Jim Cramer on Starbucks: "I Remain Very Bullish"

Starbucks Corporation (NASDAQ:SBUX) is one of the stocks on Jim Cramer’s radar recently. Cramer discussed the company’s latest layoff plans, as he said:

“Finally, there’s Starbucks, which today announced that they were laying off 900 corporate workers, as they also told us they’d be shrinking their North American store count by 1% this year. It’s a billion-dollar restructuring plan. It’s meant to make Starbucks more profitable. You could argue that this could have been done at any time, but I think Starbucks is part of the real economy, and the real economy, it stinks. I remain very bullish, though. I think CEO Brian Niccol’s plan to get Starbucks back on track is terrific. And I advised members of the CNBC Investing Club in our morning meeting streaming show, do some buying. It’s going to send the earnings up, not down.”

Starbucks Corporation (NASDAQ:SBUX) is a coffee roaster, marketer, and retailer offering beverages, coffee products, and food items. Its portfolio includes Starbucks, Teavana, Seattle’s Best Coffee, Ethos, and Starbucks Reserve brands.

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