,我認為,一旦我們完全了解翻修所需的內容,我們仍在製定正確的時間表。

  • But my hope is, over the coming years, we'll be able to touch everything and get back to having that community coffee house vibe.

    但我希望,在未來的幾年裡,我們將能夠接觸到一切,並恢復社區咖啡館的氛圍。

  • Operator

    Operator

  • Andrew Charles, TD Cowen.

    安德魯查爾斯,TD·考恩。

  • Andrew Charles - Analyst

    Andrew Charles - Analyst

  • Great, thank you, Brian. One of the things that made Chipotle successful was the digital make line that helped provide capacity for traffic growth and creating production capacity. Sounds like something on your mind for Starbucks. I'm curious what your view is on the Siren system automated technology and if this is something you're looking to step on the gas to accelerate retrofitting the pace of this in excess of the 10% of store base per year that's currently in place would help you improve operations as well as the barista experience.

    太好了,謝謝你,布萊恩。 Chipotle 成功的原因之一是數位化生產線,它有助於提供流量成長和創造生產能力。聽起來你對星巴克有一些想法。我很好奇您對 Siren 系統自動化技術有何看法,以及您是否希望加快改造速度,超過目前每年 10% 的商店基數將幫助您改善營運以及咖啡師體驗。

  • Brian Niccol - Chief Executive Officer

    Brian Niccol - Chief Executive Officer

  • Yes, thanks for the question. Obviously, the one thing that I'm really delighted about is this Siren Craft system, both the equipment and the process, I think is a key unlock for us to deliver on this four minutes or less on the In Cafe experience. And then also to set up the algorithm where we can allow mobile orders to have specific pickup times so that we're sequencing those mobile orders.

    是的,謝謝你的提問。顯然,我真正感到高興的一件事是這個 Siren Craft 系統,無論是設備還是流程,我認為這是我們交付四分鐘或更短時間的 In Cafe 體驗的鑰匙。然後還要設定演算法,允許行動訂單具有特定的取貨時間,以便我們對這些移動訂單進行排序。

  • What I'll tell you is we know we've got some bottlenecks out there, right, that we got to solve. And the good news is some of the bottlenecks require the full implementation. So the hot hold, the combi oven, the cold solution, the process, and then there are other stores where we don't have to quite go that far in order to achieve the throughput that we're after.

    我要告訴你的是,我們知道我們存在一些瓶頸,對吧,我們必須解決這些瓶頸。好消息是一些瓶頸需要全面實施。因此,熱保持、組合烤箱、冷解決方案、工藝,還有其他商店,我們不必走那麼遠就能達到我們所追求的吞吐量。

  • But what I love about this is then we can we know when transactions get to a certain level or mix gets to a certain level. How we need to roll out the system accordingly. So what I would tell you is, look, what I want the organization rotating towards is how do we unlock throughput at less than four minutes in that store? If that store requires the full Siren Craft system, put it in.

    但我喜歡這一點的是,我們可以知道交易何時達到一定水平或混合達到一定水平。我們需要如何相應地推出該系統。所以我要告訴你的是,看,我希望組織轉向的是我們如何在該商店中在不到四分鐘的時間內釋放吞吐量?如果該商店需要完整的 Siren Craft 系統,請將其放入。

  • If it requires some pieces of it, put that in. If it just requires staffing and better deployment, we'll implement that. So I really, I think we need to rerotate ourselves to this idea of we are going to be a great coffee craft company that has now really good throughput and operational standards for how we'll perform for each of these access modes.

    如果它需要其中的某些部分,請將其放入。所以我真的,我認為我們需要重新調整自己的想法,我們將成為一家偉大的咖啡工藝公司,現在對於我們如何執行每種訪問模式具有非常好的吞吐量和操作標準。

  • And the good news is we got a great group of engineers, a great group of people that have clarity on how we solve any of these bottlenecks that we pop into or bump into. So that's the way you should think about it. I'm putting a full court press on solving four minutes is the point, and then how that cascades into our other access modes.

    好消息是,我們擁有一群優秀的工程師,他們清楚地了解如何解決我們遇到或遇到的任何瓶頸。所以這就是你應該考慮的方式。我要全力以赴地解決四分鐘的問題,然後如何將其級聯到我們的其他存取模式中。

  • Operator

    Operator

  • David Palmer, Evercore ISI.

    大衛·帕爾默,Evercore ISI。

  • David Palmer - Analyst

    David Palmer - Analyst

  • Thanks. Just to follow up on what you were just talking about with the back of the bar changes and trying to make the baristas life easier, service times better. Are you. And you mentioned CapEx changes, away from unit development and perhaps towards some of these changes with the Siren system or at least just the machines.

    謝謝。只是為了跟進您剛才所說的酒吧後面的變化,並努力讓咖啡師的生活更輕鬆,服務時間更好。你是。您提到了資本支出的變化,遠離單位開發,也許還涉及 Siren 系統或至少機器的一些變化。

  • Are we really going to see what they were describing to us a while ago with the Siren system and you're just going faster with that and more aggressively towards the stores that need it? Or are you envisioning something not more radical but different in that you were going to separate the bar in different ways to make that it's more fundamentally a departure from what we were hearing about. And then you mentioned the four minute service time goal. What is that service time today and where specifically are the biggest bottlenecks or pain points that are keeping you keeping that gap from four minutes. Thanks.

    我們真的會看到他們不久前向我們描述的警報系統嗎?或者你是否正在設想一些不更激進但不同的東西,因為你將以不同的方式將酒吧分開,以使其從根本上偏離我們所聽到的內容。然後你提到了四分鐘的服務時間目標。今天的服務時間是多少? 具體來說,最大的瓶頸或痛點是什麼,使您無法將這一差距控制在四分鐘以內。謝謝。

  • Brian Niccol - Chief Executive Officer

    Brian Niccol - Chief Executive Officer

  • Yes. So David, I think the big change here is having an operating standard around less than four minutes and there wasn't, I guess, clarity on that aspect. Instead we were just kind of working on pain points in isolation as opposed to what is the system solution to get the customer experience and the barista experience that we know we need to deliver. And so the less than four minutes actually comes from two things. One, talking to baristas and customers to find out what are their expectations.

    是的。所以大衛,我認為這裡最大的變化是有一個大約不到四分鐘的操作標準,我想這方面還沒有明確。相反,我們只是孤立地解決痛點,而不是獲得我們知道需要提供的客戶體驗和咖啡師體驗的系統解決方案。因此,不到四分鐘的時間實際上來自兩件事。第一,與咖啡師和顧客交談,了解他們的期望是什麼。

  • And one of the things I'm happy to discover is, before the business got as big as it is and had also mobile order and food and cold, etcetera. A lot of our partners, long time partners, are used to getting these handcrafted drinks done in about two and a half minutes. So we know it's feasible.

    我很高興發現的一件事是,在業務發展到現在的規模並且還提供行動訂單、食品和冷飲等之前。我們的許多合作夥伴,長期合作夥伴,習慣在大約兩分半鐘內完成這些手工製作的飲料。所以我們知道這是可行的。

  • To your point though, there is some additional bottlenecks that we have to deal with. So in some cases it's the food and that's where it's necessary to put in the combi oven, have the warming kit. In some cases it's the mix of cold and in some cases frankly it's the mix of mobile.

    不過,就您的觀點而言,我們還必須解決一些額外的瓶頸。所以在某些情況下,這是食物的問題,這就是需要放入萬用烤箱並配備加熱套件的地方。在某些情況下,它是冷的混合,在某些情況下,坦率地說,它是移動的混合。

  • And so we have to address these things throughout the system. And that's why I'm saying like putting everything against this idea of, what, we are not going to do something or said another way. We're going to be doing the things that enable less than four minutes at the counter.

    因此,我們必須在整個系統中解決這些問題。這就是為什麼我說把一切都反對這個想法,我們不會做某事或以另一種方式說。我們要做的事情是讓櫃檯工作時間少於四分鐘。

  • Then we're also going to be doing things that enable being on time and accurate every time for mobile order pickup. And it's also we're going to work towards getting less than four minutes in the drive thru window as well. So the good news is we've got the equipment, we just haven't over time used it as a system to serve against the need of less than four minutes.

    然後,我們也將採取措施,確保每次行動訂單提貨都能準時且準確。我們也將努力讓駕車穿過窗口的時間少於四分鐘。所以好消息是我們已經有了設備,只是我們沒有隨著時間的推移將其用作系統來滿足不到四分鐘的需求。

  • And so that's the big change. And when you, when you start to use that metric, you quickly discover where our stores have a real problem and we're going to go very aggressive against those first and where there are other stores that frankly don't have the transaction or the mix yet that weren't putting in all this equipment, but we should put in the processes, wire the place correctly so that as their transactions get close we can put it in and avoid ever having the bottlenecks. And then to just answer your question, we probably have about 50% of our stores or 50% of our transactions already happening less than four minutes.

    這就是巨大的變化。當您開始使用該指標時,您很快就會發現我們的商店在哪裡存在真正的問題,我們將首先非常積極地針對這些問題以及坦率地說沒有交易或沒有交易的其他商店混合尚未放入所有這些設備,但我們應該放入流程,正確連接該位置,以便當他們的交易接近時我們可以將其放入並避免瓶頸。然後回答你的問題,我們可能有大約 50% 的商店或 50% 的交易已經在不到四分鐘的時間內發生。

  • So we know it's very doable. And this is what I'm referring to. During peak, we know it's very doable. We just need to do it in all our stores in every transaction. So we're going to be maniacal about getting after it.

    所以我們知道這是非常可行的。這就是我指的。在高峰期,我們知道這是非常可行的。我們只需要在我們所有商店的每筆交易中都這樣做。所以我們會瘋狂地追求它。

  • Operator

    Operator

  • Christine Cho, Goldman Sachs.

    克里斯汀‧曹,高盛。

  • Christine Cho - Analyst

    Christine Cho - Analyst

  • Thank you for taking my question. So I know you're not ready to put specific numbers around it, but I was wondering if you can kind of talk about the major areas or buckets where you would need to kind of invest in, to kind of restore the traffic momentum as well as to improve the store infrastructure for your partners as well as guests.

    感謝您回答我的問題。所以我知道你還沒有準備好給出具體的數字,但我想知道你是否可以談談你需要投資的主要領域或領域,以恢復流量勢頭為您的合作夥伴和客人改善商店基礎設施。

  • And also just to confirm that 1 billion per annum cost efficiency unlock program, is that something still you can leverage in the next few years? Thank you.

    而且只是為了確認每年 10 億美元的成本效率解鎖計劃,在未來幾年內您仍然可以利用嗎?謝謝。

  • Brian Niccol - Chief Executive Officer

    Brian Niccol - Chief Executive Officer

  • I'm sorry, what was the last part of your question?

    抱歉,您問題的最後一部分是什麼?

  • Christine Cho - Analyst

    Christine Cho - Analyst

  • The 1 billion per annum cost efficiency unlocking.

    每年10億的成本效率解鎖。

  • Brian Niccol - Chief Executive Officer

    Brian Niccol - Chief Executive Officer

  • Yes, the productivity effort. Yes, thanks. Yes, you got it.

    是的,生產力的努力。是的,謝謝。是的,你明白了。

  • Christine Cho - Analyst

    Christine Cho - Analyst

  • The productivity effort. Is that something?

    生產力的努力。那是東西嗎?

  • Brian Niccol - Chief Executive Officer

    Brian Niccol - Chief Executive Officer

  • So yes, look, the things we're working on are kind of what I shared in my opening remarks, which I believe will drive transactions because it's going to address our partner experience as well as our customer experience.

    所以,是的,看,我們正在做的事情就是我在開場白中分享的內容,我相信這將推動交易,因為它將解決我們的合作夥伴體驗以及我們的客戶體驗。

  • So I just spent a bunch of time talking about this, getting after the less than four minutes in the cafe, being on time and accurate in mobile order against certain time standards, getting the pricing architecture correct, broadening our reach beyond Starbucks rewards customers and then obviously creating that community house experience where people want to be in Starbucks, spend time in Starbucks, all those things will add up to I believe growth. And the good news is we've got some great assets and tools available to us, right? That rewards program is a valuable tool.

    所以我花了很多時間討論這個問題,在咖啡館裡度過了不到四分鐘的時間,根據一定的時間標準準時準確地在移動訂單上下單,獲得正確的定價架構,擴大我們的範圍,超越星巴克獎勵客戶和然後顯然要創造人們想要在星巴克里呆在星巴克裡、在星巴克裡度過時光的社區之家體驗,我相信所有這些都會促進成長。好消息是我們有一些很棒的資產和工具可供我們使用,對吧?該獎勵計劃是一個很有價值的工具。

  • It's not the only tool, but it's a valuable tool that I think we could make work harder for us if we put it in concert with marketing that has more broad reach. I think innovation, the capability this organization has on innovation is a powerful tool.

    它不是唯一的工具,但它是一個有價值的工具,我認為如果我們將其與具有更廣泛影響力的行銷相結合,我們可以讓我們的工作更加努力。我認為創新,這個組織在創新方面的能力是個強大的工具。

  • We haven't used it correctly of late, but I think if we use it correctly with the stage gate process driven against the idea of these operating standards of less than four minutes and then also delivering on customer’s expectations, innovation will be more powerful.

    我們最近沒有正確使用它,但我認為,如果我們在階段門流程中正確使用它,以反對這些不到四分鐘的操作標準的想法,然後也滿足客戶的期望,創新將是更強大。

  • So it is one of those things where as we get the foundation reset, I believe there's a lot of additional catalysts for growth in the business. And, if you're asking me how do I add it all up, I don't have an answer for you yet. What I can tell you it adds up to is more growth, it adds up to a turnaround and it adds up to growth.

    因此,當我們重新建立基礎時,我相信會有許多額外的催化劑來推動業務成長。而且,如果您問我如何將其全部加起來,我還沒有答案。我可以告訴你的是,它會帶來更多的成長,它會帶來轉變,它會帶來成長。

  • So that's what we're going to spend our time on. And then on the last piece of productivity, the billion dollars, I mean the good news is the team, especially the supply chain team has done a tremendous job of just being much smarter about how we I think work with our vendors and partners as well as the right way to bring then these products to market. It's powerful when you have the right product, the right place at the right time. It just becomes so much more efficient for everybody involved, both the supplier to all the way to our partner in store that has to deliver on.

    這就是我們要花時間做的事情。然後,關於最後一項生產力,即十億美元,我的意思是,好消息是團隊,尤其是供應鏈團隊,在我們如何與供應商和合作夥伴合作方面做出了巨大的工作,我認為這也更明智作為將這些產品推向市場的正確方式。當您在正確的時間、正確的地點擁有正確的產品時,它的力量就會非常強大。對於每個參與者來說,它都變得更有效率,無論是供應商,還是我們店內必須交付的合作夥伴。

  • So Rachel, if you want to add anything to that.

    雷切爾,如果你想補充什麼的話。

  • Rachel Ruggeri - Chief Financial Officer, Executive Vice President

    Rachel Ruggeri - Chief Financial Officer, Executive Vice President

  • The only thing that I would add Christine, is just to say that while we'll continue to focus on efficiencies, the target that we've shared previously will be part of as we think about reassessing the business and looking at the right near term and longer term strategies as part of our Back to Starbucks plan, we'll look at the optimal level of efficiencies.

    克里斯汀,我唯一要補充的是,雖然我們將繼續關注效率,但我們之前分享的目標將成為我們考慮重新評估業務並著眼於正確的近期目標的一部分作為我們“重返星巴克”計劃的一部分,我們將研究最佳效率水平。

  • But what you can expect is we will continue to Brian's point, we have so much opportunity across the end-to-end supply chain as we optimize throughout the store and even as we manage spend. And so we'll continue to be focused on that. I wouldn't be as focused on the billion dollars. I would just be focused on the fact that we will continue forward with efficiencies and we'll do that as a way to help offset some of the investments we'll be making. And in the future those efficiencies will help us not only support incremental investments, but they'll lead to margin expansion and earnings growth.

    但你可以期待的是,我們將繼續布萊恩的觀點,當我們優化整個商店甚至管理支出時,我們在端到端供應鏈中擁有如此多的機會。因此,我們將繼續關注這一點。我不會那麼關註十億美元。我只想專注於這樣一個事實:我們將繼續提高效率,並將這樣做作為幫助抵消我們將進行的一些投資的一種方式。未來,這些效率不僅將幫助我們支持增量投資,還將帶來利潤率擴張和獲利成長。

  • Operator

    Operator

  • Jon Tower, Citi.

    喬恩塔,花旗銀行。

  • Jon Tower - Analyst

    Jon Tower - Analyst

  • Great, thanks for taking the questions and Brian, congrats and I wish you guys all the best of luck getting this going in the right direction. Again, maybe just first when you're talking about the menu simplification and even just the simple idea of not charging for non-dairy modifiers, any way to quantify the dollar amount that that's contributing to revenue today?

    太好了,感謝你們提出問題,布萊恩,恭喜你們,祝你們好運,讓事情朝著正確的方向發展。再說一次,也許首先當你談論菜單簡化,甚至只是不收取非乳製品改良劑費用的簡單想法時,有什麼方法可以量化今天對收入貢獻的美元金額嗎?

  • And then I guess my broader question for you Brian, just looking at the brand from a high level, do you feel like it's a bit over distributed today? Specifically when I look at the US you have a large chunk of US company stores, but then you have a fairly large footprint of licensed stores.

    然後我想我要問你一個更廣泛的問題,布萊恩,從高層次上看這個品牌,你是否覺得它今天的分佈有點過度?具體來說,當我看美國時,你有大量的美國公司商店,但你也有相當大的特許商店足跡。

  • And when you're talking about going through all these initiatives, how can you apply that not only to your customers, your current company store base, but also to the licensed stores so that the customer gets a similar experience of venues?

    當您談論實施所有這些舉措時,您如何將其不僅應用於您的客戶、您目前的公司商店群,而且還應用於授權商店,以便客戶獲得類似的場所體驗?

  • Brian Niccol - Chief Executive Officer

    Brian Niccol - Chief Executive Officer

  • Yes. Thanks John. The look I will tell you I am pleasantly surprised to see how the license business in the US performs. I had the opportunity to spend some time with the guys at Target and I will tell you they are hugely supportive of the idea of getting back to Starbucks and I think they're going to want to give people the back to Starbucks experience that we're after. So I'm hugely optimistic.

    是的。謝謝約翰。我會告訴你,我很驚訝地看到美國的授權業務的表現。我有機會和塔吉特的員工們一起度過了一些時間,我會告訴你,他們非常支持重返星巴克的想法,我認為他們會想讓人們回到我們的星巴克體驗。所以我非常樂觀。

  • Even when I think about the airports and such, there's a huge opportunity for us, I think, to simplify some of the execution there so that we can get people the great throughput that they want so they can get on their way. So from what I can tell, everybody seems to be very excited about this idea of throughput with quality, this broader idea of just getting back to Starbucks. So I think this will carry not only in our license stores, but I think they'll carry it as it's their own, which I think is really important.

    即使我想到機場等,我認為我們也有巨大的機會來簡化那裡的一些執行,以便我們能夠為人們提供他們想要的巨大吞吐量,以便他們可以繼續前進。據我所知,每個人似乎都對這種吞吐量與品質的想法感到非常興奮,這種更廣泛的想法就是回到星巴克。因此,我認為這不僅會在我們的授權商店中銷售,而且我認為他們也會像自己的產品一樣銷售,我認為這非常重要。

  • And then what was the other part of your question?

    那你問題的另一部分是什麼?

  • Jon Tower - Analyst

    Jon Tower - Analyst

  • It was on the menu simplification, putting numbers around that or even just on the non-dairy modifier.

    它是在菜單簡化上,在菜單周圍加上數字,甚至只是在非乳製品修飾符上。

  • Brian Niccol - Chief Executive Officer

    Brian Niccol - Chief Executive Officer

  • Yes. So look, we're early days into the menu simplification, but there's definitely room for us, I think, to eliminate some products frankly, that add complexity, have a lot of waste and really don't add a whole lot to the experience.

    是的。所以看,我們還處於菜單簡化的早期階段,但我認為,我們肯定有空間消除一些產品,坦白說,這些產品增加了複雜性,產生了很多浪費,而且實際上並沒有給體驗增加太多。

  • And so we're going to have to be, it's going to be, in some cases it's tough because everybody has their one favorite thing that maybe is on the long tail of this. But we got to clear the way so that we can get to the big movers that people really interact with time and time again. And then on the customization, like the alt milk look, I've just seen time and time again when people start the process of their beverage, the price is, I think warranted given the caliber of the coffee or the drink that you're getting.

    所以我們必須,在某些情況下這會很困難,因為每個人都有自己最喜歡的事情,而這可能是長尾的一部分。但我們必須掃清道路,以便我們能夠接觸到人們一次又一次真正互動的大推動者。然後在定制方面,就像另類牛奶的外觀一樣,我一次又一次地看到人們開始加工他們的飲料時,價格是,我認為考慮到咖啡或飲料的品質,你是有理由的得到。

  • Where we sometimes I think get twisted is in all the different customizations that we offer up and then the complexity of the customization that people take us up on. And I think a lot of it is unnecessary. And I think when we simplify that aspect of it and then charge for the things that we should be charging for and maybe not charging for the things that don't really need to be charged for, I think everybody's going to walk away feeling a lot better about ultimately their personal beverage that they've created.

    有時我認為我們感到困惑的地方在於我們提供的所有不同的客製化以及人們接受我們的客製化的複雜性。而且我認為很多都是不必要的。我認為,當我們簡化這方面的工作,然後對我們應該收費的東西收費,並且可能不對那些實際上不需要收費的東西收費時,我認為每個人都會感觸良多最終他們創造的個人飲料更好。

  • So the numbers specifically, we're still working through some of that. Obviously we got a pretty good idea of what the alt milk implication is. But I'm confident it's the right investment in the business to get people to re-engage with the brand accordingly.

    具體來說,我們仍在研究其中的一些數字。顯然,我們非常清楚替代奶的意思是什麼。但我相信,這是對業務的正確投資,可以讓人們相應地重新參與品牌。

  • So I don't know if you want to add anything to that, Rachel.

    所以我不知道你是否想補充什麼,雷切爾。

  • Rachel Ruggeri - Chief Financial Officer, Executive Vice President

    Rachel Ruggeri - Chief Financial Officer, Executive Vice President

  • Yes, I would just say as you think about the investments we're making, which are going to be important to returning Starbucks to growth, just when you think about the shape of the year, you could expect that the first half of the year is where we'll be making the investment. So we'd expect that the back half of the year will be stronger as the investments and our strategies start to take hold.

    是的,我只想說,當你考慮我們正在進行的投資時,這對星巴克恢復成長非常重要,當你考慮今年的情況時,你可以預期今年上半年這是我們將進行投資的地方。因此,隨著投資和我們的策略開始生效,我們預計今年下半年將會更加強勁。

  • So that's the way I think about it. I think there'll be a more near term impact as we make some of these investments. But we expect that the traffic will return and that we'll see customers coming back into the stores and that will help to balance so that we see gradual momentum in the back half of the year.

    這就是我的想法。我認為,當我們進行其中一些投資時,將會產生更近期的影響。但我們預計客流量將會恢復,並且我們會看到顧客重新進入商店,這將有助於平衡,以便我們在今年下半年看到逐漸增長的勢頭。

  • Operator

    Operator

  • Peter Saleh, BTIG.

    彼得·薩利赫,BTIG。

  • Peter Saleh - Analyst

    Peter Saleh - Analyst

  • Great. Thanks for taking the question, Brian. I did want to ask again about the Siren system. This has been around for about two years now and I think the pushback in terms of broader development or expansion of the Siren system has been the too disruptive to the stores unless it's a remodel store or a new store. So I guess as you see it with fresh eyes, what do you see as the hurdle to a broader implementation of the Siren system? Is it that disruptive or is it just something that you're going to have to work through given the ultimate benefit of the system itself? Thank you.

    偉大的。感謝您提出問題,布萊恩。我確實想再次詢問有關警報器系統的事情。這種情況已經存在大約兩年了,我認為 Siren 系統的更廣泛開發或擴展方面的阻力對商店來說太具有破壞性,除非它是改造商店或新商店。所以我想,當您以新的眼光看待它時,您認為更廣泛地實施 Siren 系統的障礙是什麼?它是否具有破壞性,或只是為了系統本身的最終利益而必須解決的問題?謝謝。

  • . Thanks for taking the question. Brian, I did want to ask again about the siren system. You know, this has been around for about two years now and I think the push back in terms of broader development or expansion of the siren system has been, it's too disruptive to the stores unless it's a remodel store or a new store. So I, I guess as you see it with fresh eyes, what do you see as the hurdle to a broader implementation of the siren system? Is it that disruptive or is it just something that you're going to have to work through, given the, the ultimate benefit of the, of the system itself? Thank you.

    。感謝您提出問題。布萊恩,我確實想再次詢問有關警報器系統的問題。你知道,這已經存在了大約兩年了,我認為在更廣泛的開發或擴展警報器系統方面的阻力一直是,它對商店來說太具有破壞性,除非它是改造商店或新商店。所以我想,當您以新的眼光看待它時,您認為更廣泛地實施警報系統的障礙是什麼?考慮到系統本身的最終好處,它是否具有破壞性,或者只是您必須解決的問題?謝謝。

  • Brian Niccol - Chief Executive Officer

    Brian Niccol - Chief Executive Officer

  • Yes, thanks. Well, look, one of the things that we definitely have to fix is when we do renovations, we can't have stores closed for, two weeks or three weeks or whatever it is that is too disruptive. So the team knows that they're working on how we fix that. But that almost has nothing to do with the Siren system. That's just in general principle on renovations.

    是的,謝謝。好吧,你看,我們必須解決的一件事是,當我們進行裝修時,我們不能讓商店關閉兩週或三週,或任何太破壞性的事情。所以團隊知道他們正在研究如何解決這個問題。但這幾乎與Siren系統無關。這只是裝潢的一般原則。

  • The Siren system. I would say part of the reason why I think we've maybe took a not the most direct path on this is because we haven't had clarity of what problem we were trying to solve. And the problem we are solving now is getting to great experiences. If you really think about it, right. We've got three access modes. Okay. Or sorry, four access modes, if you include delivery, right? You got in cafe, you got mobile order pay, you got drive thru and you got delivery. All right, so there's four access modes common. And now we're in three lines of business, right? Hot, cold and food.

    警報器系統。我想說,我認為我們在這方面可能沒有採取最直接的路徑的部分原因是因為我們還不清楚我們要解決什麼問題。我們現在要解決的問題是獲得良好的體驗。如果你真的想一想,對吧。我們有三種訪問模式。好的。或者抱歉,如果包括送貨,有四種訪問模式,對吧?你進入咖啡館,你得到行動訂單支付,你得到得來速,你得到送貨。好吧,有四種常見的訪問模式。現在我們的業務分為三個領域,對嗎?熱、冷和食物。

  • And we have not had operating standards for time of service that we want to provide for each of those elements. So that's the problem we need to solve. And the good news is, even though it wasn't, I guess envisioned initially, a lot of the equipment and process solves bottlenecks that were kind of considered one off issues.

    我們還沒有為每個要素提供服務時間的操作標準。這就是我們需要解決的問題。好消息是,儘管事實並非如此,但我想,許多設備和流程都解決了被認為是一次性問題的瓶頸。

  • But when you put the whole thing together and you realize like, oh, this store is operating at such a transaction level, it's got such a food mix, it's got such a cold mix, it's got such a mobile order, you got to put the entire system in in order to achieve these operating standards of the excellence as it relates to the customer experience.

    但是,當你把整個事情放在一起時,你會意識到,哦,這家商店正在以這樣的交易水平運營,它有這樣的食物組合,它有這樣的冷組合,它有這樣的移動訂單,你必須把整個系統都是為了實現這些與客戶體驗相關的卓越營運標準。

  • So I would tell you, part of the reason why I think we've zigged and zagged on that Siren Craft system is because we didn't have clarity of what problem we were trying to solve. And now I think we've got clarity, which is we're all about great throughput for the access modes that our customers want to experience Starbucks.

    所以我想告訴你,我認為我們在 Siren Craft 系統上搖擺不定的部分原因是因為我們不清楚我們要解決什麼問題。現在我認為我們已經清楚了,我們的目標是為客戶想要體驗星巴克的存取模式提供巨大的吞吐量。

  • And I think I'm optimistic that we can roll this out accordingly. And the places where, you got the full scale bottleneck, they're going to be the first places that we implement this coupled with I want to touch the stores to bring back that coffee house experience. And look, the challenge or the problem for us to solve is I don't want the store closed for, weeks and we got to figure out how we can do it for less.

    我認為我對我們能夠相應地推出這項計劃感到樂觀。在那些遇到全面瓶頸的地方,它們將是我們首先實施這一點的地方,而且我想觸摸商店以帶回咖啡館的體驗。看,我們要解決的挑戰或問題是我不想讓商店關門幾週,我們必須弄清楚如何以更少的成本做到這一點。

  • So. And I think these things are all very solvable. So that hopefully that answers your question on the Siren Craft system. And more importantly, what's the problem we're trying to solve? And the problem we're trying to solve is I want to give a great customer experience from a time standpoint to go with the great craft quality, coffee drink experience, food experience you're getting.

    所以。而且我認為這些事情都是很好解決的。希望這能回答您關於 Siren Craft 系統的問題。更重要的是,我們要解決的問題是什麼?我們試圖解決的問題是,從時間的角度來看,我想提供出色的客戶體驗,並與您所獲得的出色工藝品質、咖啡飲用體驗和美食體驗相結合。

  • Operator

    Operator

  • Lauren Silberman, Deutsche Bank.

    勞倫·西爾伯曼,德意志銀行。

  • Lauren Silberman - Analyst

    Lauren Silberman - Analyst

  • Thank you and congrats. Brian, I wanted to ask about value. You talked about the pricing architecture, no plans to increase prices, removing the upcharge on non-dairy. How would you assess Starbucks value perceptions and to what extent you see that as a driver of current headwinds and then relatedly, how are you thinking about the architecture of the rewards program and opportunity there? Thank you.

    謝謝你並恭喜你。布萊恩,我想問價值。您談到了定價架構,沒有計劃提高價格,取消非乳製品的附加費。您如何評估星巴克的價值觀念,以及您在多大程度上將其視為當前逆風的驅動因素,然後相關地,您如何考慮那裡的獎勵計劃和機會的架構?謝謝。

  • Brian Niccol - Chief Executive Officer

    Brian Niccol - Chief Executive Officer

  • Yes. So, look, I think, like I said, I think we have a real opportunity in simplifying the pricing experience, Right? Because you start off with a price for a latte or whatever you start with, and then the next thing you start customizing. And right now everything has a kind of a different price. And, whether it's one pump, four pumps, frankly, I'm still wrapping my head around how the whole system works.

    是的。所以,我認為,就像我說的,我認為我們確實有機會簡化定價體驗,對嗎?因為你從拿鐵咖啡或任何你開始的東西的價格開始,然後你開始定制下一個東西。現在一切都有不同的價格。而且,坦白說,無論是一個泵還是四個泵,我仍然在思考整個系統的工作原理。

  • And that's part of the reason why I know we have to simplify it. What I have found is when you get simplification in place on pricing, people understand, okay, this is what I'm paying and this is what I'm getting. And right now, I think we're surprising people a little bit on what they're paying through the customization process, and we got to fix that.

    這就是我知道我們必須簡化它的部分原因。我發現,當你對定價進行簡化時,人們就會明白,好吧,這就是我所付出的,這就是我得到的。現在,我認為我們讓人們對他們透過客製化流程支付的費用感到有點驚訝,我們必須解決這個問題。

  • But look, if you actually look at just a brewed cup of coffee and you understood the commitment we have to the agriculture of that coffee bean, to the moment that that coffee bean roasts, to the moment that coffee bean makes its way to our store, we use equipment like Clover Vertica. It's freshly ground, freshly brewed. I'm highly confident it's probably the best cup of coffee you can get.

    但看,如果你真的只看一杯煮好的咖啡,你就會明白我們對咖啡豆農業的承諾,對咖啡豆烘焙的那一刻,對咖啡豆進入我們商店的那一刻,我們使用像Clover Vertica這樣的設備。它是新鮮研磨、新鮮釀造的。我非常有信心這可能是您能喝到的最好的一杯咖啡。

  • And we're going to make it a lot easier for people to get access to it. And I think when people discover that with a great environment, I think we're back to people saying, hey, this is really worth it. And that's what we got to work on. That's what we got to prove to our customer. And I think the combination of what I've outlined is going to do just that. And I think the good news is we don't have to wait.

    我們將使人們更容易訪問它。我認為,當人們發現擁有一個很棒的環境時,我想我們會回到人們說的,嘿,這真的值得。這就是我們要做的。這就是我們必須向客戶證明的。我認為我所概述的內容的結合就能做到這一點。我認為好消息是我們不必等待。

  • We can start that process. And that's why you see us doing things like bringing in the coffee condiment bar, not charging for all dairy. Okay, you're going to continue to see us make those moves that we can, and then you'll see us continue to test and learn our way into some of the other things that we need to take our time on and be smart about.

    我們可以開始這個過程。這就是為什麼你會看到我們做一些事情,例如引入咖啡調味品吧,而不是對所有乳製品收費。好吧,你會繼續看到我們採取我們能採取的行動,然後你會看到我們繼續測試和學習其他一些我們需要花時間和聰明的事情。

  • Operator

    Operator

  • Thank you. That was our last question. I will now turn the call over to Brian Niccol for closing remarks.

    謝謝。這是我們最後一個問題。我現在將把電話轉給布萊恩·尼科爾 (Brian Niccol) 作結束語。

  • Brian Niccol - Chief Executive Officer

    Brian Niccol - Chief Executive Officer

  • All right, well, thank you, everybody. It was great to hear some familiar voices and, thank you for the kind words. Obviously, I just want to reiterate, I believe Starbucks is one of those great special companies and brands, and it's a real pleasure and honor to have the opportunity to be in this role.

    好的好的,謝謝大家。很高興聽到一些熟悉的聲音,謝謝你的客氣話。顯然,我只是想重申,我相信星巴克是那些偉大而特殊的公司和品牌之一,有機會擔任這個角色真是令人高興和榮幸。

  • And thank you for your time and your questions. I'll just reiterate a few things. Obviously Q4, the fiscal year, they were disappointing, but, fundamentally we're changing our strategy.

    感謝您抽出時間並提出問題。我只是重申幾件事。顯然,第四季度,即本財年,他們令人失望,但從根本上來說,我們正在改變我們的策略。

  • Okay. And we have a clear path on how we're going to get back to Starbucks. And hopefully what you've heard from us is we're already taking steps to start driving this idea of throughput with quality, getting the staffing right in our stores, making movement on our pricing architecture and bringing, I think some order to mobile orders while we also reclaim the third place and overhaul our marketing.

    好的。我們對於如何重返星巴克有明確的路線。希望您從我們這裡聽到的是,我們已經採取措施開始推動這種吞吐量與品質的理念,在我們的商店中配備合適的人員,對我們的定價架構進行調整,並帶來一些訂單,我認為行動訂單同時我們還奪回了第三名並徹底改革了我們的行銷。

  • So a lot of work is happening. I think it's been clearly communicated to the organization. Hopefully you have a clear understanding of what we're focused on. And I'm confident this early work will start to stabilize the business. We'll make it easier and quicker for our customers to get a great cup of coffee. We'll make our cafes more enjoyable.

    所以很多工作都在進行。我認為已經向組織明確傳達了這一訊息。希望您清楚了解我們的重點。我相信這項早期工作將開始穩定業務。我們將使客戶更輕鬆、更快捷地獲得一杯美味的咖啡。我們會讓我們的咖啡館變得更加愉快。

  • And I think that's going to help bring customers back into our stores. And most importantly, I think our barista is going to be really proud of the store that they work in and the experience that they provide. So as I said at the top of the call, I'm very optimistic.

    我認為這將有助於吸引顧客回到我們的商店。最重要的是,我認為我們的咖啡師會對他們工作的商店和他們提供的體驗感到非常自豪。正如我在電話會議開頭所說,我非常樂觀。

  • Despite the near term challenges, I believe we have significant strengths, a strong, enduring brand. We have a clear plan, we're going to be moving quickly. There's a lot of important work ahead of us.

    儘管近期面臨挑戰,但我相信我們擁有顯著的優勢,一個強大、持久的品牌。我們有一個明確的計劃,我們將迅速採取行動。我們還有很多重要的工作要做。

  • And look, I look forward to updating each and every one of our results as we go. And I'm confident we're going to return Starbucks to growth. So with that, thank you and have a great day.

    看,我期待著不斷更新我們的每項結果。我相信我們將使星巴克恢復成長。所以,謝謝你,祝你有美好的一天。

  • Operator

    Operator

  • Thank you. This concludes Starbucks fourth quarter and full fiscal year 2024 conference call. You may now disconnect.

    謝謝。星巴克第四季和 2024 財年電話會議至此結束。您現在可以斷開連線。