Trend Analysis: Weakness From Occasional Customers
“Headwinds discussed last quarter have continued in a number of key markets, we continue to feel the impact of a more cautious consumer, particularly with our more occasional customer, and a deteriorating economic outlook has weighed on customer traffic and impact felt broadly across the industry.” Laxman Narasimhan – Chief Executive Officer (2Q24 Earnings Call)
Trend Analysis: Menu Changes a Hit With Customers
“And Lavender was quite successful for us, as you heard in Laxman’s prepared remarks. What we were encouraged by is that Lavender spoke to where our customers, particularly our Gen Z and Millennial customers, are now asking about, which is more news more often in a broader offering, so offering coffee, non-coffee, food, healthier choices.”
“And so, we hit squarely with that with Lavender, by having particularly our most popular offering in Lavender was the Iced Lavender Matcha Latte. And so, that shows that when we innovate well, and our own expectations. And so, that shows that when we innovate well, it’s meeting our own expectations.”
Rachel Ruggeri – Chief Financial Officer (2Q24 Earnings Call)
