Black Rock Coffee Bar

So joining me on a first on CNBC interview from the Nasdaq is the CEO Mark Davis Mark Welcome to the show and congratulations on the IPO Thank you for having me Morgan. I appreciate it. So let'start right there because the offering was over subscribed You priced higher than the initial IPO range and then you popped the stock popped when it began trading and closing about 37% higher than where we started here. Why go public now and what does it enable? So as you think about us going public I think we look at it as a way to not only introduce people to the culture of our teams The great guest service, but I think we also look at it as a way to reinforce the processes that we have and most importantly It helps with that discipline development growth that we're pushing towards. Yeah, same store sales grew almost 11% in the most recently closed quarter does that growth continue? So we are super fortunate to have just the very best baristas in the world And I think as we look at how they drive that experience We believe that is long-lasting and will be a great value story for years to come 158 locations across seven states you're expecting to open another 30 this year. I was reading you're targeting a thousand stores by 2035 what does that expansion plan look We're on the East Coast So we're gonna grow by 20% a year We're gonna do that because of our push on people we believe that it's a great way to help our teams not only Experience both their professional and personal growth will grow in concentric circles And as you think about our growth we'll start with the seven states in the West again Those are the states that we're in and you'll see us continue to grow both east and south and that'll happen in the medi How do you differentiate yourself? So again as you think about our story we have the ability to have every store having a drive-through We certainly lean into the order ahead in the third party But what I would come back to is those great baristas the experience They drive that connection and that obviously drives frequency of visit which in turn is really great for our brand What do you see in terms of the labor market and your ability to get those baristas and perhaps just as importantly? What do you seeing in cons So as you and you brought this up earlier as you think about our same-store sales that is reflected by growing transactions We feel that's the most responsible way to push growth and we've been really great with that I think secondarily when you think about our baristas the way that we lean into the ac Hmm coffee futures have j So our founders from again the beginning in 2008 have a medi What does it mean in terms of your ability to? grow the coffee chain and To continue to uphold and grow that culture So our founders are still involved. That's really central to who they are again Really solid partners for us and I think when you look at the culture We continue to realize that being differentiated by the experience driven by the baristas is so important And so you'll see us double down and all the ways that we can strategically Make sure that we keep them happy and retain them