Starbucks Corporation (NASDAQ:SBUX) is one of the Jim Cramer Warns Viewers About FOMO & Discusses These 19 Stocks.
Starbucks Corporation (NASDAQ:SBUX) is a frequent feature of Cramer’s morning show. In most of his appearances, the CNBC host spends quite a lot of time defending CEO Brian Niccol from bearish market sentiment. Recently, he praised Niccol’s strategies of cutting prices in China and purportedly selling some of Starbucks Corporation (NASDAQ:SBUX)’s China operations. This time around, he delved a bit deeper into the latter front:
“What Starbucks? Meeting with Brian Niccols, one of the firms met with him and I think that there are a lot of people who doubt Brian. I think why don’t I send those people an invitation to their own funeral? Barclays, 98 goes to 108, fundamental metrics.
“[On reporting surrounding a possible China sale] Okay so Brian told me. . .you once explained to me about how it works. That there is a lot of firms that will hire. . .whatever and say hey listen I’m exiting the Chinese business. Next thing you know you got a dialogue. And next thing you know, you hear about talks. Remember how you taught me that? That’s what this is. It’s like some people are saying hey listen I’m ready to buy. What Brian was I think kind of stunned by is that so many companies wanted.
“[On whether that would motivate him to sell] I know this sounds rare in this world, Brian will do what’s right. If he thinks that that’s a good thing, he will sell it. He has no agenda on this. He just wants to make a lot of money for shareholders. His main thing was the four minute Starbucks. He’s got it down. No one’s talking about this. It’s the most important thing he’s done. The throughput. He has it so that the time between order and cup, four minutes. People said that it couldn’t be done. People said it couldn’t be done with this labor force. I am so all in Brian Niccol. That he is, Brian Niccol is to coffee, as Jensen Huang is to semis.”
A barista pouring a freshly brewed cup of coffee from a high-end espresso machine.
Cramer’s previous remarks about Starbucks Corporation (NASDAQ:SBUX)’s CEO were quite detailed:
“I see the name Starbucks Corp (NASDAQ:SBUX) stock down five and change and I’m boiling. I got—I’m steamed. Not the company or the CEO Brian Niccol or even the coffee. No, I was steamed because of the stupid sellers who are furiously dumping the stock as fast as they could. Sell, sell. There’s Brian Niccol. How dare they. The market opened up hideously off an awful gross domestic product number this morning—showed the economy actually shrinking. Oh my god. 3% in the first quarter. So Starbucks Corp (NASDAQ:SBUX) was just part of the red ink that drenched us.
Why? Because of Niccol, that’s why. You see, I find that when you have a bankable jockey — and Brian’s the man who previously turned around Chipotle — the operator took the chain from the brink of food contamination death and moved the stock up 776% during his tenure versus 109% for the S&P. Well, you gotta ride him. Niccol. You gotta ride him. A Starbucks Corp (NASDAQ:SBUX) newfound glory coming.”
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Disclosure: None. This article is originally published at Insider Monkey.
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