Dutch Bros CEO lays out the coffee chain’s cross-country expansion plans

by thinkia.org.in
0 comment


Dutch Bros. CEO Christine Barone described the coffee chain’s cross-country expansion plans in a Friday interview with CNBC’s Jim Cramer, saying it may be some time before the Oregon-based company opens stores in the Northeast region.

“We’re really growing in a contiguous way, so that we’re growing across states that are next to each other,” Barone said. “We just had the ability to enter Florida this year. So, we still have a lot of growth ahead of us. We will be there, but it’ll be a little while.”

Dutch Bros. operates in 18 states on the West Coast and in the South, including in California, Arizona and Texas. The company made its market debut in 2021, and the stock is currently up 48.97% year-to-date. It reported a solid quarter Wednesday night that sent shares surging more than 28% Thursday, and they continued to climb during Friday’s session, closing up more than 5%.

Stock Chart IconStock chart icon
hide content

Dutch Bros stock year to date

According to Barone, the company’s growth is “predicated on people” and added that the chain received 400,000 applications for 11,000 available positions this year. During Dutch Bros.’ recent earnings calls, Barone said management plans to open at least 160 new shops in 2025. She also discussed the company’s product strategy, saying Dutch Bros. puts an emphasis on iced beverages and personalized drinks.

“Personalization has been a big part of us since the very beginning,” she said. “So, I think we’ve really built our operations, and we’ve built our brand around the ability to personalize really well.”

Dutch Bros. CEO Christine Barone goes one-on-one with Jim Cramer

Jim Cramer’s Guide to Investing

You may also like

Thinkia is a professional platform where we provide informative content like current world news, all types of educational content, health awareness, food awareness, travel awareness, ideas and tips. We hope you like all the content provided by us.

Editors' Picks

Latest Posts

Copyright © 2024 | Thinkia | All Right Reserved