Starbucks’ (NASDAQ: SBUX) fiscal Q3 results prove Brian Niccol was the right CEO at the right time. His Back to Starbucks strategy took time to gain traction, but it has, with comps back in growth mode and margins expanding.
The news is exactly what the market needed, affirming the world’s leading coffee chain as the number one "third place" (with home being first and work second) for consumers. In this environment, Starbucks can continue to gain momentum and transfer it to its share price. As it stands, SBUX stock is on track to break out and retest multi-year highs.
