Innovation has always been one of the important strategies of Starbucks Coffee Company (SBUX). The company has been strengthening its product portfolio with significant innovation around at-home coffee, refreshment, health and wellness, tea and core food offerings.
Recently, Starbucks introduced a number of new products to meet changing consumer preference. The company launched Starbucks Vanilla Macchiato and added four new sandwiches to its breakfast options. The company is also offering Starbucks Tribute Blend for a limited time period.
Starbucks Macchiato is an espresso marked with Starbucks signature and is an addition to the company’s existing two Macchiato flavors. Macchiato is now available in three flavors, Vanilla, Caramel and Hazelnut. Starbucks Vanilla Macchiato blends the flavor of vanilla with one of Starbucks’ most popular drinks, the Caramel Macchiato.
Besides drinks, Starbucks has enhanced its core food offerings since the acquisition of The La Boulange bakery in the fourth quarter of fiscal 2012. The four new sandwiches offered include New Slow-Roasted Ham & Swiss, New Vegetable & Fontiago, New Egg & Cheddar and a new and improved Reduced Fat Turkey Bacon. These sandwiches use premium ingredients like organic wheat English muffin, Swiss cheese, caramelized onions and reduced fat turkey bacon. The introduction of these food items is expected to boost sales and increase traffic at its stores.
Additionally, Starbucks Tribute Blend coffee will be available in various versions such as whole bean, Starbucks VIA Tribute Blend, Starbucks Tribute Blend K-Cup packs and Tribute Blend in Verismo pods. Starbucks Tribute Blend combines four popular coffees namely aged Sumatra, sundried Ethiopia, Papua New Guinea, and Colombia, to create a perfect blend. The company will also offer Colombia Nariño coffee for a limited period.
Starbucks carries a Zacks Rank #3 (Hold).
Other better-ranked stocks in the retail restaurants industry include Buffalo Wild Wings Inc. (BWLD), Famous Dave's of America Inc. (DAVE) and Brinker International, Inc. (EAT). All the three companies carry a Zacks Rank #2 (Buy).
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