On August 22, Starbucks rose 3.22% in regular trading, trading at $107.16/share, with turnover of $427 million. The stock gained as the market positively interpreted the company's latest restructuring moves as a continuation of CEO Brian Niccol's cost optimization under the \"Back to Starbucks\" strategy.

The company recently eliminated approximately 220 positions at its Washington headquarters, including 104 roles in the store design and construction team, while roughly 120 employees separated after opting not to relocate to a new Nashville office from Seattle. Multiple investment banks, including Deutsche Bank, Morgan Stanley, and RBC, recently raised their price targets on Starbucks, with the highest at $126, further boosting market confidence.

The restructuring follows a strong fiscal Q3 report in which Starbucks delivered adjusted EPS of $0.85, up 70% year-over-year and well above the $0.66 consensus estimate, while North America comparable store sales grew 8.1%. The company also raised full-year guidance, projecting U.S. same-store sales growth of over 6%.

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