Steve Matt's avatar
$10.4m follower assets
Doing $BROS boots on the ground research
Line was stupid long. Think I need to buy more shares.
Strat Becker's avatar
Might have really good sales momentum, but any concerns about the failure to handle margin pressures and valuation still being very high?
Steve Matt's avatar
@strat Valuation generally doesn't concern me. My horizon is minimum 10 years, hopefully more like 20+ so I am just trying to own great companies. If I buy high and it falls due to multiples compression, if my thesis isn't broken, I'll just add some more. I am watching margins but not panicking. I bought knowing there'd be struggles along the way as they attempt to build out their chain. I'm mostly watching same-shop sales. They're guiding for flat-to-decreasing due to inflation and their demo being younger, so spending power seems to be hurt more. As inflation abates, the comp sales will need to rebound accordingly.
Nathan Worden's avatar
I love this picture 😄
Joey Hirendernath's avatar
Great picture of two of my favourite things, dogs and coffee.

Dutch Bros coffee, is it better than Starbucks?
Steve Matt's avatar
@joeyhirendernath I'm not a big Starbucks guy (although I do own shares). I'm more of a make-a-cup-of-black-at-home guy. However, BROS isn't (currently) going after the SBUX crowd. They target 25 and under, only have drive-thru's and outdoor walk-up ordering. Something like 84% of their sales are iced drinks. Their #1 seller is their Rebel energy drink. Definitely taking a different approach, which is what attracted me to them. My drink was delicious though lol