2024-03-03 12:09:00 ET
It hasn't been a fun time for Dutch Bros (NYSE: BROS) shareholders. Since hitting a peak in November 2021, the stock has cratered 62% as it tries to regain its footing. Perhaps the initial excitement surrounding this growth stock has calmed down a bit.
But that price performance hasn't prevented some of Dutch Bros' most bullish supporters from hoping it can become the next Starbucks . Is this even a possible outcome? Let's take a closer look.
Dutch Bros just reported its 2023 financial results, and unsurprisingly, its growth took the spotlight. Revenue jumped 31% from 2022. And the business opened 160 net new stores during the 12-month period, bringing the total to 831. The company, which has a strong presence in the western and southern parts of the U.S., is gaining customers thanks to its customizable beverage offerings and accessible store formats.
For further details see:
Can Dutch Bros Become the Next Starbucks?