-1.3 C
Ottawa
Thursday, November 14, 2024

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

Date:

Might be a 'little while' before Dutch Bros. expands to the Northeast U.S., says CEO Barone

Thank you for reading this post, don't forget to subscribe!

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

know more

Popular

More like this
Related

Beverly Hills surgeon sues Medtronic for patent infringement

Michael Siluk | Education Images | Universal Images Group...

Republicans projected to win House majority, securing GOP trifecta

Speaker of the House Mike Johnson, R-La., holds the...

10-year Treasury yield is little changed after tame inflation report

The 10-year Treasury yield was little changed Wednesday as...

Viktor Gyokeres to Man Utd ruled out as ‘doomed project’ criticised

Lots of talk about Viktor Gyokeres to Man Utd? But why would Europe’s hottest striker join a ‘doomed project’? Plus, Ten Hag, Vinicius and Sunderland… Send your views to theeditor@football365.com Gyokeres to Man Utd? Really? Such rubbish stories coming out about Gyokeres and others following Amorim . Gyokeres in particular I would think would want