Grants Pass-based coffee chain Dutch Bros is having a historic year.Its stock price (NYSE: BROS) is currently the highest it’s been in more than two years, with a 65% price increase year-to-date, and it has reported consecutive double-digit sales growth the last several quarters.As the brand grows down the West Coast and over to the East Coast, CEO Christine Barone said recently that Dutch Bros’ real estate strategy is partially why it’s seen so much success. Barone was referring to the brand’s recent announcement that it will spend up to $41 million on moving part of its operations from its Oregon headquarters to Arizona.”Just having kind of really easy access to our shops to support our teams and our operators and things like that, and then also having really easy access back and forth between the Medford airport and Phoenix, it’s one of those places where it’s really like a hub between Medford and the rest of the country and the rest of our shops,” Barone told the Business Journal earlier this year.Barone, an Arizona native, became Dutch Bros’ CEO last year after joining the brand as president just a few months prior. Before Dutch Bros, Barone was CEO at True Food Kitchen, a Phoenix-headquartered restaurant chain, for six years, and senior vice president with Starbucks (Nasdaq: SBUX) prior to that.Dutch Bros has been expanding rapidly for years and got added fuel when it hit the New York Stock Exchange in 2021. The company is on track to achieve its goal of having 4,000 locations over the next 10 to 15 years too, and it reached nearly 900 locations this summer.The performance has analysts raising their Dutch Bros guidance and estimates, especially as it relates to the brand’s main competition, Starbucks, which has seen sales drop this year amid dwindling relevance with younger consumers.In its most recent quarter, Dutch Bros reported $338.2 million in revenue, up nearly 28% from last year, and a net income of $21.7 million, up nearly 62% from last year.The company’s move to Arizona is expected to be complete by the end of t …
See the full article on this Arizona real estate event, or, read more Arizona real estate investing news. It’s up to you!