“It’s the end of movies as we know it.”
MarketFoolery
The Motley Fool
4.7 • 1.7K Ratings
🗓️ 29 July 2020
⏱️ 21 minutes
🧾️ Download transcript
Summary
Starbucks rises despite same-store sales falling 40% in the 3rd quarter. Spotify’s 2nd quarter report has it closing in on 140 million paid subscribers. Scotts Miracle-Gro hits an all-time high after a fantastic 3rd-quarter. Dan Kline analyzes those stories, as well as AMC Theaters striking a landscape-shifting deal with Comcast’s Universal Pictures.
Transcript
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| 0:00.0 | It's Wednesday, July 29th. |
| 0:04.0 | Welcome to Market Foolery. |
| 0:05.0 | I'm Chris Hill with me today. |
| 0:07.0 | Our man in Florida, it's Dan Klein. |
| 0:09.0 | Thanks for being here. |
| 0:10.0 | Ah, hey there, Chris, I'm caffeinated and ready to go. |
| 0:12.0 | You're previewing. Hey there Chris, I'm caffeinated and ready to go. |
| 0:17.9 | You're previewing the first stock on the docket for us today. We've got a landscape shifting deal in the movie industry. |
| 0:21.3 | We've got another boring business hitting a new all-time high. But we're going to start with Starbucks. |
| 0:27.0 | Same store sales in the third quarter fell 40 percent, but the loss was smaller than expected, the revenue was higher than expected, and |
| 0:37.2 | shares of Starbucks up about 4 percent today. |
| 0:40.1 | Yeah, Chris, can numbers be catastrophic and fabulous at the same time? |
| 0:44.3 | Apparently they are. |
| 0:46.3 | The challenge here is, and it's something that doesn't get talked about enough, but it came |
| 0:49.5 | out in the McDonald's earnings call. |
| 0:51.6 | Starbucks is a breakfast driven business |
| 0:54.2 | and you know what people aren't doing? |
| 0:55.8 | They're not getting up and going to work. |
| 0:57.5 | So that is a big problem. |
| 0:58.8 | Now, anecdotally, the Starbucks near me, |
| 1:01.5 | and there's two of them are very crowded, drive through and pick up only, they're not open in the dining room, but the schedule is weird. People don't have to get coffee before they go in so just some of the times they played |
| 1:14.4 | best just haven't recovered and probably won't recover but a lot of their loss |
... |
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