Something as simple as a hot coffee and sweet doughnut trade thesis appears to be working into the cold, wintry holiday season. DNKN is trying to emerge from a long IPO base, while KKD is pressing up and off its rising 20-day moving average. SBUX also continues to move well.
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SBUX is running into taxation headwinds in Europe. Management has, so far, done an ok job responding, but defending agressive tax strategies is not exactly “the done thing” these days. The SBUX European summary: lower margins, and, if management fails to perform, lower turnover… does anyone care about SBUX’s European fortunes or is the future all Asian?