Only 1 Coffee Stock Is Still Growing. Is It a Buy?
While nearly everything seems to cost more today than it did at the start of the year, at least the thing that gets most people's day started is cheaper than it was. Coffee beans are going for $2.10 per pound, down 13%, which is good news for coffee shops that are seeing the number of customer visits decline from the effects of inflation.
Geolocation data analytics firm Placer.ai says that as consumers have felt the pinch of rising prices, whether it be for food or gas, they are now cutting back on their visits to their local coffee shops.
Foot traffic at Starbucks (NASDAQ: SBUX) fell 4.1% in June, while it tumbled almost 8% at Dunkin' Donuts. In fact, traffic is down across the whole sector and has fallen below the quick-serve space as a whole for the first time in two years. And the two big chains aren't making any ground over their pre-pandemic levels, either.
Source Fool.com
