Dutch Bros Inc. Reports Fourth Quarter and Fiscal Year 2023 New Shop OpeningsCoffeeNetwork (New York) - Dutch Bros Inc. (NYSE: BROS) one of the fastest-growing brands in the quick service beverage industry in the United States by location count, reported highlights for the quarterly and annual periods ended December 31, 2023. The Company also released shop opening guidance for 2024, announced senior leadership changes that underscore its commitment to building a best in class team to drive scale and support its long runway for growth, and announced its participation at the 2024 ICR Conference.
Fourth Quarter and Full Year 2023 New Shop Openings:
- Opened 37 new shops in the fourth quarter of 2023, of which 32 were company-operated.
- Opened 159 new shops in the full year 2023, of which 146 were company-operated.
- As of December 31, 2023, the Dutch Bros system consisted of 831 shops (542 company-operated and 289 franchised-operated) across 16 states.
Preliminary Fiscal Year 2024 Outlook: Total system shop openings are expected to be at least 150 - 165.
Leadership Team Additions: The Company plans to welcome three new leaders in the coming months: Joshua Guenser as Incoming Chief Financial Officer on or about February 19, 2024; Sumitro Ghosh as Incoming President of Operations on or about January 15, 2024; and Jess Elmquist as Chief People Officer on January 8, 2024. The Company expects that, following these leadership transitions, longtime Dutch Bros executive Brian Maxwell, currently Chief Operating Officer, will transition into the role of Vice Chairman, reporting to Co-founder and Executive Chairman, Travis Boersma, subject to his appointment by the Board of Directors (the “Board”).
Alexis Rubinstein
The StoneX Group Inc. group of companies provides financial services worldwide through its subsidiaries, including physical commodities, securities, exchange-traded and over-the-counter derivatives, risk management, global payments and foreign exchange products in accordance with applicable law in the jurisdictions where services are provided. References to over-the-counter (“OTC”) products or swaps are made on behalf of StoneX Markets LLC (“SXM”), a member of the National Futures Association (“NFA”) and provisionally registered with the U.S. Commodity Futures Trading Commission (“CFTC”) as a swap dealer. SXM’s products are designed only for individuals or firms who qualify under CFTC rules as an ‘Eligible Contract Participant’ (“ECP”) and who have been accepted as customers of SXM. StoneX Financial Inc. (“SFI”) is a member of FINRA/NFA/SIPC and registered with the MSRB. SFI is registered with the U.S. Securities and Exchange Commission (“SEC”) as a Broker-Dealer and with the CFTC as a Futures Commission Merchant and Commodity Trading Adviser. References to securities trading are made on behalf of the BD Division of SFI and are intended only for an audience of institutional clients as defined by FINRA Rule 4512(c). References to exchange-traded futures and options are made on behalf of the FCM Division of SFI . StoneX is a trading name of StoneX Financial Ltd (“SFL”). SFL is registered in England and Wales, Company No. 5616586. SFL is authorized and regulated by the Financial Conduct Authority [FRN 446717] to provide to professional and eligible customers including: arrangement, execution and, where required, clearing derivative transactions in exchange traded futures and options. SFL is also authorised to engage in the arrangement and execution of transactions in certain OTC products, certain securities trading, precious metals trading and payment services to eligible customers. SFL is authorised & regulated by the Financial Conduct Authority under the Payment Services Regulations 2017 for the provision of payment services. SFL is a category 1 ring-dealing member of the London Metal Exchange. In addition SFL also engages in other physically delivered commodities business and other general business activities which are unregulated and not required to be authorised by the Financial Conduct Authority. StoneX Group Inc. acts as agent for SFL in New York with respect to its payments services business. StoneX APAC Pte. Ltd. acts as agent for SFL in Singapore with respect to its payments services business. ‘StoneX’ is the trade name used by StoneX Group Inc. and all its associated entities and subsidiaries.
Trading swaps and over-the-counter derivatives, exchange-traded derivatives and options and securities involves substantial risk and is not suitable for all investors. Past performance of any futures or option is not indicative of future success. Indicators are not a trading system and are not published as a specific trade recommendation. The information herein is not a recommendation to trade nor investment research or an offer to buy or sell any derivative or security. It does not take into account your particular investment objectives, financial situation or needs and does not create a binding obligation on any of the StoneX group of companies to enter into any transaction with you. You are advised to perform an independent investigation of any transaction to determine whether any transaction is suitable for you. No part of this material may be copied, photocopied or duplicated in any form by any means or redistributed without the prior written consent of StoneX Group Inc.
© 2024 StoneX Group Inc. All Rights Reserved.
Discover more insights
