Turnaround Stabilizes

Brian Niccol's restructuring begins to show traction as Starbucks exits structurally weak North American stores while protecting higher-volume urban, suburban, and drive-thru locations. The base case is that the second closure round is painful but still viewed as a disciplined reset rather than evidence of a collapsing brand.

Each figure is the modeled move of the S&P 500 if the outcome occurs. For information only. Not investment advice.