Starbucks announces record Q1 results
Starbucks Corporation (NASDAQ: SBUX) today reported financial results for its 13-week fiscal first quarter ended December 29, 2019.
Starbucks delivered a strong start to fiscal 2020, fueled by a healthy balance of comp sales growth and new store development, continued expansion of the Global Coffee Alliance and significant margin expansion.
Q1 Fiscal 2020 Highlights include:
- Global comparable store sales up 5%, driven by a 3% increase in average ticket and a 2% increase in comparable transactions.
- Americas comparable store sales up 6%, driven by a 3% increase in average ticket and a 2% increase in comparable transactions; U.S. comparable store sales up 6%, with comparable transactions up 3%
- International comparable store sales up 1%, driven by a 2% increase in average ticket and a 1% decrease in comparable transactions; China comparable store sales up 3%, with comparable transactions up 1%
- The company opened 539 net new stores in Q1, yielding 31,795 stores at the end of the quarter, a 6% increase over the prior year
- Consolidated net revenues of $7.1 billion grew 7% over the prior year
The Starbucks executive team will share more details on Q1 earning during a call at 2pm PT. You can listen here: Investor Relations.
For more details on full Q1 earnings, visit:
Following the global search for the new leader of Starbucks, Laxman Narasimhan joined the company as incoming ceo on October 1, 2022, bringing nearly 30 years of experience leading global consumer goods businesses and advising retail, grocery, restaurant and e-commerce companies.
Starbucks Corporation (Nasdaq: SBUX) today reported financial results for its 13-week fiscal first quarter ended January 1, 2023.
“As we execute on our Reinvention plan, we are building on our 51-year history of market leading innovation to position our business and our brand for the next chapter of growth,” said Schultz.