While some believe that Chicago is a vibrant city full of opportunities, others believe it’s just too dangerous to visit these days. The idea of going to see a cafe owned by coffee giant Starbucks (SBUX) might seem like a terrible reason to visit Chicago, but it actually might be smarter than you think. Chicago is now home to an “uplifted” Starbucks with plenty of new changes. But investors seemed less than pleased, and sent shares down fractionally in Friday’s trading.
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Starbucks renovated the cafe at 4155 N. Cicero Avenue, out in Old Irving Park, and reports note that they renovated in a very big way. The Starbucks in question is now full of leather couches and similarly cushy chairs, backed up by throw rugs, new drapes, and coffee-themed art. It is said to have a “cozier” feel overall, though that will vary from person to person.
Regional vice president of operations for Starbucks, Shanel Williams, noted, “We’re redesigning our spaces in a way that is warm, it’s cozier, it’s more inviting. Customers want to come and stay longer.” Williams recently participated in a ribbon-cutting event at the new store, trying to draw attention to the “uplifted” location. This is all part of Starbucks’ larger push to reestablish itself as a “third place,” and only time will tell just how well it all works.
Puppy’s First Pup Cup
Meanwhile, Starbucks is taking advantage of the incredible power of cute puppies to draw some more attention its way. A Golden Retriever pup by the name of Goose went on a Starbucks run with his owner—his first such appearance in a Starbucks—and was treated to a “pup cup” by said owner. The “pup cup,” or “puppuccino,” is basically just a cup of whipped cream, for those not familiar.
Goose, traveling in a tote bag, made the scene and became an instant delight for those around him. While there was some debate over whether or not whipped cream was good for dogs, it was quickly found that it was all right, in small doses, much the same way it is for humans. The only real exception was for lactose-intolerant dogs, which Goose seemingly was not.
Is Starbucks Stock a Good Buy?
Turning to Wall Street, analysts have a Moderate Buy consensus rating on SBUX stock based on 13 Buys, 11 Holds, and three Sells assigned in the past three months, as indicated by the graphic below. After a 13.45% rally in its share price over the past year, the average SBUX price target of $100.26 per share implies 4.22% upside potential.
