Starbucks Corporation (SBUX): Don't Worry About Luckin Coffee, Says Jim Cramer

We recently published 13 Stocks That Jim Cramer Recently Talked About. Starbucks Corporation (NASDAQ:SBUX) is one of the stocks Jim Cramer recently discussed.

Starbucks Corporation (NASDAQ:SBUX) is one of Cramer’s favorite stocks, primarily due to the firm’s CEO, Brian Niccol. Niccol is currently embarked on a turnaround effort at the firm, and despite Starbucks Corporation (NASDAQ:SBUX)’s shares being flat year-to-date, Cramer has remained a believer. In his previous comments, he has dismissed bearish investors and pointed towards Niccol’s successful tenure at Chipotle. This time, he commented on reports of Chinese Luckin coffee stores expanding to the US:

“Are the two Luckin stores really going to destroy him [Niccol] that I read in the news? Lookout. What the heck. It’s Brian Niccol we’re talking about.”

The CNBC TV host discussed Starbucks Corporation (NASDAQ:SBUX) ahead of its earnings. Here is what he said:

“After close, we get Starbucks. That’s a company that’s climbed relentlessly until yesterday, of course, after that drop to the 70s. I bet new CEO Brian Niccol is ready to announce his China plans and to speak proudly of his success in improving throughput. Now it’s quite a contrast from the weaker Chipotle, the company Starbucks poached him from. That was a very tough quarter.”

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Disclosure: None. This article is originally published at Insider Monkey.