Starbucks has sought every means to fuel its growth while fending off smaller, lower-cost rivals like Dunkin’ Donuts. And a push to lease stores, rather than own them, may be part of the answer.
The two companies have vied for foot traffic to maintain same-store
sales growth, which for Starbucks Corp. is at its lowest level since
2009. But given Dunkin’ Brands Group Inc.’s advantage in real gross
margin growth since 2016 -- and in return on assets going back even
earlier -- Starbucks could use an advantage that Dunkin’ can’t mimic.. . . more