Starbucks (SBUX) Plans Store Closures, Is The Pullback A Valuation Opportunity?

Starbucks (SBUX) is back in focus after its board approved further steps under the Back to Starbucks plan, including closing about 1% of North America coffeehouses and recording roughly $300 million in related restructuring charges. Recent price action has been choppy. Starbucks shares are down about 10.2% on a 30 day share price return and 8.5% on a 90 day share price return, even as the year to date share price return is 13.7% and the 1 year total shareholder return sits at 16.0%. This...