Starbucks Sales Accelerate as Turnaround Gains Steam

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Bloomberg Intelligence hosted by Paul Sweeney and Scarlet Fu

-Michael Halen, Bloomberg Intelligence Senior Restaurant and Foodservice Analyst, discusses Starbucks Chief Executive Officer Brian Niccol delivering the best evidence yet that his turnaround plan is taking hold, with the coffee chain posting unexpectedly strong growth and a solid outlook for the rest of the year.

-John Butler, Bloomberg Intelligence Senior Telecom Analyst, discusses AT&T earnings. AT&T reported fourth-quarter profit and revenue that beat analysts’ estimates, buoyed by customers who subscribed to more than one connectivity service. The company added more than half a million fixed and mobile internet subscribers in the quarter.

-Caroline Hyde, BTech Co-Anchor, discusses top tech stories. ASML posted record orders in the fourth quarter, even as the Dutch semiconductor equipment maker’s executives faced questions during a call with analysts about whether it can sustain its artificial intelligence-fueled momentum. Amazon.com Inc. is cutting 16,000 corporate jobs worldwide in an effort to remove layers of bureaucracy and “increase ownership,” becoming the latest company to target managers for layoffs in recent years. SoftBank Group Corp. is in discussions to invest as much as $30 billion more in OpenAI, a sharp increase in commitment that reflects founder Masayoshi Son’s ambitions to play a central role in developing artificial intelligence.

-Andrea Felsted, Bloomberg Opinion Columnist, discusses LVMH. -Sales at LVMH’s key fashion unit fell over the holiday season as the Louis Vuitton owner continued to suffer from sluggish demand. Organic sales at the fashion and leather goods division fell 3% in the fourth quarter, LVMH Moët Hennessy Louis Vuitton SE said in a statement Tuesday. Analysts had expected a drop of 2.94%.

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