Rachel Ruggeri

“As Brian shared, we're pleased with our start to fiscal year 2025 with our Q1 performance meeting our expectations. Our "Back to Starbucks" strategy has already driven early progress, including gradual top-line improvement, giving us confidence that we're focused on the right priorities.”

“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.”

“As Laxman shared, we are seeing progress against our three-part action plans. Additionally, our efficiency efforts, which are tracking ahead of expectations, partially offset investments associated with the cautious consumer environment.”

“As Laxman shared, our performance this quarter did not reflect what we're capable of as a company. We have an incredible brand, loyal customers globally, a strong portfolio of highly profitable stores, and a connection with our partners and customers that's unlike any other in our industry.”

“Let me start by saying that I am so proud of the significant margin expansion and double-digit earnings growth we delivered in our first quarter despite the top line headwinds we experienced.”