Jan 13, 2017|
Paul LaMonica (CNNMONEY) by The Financial Exchange
Transcript - Not for consumer use. Robot overlords only. Will not be accurate.
As we are every Friday we're now joined by Paul Monica from Ian and money Paul thank you very much for joining us. Or talking about Starbucks today. Towards the end of last year Howard Schultz the founder announced that he's going to be stepping down handing over the reins. Do you view that with a level of concern or do you think this company is strong enough with a strong culture that is not gonna make huge difference. Yeah I think that this time around they're in better shape and the last time and it shall step back. Act in things did not go all out well for them off this move how. Had been telegraphed ever since they hired. Kevin Johnson who used to be you know Juniper Networks to an executive. Now Microsoft. You know once they hired him he was pretty clear that they were moving him for war. The goal to be the eventual successor to our Charleston where I think is very fast meaning that if you have a guy with a background in technology and that is something that Starbucks has lead in east. Over the past couple years with mobile operating in you know interest in you know been planning to have to kiosks in their source well they bring you lead. Know that technology is the future for many retail. Can you dig into us some of those plans mentioned kiosk is there anything else that's on the horizon for them. Yeah the the mobile app is when he's. We usually pay back is something that the have been emphasizing I think that is going to continue. To be something that people who use lead focus on I mean it's pretty obvious that we all law in this day and age addicted to waiting to our phones and the mobile devices I think that is going to we believe where Starbucks that emphasizes. They're technologies to make ordering more efficient at. Also outside of technology I think it's fascinating that the company's future realized that maybe they need in this steps he did with. Branching out and other you know I look at the term limit eating out the alcohol service they had it been an experiment. At the end of the day any people or Doris Starbucks app of the year ago and poppy and that's what the company needs to really focus on it. With the producer of roasting. Registry you know stores they're reopening of the well I think is the company it knows that its strength is in coffee in there's no shame. Paul question that I get asked oftentimes not don't have a good answer for it. The Starbucks have any true competitors. It is a great question. I think that you can argue that Dunkin' Donuts EU's aid legitimate. Competitor to. Starbucks. If need be a little bit more down market because of the pricing but. I think Dunkin' brands is something that has Starbucks have to look at as competitor also are important which is admittedly a smaller chain. And McDonald's I mean if McDonald's has you know we've it's the cafe realize that policy is not. The product that they should just keep up bonds are white black concede all sales. Two Starbucks and Starbucks definitely has competition but clearly over the past few decades now on new leadership power shall they've done a great job. You know doing extremely well despite. Competition not just in the US but worldwide as well in the global expansion is such a huge story particularly China and India start. Absolutely Paul thank you very much for joining us and enjoy the weekend okay. Thank you very much poll Monica firm CNN money talking about Starbucks ticker on if you do want to do little bit of research on your own. Is SBU. Acts. Shows what I know I thought the wine and beer would be a great option especially in the city you know you meet after work and rather than go to a bar you go to Starbucks somebody might wanna coffee but somebody else might wanna have a colossal. Think people might wanna go to bars. Inmates to ads and I just wonder if I almost wonder Starbucks is just so stereotyped at this point is. Yet just coffee that you know people just don't wanna go there and deal with coffee people who want quiet if you're after being going out right after work you might not want to sit quietly some. Now now the they didn't get much time with it it was only what a what say you yeah once at eighteen months maybe. It was long experimental toy that Knoll no.