Nerses Setyan's questions to Dutch Bros Inc (BROS) leadership • Q4 2024
Question
Nerses Setyan inquired about potential inflation in cost of goods sold aside from coffee and asked for an update on the food test, including its scale, expansion plans, and any performance metrics.
Answer
CFO Josh Guenser clarified that the COGS guidance, which projects 110 basis points of pressure, is a net figure that includes all commodity impacts and pricing, with coffee being the vast majority of the headwind. CEO Christine Barone stated that the food test remains in a very early stage, operating in just eight shops, and the company is still refining assortment and operations, making it premature to share further details.