Pershing Square Investor Presentation Deck
SBUX Share Price Performance Since Inception
SBUX's share price including dividends increased 80% from our average cost at
re-establishment of the position in March 2020 to December 31, 2020 and
decreased 1% year-to-date in 2021¹
SBUX share price performance from 7/13/2018 to 2/16/2021:
$110
$105
$100
$95
$90
$85
$80
$75
$70
$65
$60
$55
$50
Share price
7/25/19: SBUX reports fiscal Q3'19
earnings, marking a return to transaction
growth in both the U.S. and China
11/1/18: SBUX reports
fiscal Q4'18 earnings
with U.S. SSS growth of
4% after four quarters of
1% to 2% growth
Jul-2018
Mr.
1/31/20: Pershing Square completes
sale of initial investment in SBUX at
an average price per share of $86
Jan-2019
12/13/18: SBUX hosts
biennial investor day
10/9/18: Pershing Square announces
investment in SBUX
Jul-2019
Jan-2020
12/9/20: SBUX hosts
biennial investor day
and raises long-term
financial targets
2
что
ways
Jul-2020
3/12/20-3/23/20: Pershing Square re-
establishes a position in SBUX at an
average cost per share of $60
1/26/21: SBUX
reports fiscal
Q1'21 earnings
and announces
the departure of
COO Roz Brewer
$106
Jan-2021
$60*
Note: The performance of SBUX's share price is provided for illustrative purposes only and is not an indication of future returns of the Pershing Square funds.
*Average cost at announcement date of our re-established position in March 2020. Please see the additional disclaimers to performance results at the end of the presentation.
(1) As of 2/16/2021.
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