Comp Store Sales Rise 7% Globally, 8% in the Americas, and 11% in China/Asia Pacific; Global Traffic Up 4%
Global Revenues Rise 18%; GAAP Operating Income Up 22% to a Q3 Record $939 Million
GAAP EPS Jumps 21% to a Q3 Record $0.41; Non-GAAP EPS Jumps 24% to a Q3 Record $0.42
Company Increases Outlook for Fiscal 2015
SEATTLE, July 23, 2015 – Starbucks Corporation (NASDAQ: SBUX) today reported financial results for its 13-week fiscal third quarter and 39-week fiscal year to date ended June 28, 2015. Q3 FY15 GAAP results include Starbucks Japan acquisition-related items, which are excluded from the non-GAAP results. Please refer to the reconciliation of GAAP measures to non-GAAP measures at the end of this release.
Q3 Fiscal 2015 Highlights
• Global comparable store sales increased 7%, driven by a 4% increase in traffic
Americas comp sales increased 8%, driven by a 4% increase in traffic
China/Asia Pacific comp sales increased 11%, driven by a 10% increase in traffic
EMEA comp sales increased 3%, driven by a 2% increase in traffic
• Consolidated net revenues increased 18% over Q3 FY14 to a quarterly record $4.9 billion
• Consolidated operating income up 22% to $938.6 million
Non-GAAP operating income up 24% to $950.1 million
• Consolidated operating margin expanded 70 basis points to 19.2%
Non-GAAP operating margin increased 100 basis points to 19.5%
• GAAP earnings increased 21% over Q3 FY14 to $0.41 per share
Non-GAAP earnings increased 24% over Q3 FY14 to $0.42 per share
• Starbucks Mobile Order & Pay expanded to over 4,000 U.S. company-operated stores in Q3; full deployment to all U.S. company-operated stores by holiday
• 431 net new stores opened in the quarter; total store count reaches 22,519
• Year over year comparable store customer transactions increased nearly 18 million in the U.S. and over 23 million globally
“Starbucks Q3 fiscal 2015 stands as among the strongest and most remarkable quarters in our over 23 years as a public company,” said Howard Schultz, chairman and ceo. “The 4% increase in global transactions we reported equates to our having served an additional 23 million customer occasions in Q3 of this year over last year, clearly evidencing a continuation of the strong momentum we have seen across our business and around the world this fiscal year."
“Starbucks very strong year over year financial performance in Q3 demonstrates our commitment to delivering best in class financial and operating results while at the same time investing in our future growth - building new stores, renovating existing stores, deploying new technology - investing in our partners and delivering an elevated Starbucks Experience to our customers,” said Scott Maw, Starbucks cfo. “We believe that by getting this balance right, we will be able to continue delivering exceptional growth, profitability and increased returns to our shareholders."