Q4 Consolidated Net Revenues Up 31% to a Record $8.1 Billion Q4 Comparable Store Sales Up 17% Globally; U.S. Up 22% with 11% Two-Year Growth Q4 GAAP EPS $1.49; Non-GAAP EPS of $1.00 Driven by Strong U.S. Performance Active Starbucks® Rewards Membership in the U.S. Approaches 25 million, Up 28% Year-Over-Year Company Commits to $20 Billion of Share Repurchases and Dividends Over Next Three Years Company Announces Historic Investments in its Partners (Employees), Bringing Average U.S. Retail Hourly Wage to Nearly $17/hr. by Summer 2022

core/paragraph

SEATTLE – Starbucks Corporation (NASDAQ: SBUX) today reported financial results for its 14-week fiscal fourth quarter ended October&nbsp;3, 2021.&nbsp; GAAP results in fiscal 2021 and fiscal 2020 include items that are excluded from non-GAAP results.&nbsp; Please refer to the reconciliation of GAAP measures to non-GAAP measures at the end of this release for more information.

“Our strong finish to fiscal 2021, including record performance in the fourth quarter, demonstrates the resilience of Starbucks and reinforces the value of the bold strategic moves we have taken over the past two years. Through it all, we have thoughtfully navigated a strong recovery with an eye towards our future, all guided by our Mission and Values,” said Kevin Johnson, president and ceo.&nbsp;

“Today we announce we will be doubling-down on our investments in our partners, the heartbeat of our company. We know that when we exceed the expectations of our people, they in turn exceed the expectations of our customers - which creates value for all of our stakeholders - our partners, our customers, our communities and our shareholders. We anticipate that our strong business momentum, increased operating efficiency and continued global store expansion will fund these unprecedented investments while delivering yet another year of significant growth,” concluded Johnson.

Fiscal 2021 Re-segmentation

In the fourth quarter of fiscal 2021, certain changes were made to the company's management team, and the operating segment reporting structure was realigned as a result. The company realigned the fully licensed Latin America and Caribbean markets from the Americas operating segment to the International operating segment. The Americas operating segment has been renamed the North America operating segment, comprised of company-operated and licensed stores in the U.S. and Canada. Fiscal 2020 segment information has been restated to conform with current period presentation.

There was no impact to consolidated net revenues, consolidated operating income or net earnings per share as a result of these changes.

PDF: <a href="https://stories.starbucks.com/uploads/2021/10/Starbucks-Q4-FY21-Earnings-Release-1.pdf">Detailed financial data</a>

Q4 Fiscal 2021 Highlights

core/list

Full Year Fiscal 2021 Highlights

Visit the&nbsp;<a rel="noreferrer noopener" href="https://investor.starbucks.com/ir-home/default.aspx" target="_blank">Investor Relations page&nbsp;</a>to access&nbsp;the&nbsp;<a href="https://78449.themediaframe.com/dataconf/productusers/sbux/mediaframe/46381/indexl.html" target="_blank" rel="noreferrer noopener">live audio webcast.</a>

core/separator

(1)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; For additional reconciliations of the extra week in fiscal 2021, please see the Supplemental Financial Data section of our Investor Relations website at http://investor.starbucks.com.

Partner in facial covering wearing a ball cap serves a customer in front of a colorful mural

Press Releases

Press Releases - Starbucks Stories

Stories to inspire and nurture the human spirit

Starbucks Stories

Starbucks Corporation

“Our strong finish to fiscal 2021, including record performance in the fourth quarter, demonstrates the resilience of Starbucks and reinforces the value of the bold strategic moves we have taken over the past two years," said Kevin Johnson.

Starbucks Reports Q4 and Full Year Fiscal 2021 Results

https://stories.starbucks.com/uploads/2019/01/Starbucks_Logo_Hi-res.jpg

https://stories.starbucks.com/press/press-releases/

twitter:card

twitter:image

twitter:title

https://stories.starbucks.com/uploads/2019/01/Photo_TBD-320x411_1-1.jpg

https://stories.starbucks.com/uploads/2021/10/SBX20211028-Q4Earnings-FeatureHorizontal.jpg

https://stories.starbucks.com/press/2021/starbucks-reports-q4-and-full-year-fiscal-2021-results/

twitter:description

https://stories.starbucks.com/uploads/2021/10/SBX20211028-Q4Earnings-FeatureHorizontal-1024x498.jpg

Starbucks Coffee Company (NASDAQ: SBUX) today announced a wave of investments for its partners (employees), building on its 50-year history and tradition of listening and learning, while investing its success back into its people. Announcements of both operational and wage investments for U.S. partners and company-operated stores are designed to retain and recruit the best people and affirm Starbucks as one of the very best jobs in retail – a reflection of the company’s unwavering belief that success is best when it’s shared.

“As Starbucks celebrates our 50th anniversary we are reminded that our heritage is based on the simple concept that our green apron partners are the heartbeat of Starbucks and that success is best when it’s shared,” said Kevin Johnson, Starbucks president and chief executive officer. “Today, we are announcing another historic investment in our partners, knowing that when we take care of our partners, they take care of our customers, and all stakeholders benefit. This is how we continue to build a great and enduring company. One that is committed to the ideal that doing good for one another – and for society – is good for business over the long-term.”

In a letter to all U.S. partners, Rossann Williams, Starbucks executive vice president, president North America, emphasized the company’s continued commitment to listen, learn together, and deliver real, measurable value to partners, customers and shareholders. The investments the company will be making will enhance wage, training and in-store experiences, nationwide.

“Our&nbsp;founder&nbsp;Howard Schultz&nbsp;believed in&nbsp;the&nbsp;dignity of the&nbsp;human experience,&nbsp;in&nbsp;building a successful company,&nbsp;and&nbsp;that our success should always be shared,” said Williams. “These new investments show the continued commitment we all have to creating the best opportunities and experience for our partners.”

With innovative benefits for part-time employees, including health care, equity ownership for all levels in the organization, free college tuition through the Starbucks College Achievement Plan with Arizona State University and Mental Health support through a partnership with Lyra, Starbucks has been on the forefront of investing in its people since the opening of the original store in the Pike Place Market in Seattle in 1971. The introduction of these latest investments builds on unprecedented partner investments uniquely designed to <a href="https://stories.starbucks.com/press/2020/what-customers-need-to-know-about-starbucks-response-to-covid-19/">support partners during</a> the COVID-19 pandemic.

Forward-Looking Statements&nbsp;

Certain statements contained herein and in our investor conference call related to these results are “forward-looking” statements within the meaning of the applicable securities laws and regulations.&nbsp; Generally, these statements can be identified by the use of words such as “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “forecast,” “intend,” “may,” “outlook,” “plan,” “potential,” “predict,” “project,” “remain,” “should,” “will,” “would,” and similar expressions intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words.&nbsp; These statements include statements relating to: our accelerated labor investments; our business outlook, projections and guidance; operations and financial results; our sustainability goals and initiatives; the recovery of our business; and our ability to drive long-term growth. These forward-looking statements do not represent historical data, are based on currently available operating, financial and competitive information and are subject to a number of significant risks and uncertainties.&nbsp; Actual future results and trends may differ materially depending on a variety of factors, including, but not limited to: the actual impact of our accelerated labor investments on our operations and financial results; further spread of COVID-19 and its variants; regulatory measures or voluntary actions that may be put in place to limit the spread of COVID-19, including vaccine mandates and restrictions on business operations or social distancing requirements and the duration and efficacy of such restrictions and the world-wide distribution and acceptance of vaccines; the potential for a resurgence of COVID-19 infections in a given geographic region after it has hit its “peak”; fluctuations in U.S. and international economies and currencies; our ability to preserve, grow and leverage our brands; the ability of our business partners and third-party providers to fulfill their responsibilities and commitments; potential negative effects of incidents involving food or beverage-borne illnesses, tampering, adulteration, contamination or mislabeling; potential negative effects of material breaches of our information technology systems to the extent we experience a material breach; material failures of our information technology systems; costs associated with, and the successful execution of, the company’s initiatives and plans, including the successful expansion of our Global Coffee Alliance with Nestlé; our ability to obtain financing on acceptable terms; the acceptance of the company’s products by our customers, evolving consumer preferences and tastes and the availability of consumer financing; changes in the availability and cost of labor; significant increased logistic costs, including but not limited to inflationary pressures; the impact of competition; inherent risks of operating a global business; the prices and availability of coffee, dairy and other raw materials; the effect of legal proceedings; and the effects of changes in tax laws and related guidance and regulations that may be implemented and other risks detailed in the company filings with the Securities and Exchange Commission, including the “Risk Factors” sections of Starbucks Annual Report on Form 10-K for the fiscal year ended September 27, 2020 and Quarterly Report on Form 10-Q for the fiscal quarter ended June 27, 2021.&nbsp; The company assumes no obligation to update any of these forward-looking statements.

Starbucks Makes Historic Investments in its Partners, Building on Long-Time Belief that Success is Best When Shared - Starbucks Stories

Starbucks Makes Historic Investments in its Partners, Building on Long-Time Belief that Success is Best When Shared

Starbucks today announced a wave of investments for its partners, building on its 50-year history and tradition of listening and learning, while investing its success back into its people.

https://stories.starbucks.com/uploads/2021/10/SBX20211026-Partner-Experience-FeatureHorizontal-1.jpg

Starbucks Makes Historic Investments in its Partners (Employees)

https://stories.starbucks.com/press/2021/starbucks-makes-historic-investments-in-its-partners/

https://stories.starbucks.com/uploads/2021/10/SBX20211026-Partner-Experience-FeatureHorizontal-1-1024x498.jpg

Company elevates ‘home grown talent’ to top ranks, including promotion of Molly Liu to chief operating officer

Starbucks strengthens commitment to China as Belinda Wong, chairman of Starbucks China, focuses on long-term growth strategy, innovation and social impact in the market

SHANGHAI – Starbucks Coffee Company (NASDAQ: SBUX) today announced the promotion of Leo Tsoi to chief executive officer of Starbucks China. Serving as Starbucks China’s chief operating officer and president of Starbucks Retail for the last five years, Tsoi has led efforts to grow Starbucks footprint across the Chinese mainland to 5,200 stores across more than 200 cities today. He has engineered the development of a robust and diversified store portfolio by pioneering new store concepts, which have influenced new coffee-inspired lifestyles and further elevated third place experiences for Starbucks customers in China.

As one of the leading architects behind Starbucks China’s phenomenal growth since he rejoined the company in 2012, Tsoi previously served in various leadership positions, including vice president of North China region, chief marketing officer, and vice president of Store Development and Design, making many important contributions to strengthening Starbucks coffee leadership and elevating the Starbucks Experience.

“Leo has relentlessly pushed the envelope on innovation in China where customer loyalty and love for the Starbucks brand is unmatched,” said Kevin Johnson, president and ceo, Starbucks Coffee Company. “Our strong growth in China is a testimony to our deep bench of talented leaders and their relentless pursuit of further elevating the Starbucks Experience for our customers. I have great confidence in Leo’s ability to continue building the relationships we have with our Chinese customers through our rapidly growing store footprint, market-leading digital ecosystem and customer engagement, and robust innovation pipeline.”

With Tsoi’s promotion, Molly Liu is being elevated to chief operating officer of Starbucks China. Liu is a nine-year partner (employee) responsible for leading the development of Starbucks China’s Digital Ventures business, a leading growth engine for the company. As vice president and general manager of Digital Ventures, Liu has set the foundation for Starbucks China digital flywheel through pursuing relentless innovation and building landmark digital partnerships. Under her leadership, the Digital Ventures team has continuously up-leveled the Starbucks Rewards program while launching innovative and unique digital experiences including Starbucks Delivers (MOD), Starbucks Now (MOP), and Delivery Social Gifting, among others.

With these promotions, Belinda Wong will continue to serve as chairman of Starbucks China, focusing her attention toward delivering a holistic, long term strategy for Starbucks in the market, driving innovation through Starbucks Siren Ventures in China and other partnership opportunities, as well as elevating social impact in local communities through the Beijing Starbucks Foundation.

“Starbucks success in China today would not have been possible without Belinda’s visionary leadership over the past decade, leading the company to achieve unprecedented growth and transformation with her courage, steely determination, and deep passion for Starbucks and our partners,” said Johnson. “I look forward to continue working with Belinda as she focuses on long term strategy, innovation and leading engagement with key public and private sector stakeholders to unlock transformative opportunities for our business in this critical market.”

These appointments are effective October 1, 2021.

Tsoi has served as Starbucks China’s chief operating officer and president of Starbucks Retail for the last five years, engineering the development of a robust and diversified store portfolio in China.

Starbucks Promotes Leo Tsoi to ceo of Starbucks China

https://stories.starbucks.com/uploads/2020/03/SBX2020305-China-News-Feature.jpg

https://stories.starbucks.com/press/2021/starbucks-promotes-leo-tsoi-to-ceo-of-starbucks-china/

https://stories.starbucks.com/uploads/2020/03/SBX2020305-China-News-Feature-1024x498.jpg

The company will collaborate with local coffee producers, suppliers and agencies to create positive impact for farmers

Starbucks Coffee Company today announced the opening of its first Farmer Support Center in Brazil, and tenth globally. Located in Varginha, Minas Gerais state, the new Farmer Support Center extends Starbucks presence in a key coffee producing region and aims to provide valuable resources to local coffee communities as part of the company’s commitment to source coffee responsibly, for the betterment of people and the planet.

As Starbucks continues to work to improve the livelihoods of coffee farmers, the Farmer Support Center will enable Starbucks to work alongside local producers, suppliers and agencies to learn more about the unique environmental and social challenges facing the region, gain greater knowledge of advanced growing techniques, and collaborate on long-term solutions to best support farmers.

core/image

“At Starbucks, coffee is core to who we are and what we do,” said Alfredo Nuno, director Global Farmer Support Centers and Hacienda Alsacia at Starbucks. “The opening of the Starbucks Brazil Farmer Support Center represents an important milestone in Starbucks continued investments in coffee growing communities. As we aspire to ensure a sustainable future of coffee for all, we believe the knowledge we gather through the relationships built by this Farmer Support Center will play a significant role in our efforts to elevate the coffee-growing supply chain in Brazil and around the world.”&nbsp;

To promote transparent, profitable and sustainable coffee growing practices, Starbucks Sustainability Coordinators working at the Farmer Support Center will implement projects, workshops and trainings relevant to the unique needs of the coffee growers, such as safety best-practices and complex labor and environmental regulations. The Farmer Support Center also aims to provide on-the-ground trainings for C.A.F.E. Practices, the company’s ethical sourcing verification program, that measures farms against economic, social and environmental criteria.

“Starbucks physical presence through the new Brazil Farmer Support Center will enable more direct, timely and in the field conversations with the many farmers in our cooperative," said Lucio Dias, Director of Guaxupé Coffee Farmers’ Cooperative. “We are looking forward to strengthening our relationship with Starbucks and working together to advance our mutual goal of producing high-quality coffee that adheres to both C.A.F.E. Practices and local rules and regulations in a sustainable way.”

Building on the proven success of Starbucks nine other Farmer Support Centers located in coffee-producing countries around the world, including a total of five in Latin America, the company leverages its Farmer Support Centers to provide&nbsp;open-source agronomy&nbsp;and&nbsp;trainings on&nbsp;ethical sourcing practices&nbsp;to farmers, regardless of whether or not they sell to Starbucks. Globally, since the opening of Starbucks first Farmer Support Center in 2004 in Costa Rica, the company has trained more than 200,000 farmers through the program.

About Starbucks

Since 1971, Starbucks Coffee Company has been committed to ethically sourcing and roasting high-quality arabica coffee. Today, with more than 33,000 stores worldwide, the company is the premier roaster and retailer of specialty coffee in the world. Through our unwavering commitment to excellence and our guiding principles, we bring the unique Starbucks Experience to life for every customer through every cup. To share in the experience, please visit us in our stores or online at <a href="http://news.starbucks.com">news.starbucks.com</a> or <a href="http://www.starbucks.com/">www.starbucks.com</a>.

Territorial view of coffee farm in Brazil with sun setting behind mountains in distance

Starbucks aims to provide valuable resources to local coffee communities as part of the company’s commitment to source coffee responsibly.

Starbucks Opens Farmer Support Center in Brazil for Coffee Growing

https://stories.starbucks.com/uploads/2021/08/SBX20210811-Brazil-Farmer-Support-Center-FeatureHorizontal.jpg

https://stories.starbucks.com/press/2021/starbucks-opens-farmer-support-center-in-brazil-for-coffee-growing/

https://stories.starbucks.com/uploads/2021/08/SBX20210811-Brazil-Farmer-Support-Center-FeatureHorizontal-1024x498.jpg

Starbucks and Caribbean Coffee Traders Limited (CCTL) to open first Starbucks store located in Haggatt Hall

Starbucks Coffee Company, in partnership with Caribbean Coffee Traders Limited (CCTL), today, announced the arrival of the first Starbucks in Barbados. The new café, located at Haggatt Hall St. Michael, will welcome local customers beginning July 30. Customers will enjoy the iconic Starbucks coffeehouse experience alongside Starbucks signature handcrafted beverages prepared by passionate baristas, and locally-sourced menu options including sandwiches, wraps and juices.

“We are honored to have the opportunity to bring the unparalleled Starbucks Experience to customers in Barbados, our 10th market in the Caribbean, in partnership with Caribbean Coffee Traders Limited,” said Ricardo Rico, general manager, Starbucks Latin America and the Caribbean. “We are confident that, together, we will provide value to our customers in a way that celebrates local culture and coffee traditions, while creating a positive economic impact in the communities of Barbados.”

CCTL, a consortium led by Margaritaville Caribbean Group and Adam Stewart in his private capacity, through its sub-licensee Caribbean Coffee Baristas (Barbados) Ltd., will be the operating licensee of Starbucks® retail stores in Barbados, leveraging more than 25 years of retail and hospitality experience within the Caribbean region. Barbados is the fifth market where CCTL operates Starbucks retail stores, in addition to locations in Jamaica, Turks and Caicos, the Cayman Islands and Panama. Together, CCTL and Starbucks plan to open more stores in the coming years, with a shared commitment towards creating opportunities and delivering a unique customer experience.

“We are thrilled to introduce the Starbucks brand on the beautiful island of Barbados,” shared Ian Dear, Founding Partner of CCTL and CEO of Margaritaville Caribbean Group. “This opening allows us to continue with our solid growth in the region and will build on our long-term relationship with Starbucks while we continue elevating the coffee passion across the Caribbean,” he finalized.

“The expansion of the Starbucks brand into more Caribbean markets is an important milestone for our region. Not only does Starbucks bring the opportunity of employment and boosting of the local economy through the use of locally-made products in our stores, but Starbucks and CCTL also pride themselves on their commitment to the communities in which they serve, offering a safe and comfortable place for our customers to enjoy and connect with one another,” added Adam Stewart, Founding Partner of CCTL and Executive Chairman of Sandals Resorts International.

Designing a unique store experience for customers in Barbados

core/heading

In addition to ample indoor and outdoor seating, Starbucks first store in Barbados features a unique design and convenient pick-up window for customers on the go. Plans to offer customers a convenient way to place and pay for their order online, in advance of their visit, and pick it up at their earliest convenience at the store’s designated pick-up window are also underway. Inside the store, customers will find a mural created by local artist, Sandy Layne, that depicts the tropical foliage of Barbados. The balance between the textured three-dimensional artwork and the coffee theater throughout the store creates a warm and welcoming atmosphere.

Starbucks has a long-standing history of investing in the communities it serves around the world. As part of its arrival to the country, The Starbucks Foundation is exploring partnership opportunities with Caribbean Coffee Baristas (Barbados) Ltd. and the Barbados Youth Development Council, with the aim of supporting a series of initiatives connecting youth in Barbados with the support and access they need to succeed.

Since first arriving in the Latin America and the Caribbean region in 2002, Starbucks and its licensed partners have been committed to elevating the coffeehouse experience by delivering to its customers the finest arabica coffee sourced from around the world, warm and welcoming customer service and premium signature handcrafted beverages. With the opening of Barbados, Starbucks will operate more than 70 stores across 10 markets in the Caribbean region, including Aruba, Bahamas, Curacao, Cayman Islands, Jamaica, Puerto Rico, Trinidad &amp; Tobago, Turks &amp; Caicos and Dominican Republic, where best-in-class local business operators employ nearly 1,000 partners (employees). Barbados marks Starbucks 22nd market across Latin America and the Caribbean region with the brand having presence in 84 markets globally.

Since 1971, Starbucks Coffee Company has been committed to ethically sourcing and roasting high-quality arabica coffee. Today, with over 33,000 stores worldwide, the company is the premier roaster and retailer of specialty coffee in the world. Through our unwavering commitment to excellence and our guiding principles, we bring the unique Starbucks Experience to life for every customer through every cup. To share in the experience, please visit us in our stores or online at <a href="http://stories.starbucks.com/">news.starbucks.com</a> or <a href="http://www.starbucks.com/">www.starbucks.com</a>.

About Caribbean Coffee Traders Limited

Caribbean Coffee Traders Limited (CCTL) is a consortium led by restaurant management and franchise operator of Margaritaville Caribbean Group Ian Dear and Executive Chairman of Sandals Resorts Adam Stewart in his private capacity. Since 2017, CCTL holds the exclusive rights to operate Starbucks stores in Jamaica, since 2019 in the Cayman Islands and Turks and Caicos Islands, since 2020 in Panama, and since 2021 in Barbados. Through its commitment to maintaining operational standards, providing extraordinary customer experience, and serving the community, the brand continues to expand and integrate in communities across the Caribbean region.

Today with a total of 23 stores opened, CCTL continues to fulfill its commitment to open more stores across the markets in&nbsp;which they manage, offering customers the highest quality coffee and an unmatched Starbucks experience.

Exterior of store at night, showing terrace with chairs in front of lighted window with Starbucks Coffee lighted signage

Starbucks and Caribbean Coffee Traders Limited (CCTL) announce the opening of the first Starbucks store, located in Haggatt Hall.

Starbucks to Unveil First Store in Barbados

https://stories.starbucks.com/uploads/2021/07/SBX20210728-Barbados-FeatureHorizontal.jpg

https://stories.starbucks.com/press/2021/starbucks-to-unveil-first-store-in-barbados/

https://stories.starbucks.com/uploads/2021/07/SBX20210728-Barbados-FeatureHorizontal-1024x498.jpg

Q3 Consolidated Net Revenues Up 78% to a Record $7.5 Billion

Q3 Comparable Store Sales Up 73% Globally; U.S. Up 83% with 10% Two-Year Growth

Q3 GAAP EPS $0.97; Record Non-GAAP EPS of $1.01 Driven by Strong U.S. Performance

China Surpasses 5,000 Stores, Pushing Global Store Count to Record 33,295

Active Starbucks® Rewards Membership in the U.S. Up 48% Year-Over-Year to 24.2 Million

Raising Full-Year Fiscal 2021 Margin and Earnings Per Share Guidance

SEATTLE –&nbsp; Starbucks Corporation (NASDAQ: SBUX) today reported financial results for its 13-week fiscal third quarter ended June&nbsp;27, 2021.&nbsp; GAAP results in fiscal 2021 and fiscal 2020 include items that are excluded from non-GAAP results.&nbsp; Please refer to the reconciliation of GAAP measures to non-GAAP measures at the end of this release for more information.

“Starbucks delivered record performance in the third quarter, demonstrating powerful momentum beyond recovery. Our ability to move with speed and agility and to be out in front of shifting customer behaviors has helped further differentiate Starbucks, positioning us well for this moment,” said Kevin Johnson, president and ceo.&nbsp;

“As the Great Human Reconnection continues to unfold, our partners are rising to the occasion, ready to meet our customers wherever they need us to be – with the right store, in the right place, at the right time. Given the strength of our diverse portfolio and the elevated Starbucks Experience, as evidenced in our Q3 record results, we are raising our full-year financial outlook and are confident in our ability to continue to execute our ‘Growth at Scale’ agenda to unlock the full potential of the Starbucks brand,” concluded Johnson.

PDF:&nbsp;<a href="https://stories.starbucks.com/uploads/2021/07/Starbucks-Q3-FY21-Earnings-Release.pdf" target="_blank" rel="noreferrer noopener">Detailed financial data</a>

Q3 Fiscal 2021 Highlights

Visit the <a rel="noreferrer noopener" href="https://investor.starbucks.com/ir-home/default.aspx" target="_blank">Investor Relations page </a>to access <a href="https://78449.themediaframe.com/dataconf/productusers/sbux/mediaframe/38938/indexl.html" target="_blank" rel="noreferrer noopener">the live audio webcast</a>.

Starbucks barista in black headscarf smiles and pours steamed milk

"Our ability to move with speed and agility and to be out in front of shifting customer behaviors has helped further differentiate Starbucks, positioning us well for this moment,” said Kevin Johnson, president and ceo.

Starbucks Reports Q3 Fiscal 2021 Results

https://stories.starbucks.com/uploads/2021/07/SBX20210726-EarningsQ3FY21-FeatureHorizontal.jpg

https://stories.starbucks.com/press/2021/starbucks-reports-q3-fiscal-2021-results/

https://stories.starbucks.com/uploads/2021/07/SBX20210726-EarningsQ3FY21-FeatureHorizontal-1024x498.jpg

Founding partner E-Mart will continue operations and growth of Starbucks Coffee Korea.

SEATTLE – Starbucks Coffee Company (NASDAQ:SBUX) today announced it has agreed to sell its 50% ownership share of Starbucks Coffee Korea Co., Ltd. Joint venture partner E-Mart Inc. (Shinsegae Group) ("E-Mart ") will acquire an additional 17.5% interest in Starbucks Coffee Korea Co., Ltd., giving E-Mart 67.5% ownership of Starbucks operations in South Korea.

E-Mart has been Starbucks joint venture partner in South Korea since 1999, when the brand opened its first store near Ewha Womans University in Seoul. Since then, E-Mart has been a valuable strategic business partner throughout the market and has demonstrated their ability to elevate the Starbucks Experience across South Korea, with more than 1,500 stores across 78 cities, operated by more than 18,000 green apron partners (employees).

In addition, Starbucks Coffee Company has agreed to sell its remaining ownership share of Starbucks Coffee Korea Co., Ltd. to an affiliate of GIC Private Limited, (“GIC”), Singapore’s sovereign wealth fund. This will give GIC a 32.5% ownership stake in Starbucks Coffee Korea Co., Ltd.

“As Starbucks fifth largest market, South Korea continues to be an important market for Starbucks,” said Michael Conway, group president, International and Channel Development. “Part of our success in South Korea - and in many of our International markets - is due to our expertise and judgment in knowing when to rely on local partners to continue to build the business. E-Mart and GIC share Starbucks values and commitment to a positive experience for partners and have been recognized for their commitment to community stewardship. Starbucks is confident in E-Mart and GIC’s ability to continue to elevate the Starbucks Experience for customers and identify unique opportunities to reach more customers throughout this important market.”

“Starbucks and E-Mart have had many conversations on how we can continue to grow the Starbucks brand in the market, which led to this decision,” said T.J. Hyung, Executive Vice President of E-Mart. “This transaction is the result of the strong performance and partnership we have achieved together over the past 20 years. E-Mart will continue to enhance the customer experience and social value that Starbucks has been creating, with a new partner GIC as well as Starbucks."

“Starbucks Coffee Korea is a leading branded coffee chain with consistent and strong growth prospects due to its high brand awareness and continuous innovation,” said Choo Yong Cheen, GIC’s chief investment officer of private equity. “As a long-term investor, GIC is confident that Starbucks Coffee Korea will play an important role in setting retail coffee trends and further driving industry growth in South Korea. We are pleased to partner with E-Mart, an experienced and capable operator in the consumer retail space, to support the next chapter of this successful brand.”

As with all of Starbucks licensed markets, the company will continue to maintain a strong relationship with Starbucks Coffee Korea, leveraging Starbucks key global success drivers to enhance the local Starbucks Experience for customers and partners in Korea.

The completion of the business transition is expected over the next 90 days. Because E-Mart will remain the operator of Starbucks Coffee Korea, the rhythm of the business will remain uninterrupted with no impact to partners or customers.

Since 1971, Starbucks Coffee Company has been committed to ethically sourcing and roasting high quality arabica coffee. Today, with stores around the globe, the company is the premier roaster and retailer of specialty coffee in the world. Through our unwavering commitment to excellence and our guiding principles, we bring the unique Starbucks Experience to life for every customer through every cup. To share in the experience please visit us in our stores, online at Starbucks.com and through Starbucks Stories and News.

Founded in 1993, E-Mart is the largest retailer in Korea, operating a nationwide network of over 160 hypermarkets, discount stores, and other specialty stores. E-mart was spun out from Shinsegae, one of Korea’s oldest retailers, in 2011.

GIC is a leading global investment firm established in 1981 to secure Singapore’s financial future. As the manager of Singapore’s foreign reserves, we take a long-term, disciplined approach to investing, and are uniquely positioned across a wide range of asset classes and active strategies globally. These include equities, fixed income, real estate, private equity, venture capital, and infrastructure. Our long-term approach, multi-asset capabilities, and global connectivity enable us to be a partner of choice, by adding meaningful value to our partnerships and investments through the sharing of our networks and business expertise. Headquartered in Singapore, we have a global talent force of over 1,800 people in 10 key financial cities and have investments in over 40 countries.

For more information, please visit gic.com.sg or follow us on <a href="https://www.linkedin.com/company/163988/admin/">LinkedIn</a>.

Forward‐Looking Statements

Certain statements contained in this press release are “forward-looking” statements within the meaning of the applicable securities laws and regulations. Generally, these statements can be identified by the use of words such as “believe,” “continue,” “could,” “expect,” “may,” “predict,” “remain,” “should,” “will,” “would,” and similar expressions intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. These statements include statements relating to the expected closing of the business transaction and the future growth of the South Korea market. These forward-looking statements do not represent historical data, are based on currently available operating, financial and competitive information and are subject to a number of significant risks and uncertainties. Actual future results and trends may differ materially depending on a variety of factors, including the risks detailed in the company filings with the Securities and Exchange Commission, including the “Risk Factors” sections of Starbucks Annual Report on Form 10-K for the fiscal year ended September 27, 2020. The company assumes no obligation to update any of these forward-looking statements.

Founding partner E-Mart will continue operations and growth of Starbucks Coffee Korea.

Starbucks Transitions Retail Business in South Korea to E-Mart and GIC

https://stories.starbucks.com/uploads/2021/07/SBX20210723-SouthKorea-FeatureHorizontal.jpg

https://stories.starbucks.com/press/2021/starbucks-transitions-retail-business-in-south-korea-to-e-mart-and-gic/

https://stories.starbucks.com/uploads/2021/07/SBX20210723-SouthKorea-FeatureHorizontal-1024x498.jpg

The two companies plan to offer popular Starbucks Ready-to-Drink coffee beverages to reach consumers across the regions

Seattle – Starbucks Corporation (NASDAQ: SBUX) and Nestlé today announced a new collaboration to bring Starbucks Ready-to-Drink (RTD) coffee beverages to select markets across Southeast Asia, Oceania and Latin America. The companies will work to quickly bring these coffee beverages to consumers as of 2022.

“We continue to strengthen our partnerships to extend the reach of the Starbucks brand globally. With its historical local footprint and exceptional execution capabilities, Nestlé is an ideal partner to help us develop and offer tailored Starbucks coffee beverages in these regions,” said Michael Conway, group president International and Channel Development, Starbucks. “Our partnership has proven highly successful for both companies, and we are confident that this new collaboration will help us meet our customers’ evolving needs.”

“Our partnership with Starbucks has confirmed Nestlé’s leading position in the global coffee business,” said David Rennie, Head of Nestlé Coffee Brands. The 2020 sales of Starbucks products reached CHF 2.7 billion, a double-digit organic growth compared to 2019. “With our expansion plans into RTD coffee, Nestlé will continue to build on its global leadership in coffee and will benefit from new growth opportunities in a segment that is developing rapidly and attracting new and younger consumers.”

Nestlé and Starbucks will initially focus on the most popular RTD products, such as Starbucks® Frappuccino® and Starbucks Doubleshot®, and will continue to develop a strong innovation pipeline. The products will be rolled out across a variety of channels, including online platforms. Starbucks RTD coffee products are made with 100% of the finest arabica beans sourced from the world’s premier coffee growing regions.

The new collaboration builds on a successful three-year partnership through the global coffee alliance, which expanded the reach of Starbucks branded coffee and tea products across 79 markets outside Starbucks retail stores.

Since forming the global coffee alliance in 2018, Nestlé and Starbucks have brought to market a wide range of premium products at a fast pace – including whole bean, roast and ground as well as Starbucks capsules for Nespresso and Nescafé Dolce Gusto proprietary technologies. Nestlé and Starbucks will continue to work together closely to develop new, innovative products and go-to-market strategies that will amplify the reach and expand the unique experience of the Starbucks brand globally.

Since 1971, Starbucks Coffee Company has been committed to ethically sourcing and roasting high-quality arabica coffee. Today, with nearly 33,000 stores worldwide, the company is the premier roaster and retailer of specialty coffee in the world. Through our unwavering commitment to excellence and our guiding principles, we bring the unique Starbucks Experience to life for every customer through every cup. To share in the experience, please visit us in our stores or online at <a href="https://stories.starbucks.com/">https://stories.starbucks.com/</a> or <a href="http://www.starbucks.com">www.starbucks.com</a>.

About Nestlé

Nestlé is the world’s largest food and beverage company. It is present in&nbsp;186&nbsp;countries around the world, and its&nbsp;273,000&nbsp;employees are committed to Nestlé’s purpose of&nbsp;unlocking the power of food to enhance quality of life for everyone, today and for generations to come. Nestlé offers a wide portfolio of products and services for people and their pets throughout their lives. Its more than 2,000 brands range from global icons like&nbsp;Nescafé&nbsp;or&nbsp;Nespresso to local favorites like&nbsp;Ninho*. Company performance is driven by its Nutrition, Health and Wellness strategy. Nestlé is based in the Swiss town of Vevey where it was founded more than 150 years ago.&nbsp;

Forward-Looking Statements Certain statements contained in this press release are “forward-looking” statements within the meaning of the applicable securities laws and regulations. Generally, these statements can be identified by the use of words such as “believe,” “continue,” “could,” “expect,” “may,” “predict,” “remain,” “should,” “will,” “would,” and similar expressions intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. These statements include statements relating to the expected timing and nature of future product offerings and the potential growth of the RTD business. These forward-looking statements do not represent historical data, are based on currently available operating, financial and competitive information and are subject to a number of significant risks and uncertainties. Actual future results and trends may differ materially depending on a variety of factors, including the risks detailed in the company filings with the Securities and Exchange Commission, including the “Risk Factors” sections of Starbucks Annual Report on Form&nbsp;10-K&nbsp;for the fiscal year ended September&nbsp;27, 2020. The company assumes no obligation to update any of these forward-looking statements.

The two companies plan to offer popular Starbucks Ready-to-Drink coffee beverages to reach consumers across the regions.

Starbucks and Nestlé to Bring Ready-to-Drink Coffee Beverages to Southeast Asia, Oceania and Latin America

https://stories.starbucks.com/uploads/2019/09/Social-Board-Logo.jpg

https://stories.starbucks.com/press/2021/starbucks-and-nestle-to-bring-ready-to-drink-coffee-beverages-to-southeast-asia-oceania-and-latin-america/

https://stories.starbucks.com/uploads/2019/09/Social-Board-Logo-1024x613.jpg

Starbucks Coffee Company in partnership with Caribbean Coffee Traders Limited (CCTL), today, announced it will open its first location in Barbados this year, bringing its unique Starbucks Experience to local customers for the first time.

Located in Haggatt Hall St. Michael, the new location will provide local customers high-quality arabica coffee from around the world through Starbucks handcrafted beverages prepared by passionate Starbucks barista partners (employees).

Through this opening, CCTL looks forward to celebrating local culture and coffee traditions, and also creating a positive economic impact in communities of Barbados. The new store will employ approximately 15 partners (employees), sourced in partnership with local entities to provide locals with an opportunity to develop a career path.

Barbados will become Starbucks 10th market in the Caribbean, where it already delivers innovative and locally-relevant retail initiatives to customers in Aruba, Curacao, Bahamas, Cayman, Jamaica, Puerto Rico, Trinidad and Tobago, Turks and Caicos, and most-recently, the Dominican Republic.

With over 25 years of experience in retail and hospitality in the region, including operating the Starbucks retail stores in Jamaica, Cayman, Turks and Caicos, and Panama, CCTL will have the exclusive rights as the local operating licensee of the Starbucks stores in Barbados.

Hands of person wearing green apron holding a latte in large mug and saucer

Barbados will become Starbucks 10th market in the Caribbean, where it already delivers innovative and locally-relevant retail initiatives to customers.

Starbucks to Bring Iconic Coffeehouse Experience to Barbados

https://stories.starbucks.com/uploads/2020/01/SBX2020-Customizing-Beverages-Featured-Image.jpg

https://stories.starbucks.com/press/2021/starbucks-to-bring-iconic-coffeehouse-experience-to-barbados/

https://stories.starbucks.com/uploads/2020/01/SBX2020-Customizing-Beverages-Featured-Image-1024x498.jpg

John Culver promoted to group president, North America and chief operating officer; Michael Conway to group president, International and Channel Development; and Michelle Burns to executive vice president, Global Coffee, Tea and Cocoa

SEATTLE – Starbucks Corporation (NASDAQ: SBUX) today announced several leadership appointments to advance the company's strategic business goals and position Starbucks on a clear growth path for the future. The company announced the promotions of John Culver as group president, North America and chief operating officer, Michael Conway to group president, International and Channel Development, and Michelle Burns to executive vice president, Global Coffee, Tea and Cocoa. These changes are effective as of June 28, 2021.

“As we plan for the 2022 fiscal year and beyond, Starbucks is fortunate to have a deep, talented and diverse team of senior executives we are able to tap to help lead us forward,” said Kevin Johnson, president and chief executive officer. “These appointments support our Growth at Scale agenda to bring about predictable, sustainable growth for the long-term, as well as our commitments to being a People Positive and Planet Positive company. I want to congratulate John, Michael and Michelle on their promotions and look forward to continuing to work with them closely.”

John Culver joined Starbucks in 2002 and has been at the forefront of the growth and expansion for the company across multiple geographies and cultures, leading Starbucks International for the last 15 years. Under his leadership, Starbucks International’s presence has grown to encompass more than 15,000 retail stores and more than 800,000 points of presence through channels outside our stores.

Michael Conway joined Starbucks in 2013 to lead Channel Development and, since that time, has gone on to lead Starbucks U.S. Licensed Stores and Canada businesses. In his expanded role as group president, International and Channel Development, he will oversee the retail business segment that includes all international markets outside of the U.S. and Canada. He’ll also lead Starbucks global Channel Development business segment including the Global Coffee Alliance with Nestlé.

Michelle Burns leads Starbucks Global Coffee, Tea and Cocoa with more than 26 years of experience at Starbucks. Her promotion to executive vice president reflects the importance of coffee as core to Starbucks business and recognizes the critical role coffee plays in the intersectionality of Starbucks Planet and People Positive goals within the coffee supply chain, on behalf of our farmers.

The company announced the promotions of John Culver, Michael Conway, and Michelle Burns to advance the company's strategic business goals.

Starbucks Announces Leadership Promotions to Drive Continued Purpose-Driven Growth

https://stories.starbucks.com/uploads/2021/06/SBX20210615-SbuxLogo-FeatureHorizontal.jpg

https://stories.starbucks.com/press/2021/starbucks-announces-leadership-promotions-to-drive-continued-purpose-driven-growth/

The company announced the promotions of John Culver as group president and coo, Michael Conway to group president, International and Channel Development, and Michelle Burns to evp, Global Coffee, Tea and Cocoa.

https://stories.starbucks.com/uploads/2021/06/SBX20210615-SbuxLogo-FeatureHorizontal-1024x498.jpg

Starbucks Rewards™ now offers members easier and faster ways to earn Stars and exclusive benefits

São Paulo – Starbucks today announced a newly enhanced Starbucks Rewards™ loyalty program by giving members a faster way to earn Stars toward free items in Brazil. The enhanced program also includes the ability to redeem Stars for more menu items and merchandise, such as beverages, food, and reusable Starbucks mugs and tumblers. Members will continue to earn Stars by using their Starbucks Card in store or through the Starbucks Brasil app. &nbsp;

The Starbucks Rewards™ program also offers an enhanced digital experience with the expansion of Starbucks® Peça Pelo Celular, a mobile order feature available exclusively for members through the Starbucks Brasil app. The feature allows members to place their order at select stores for a preferred pick-up time and pay in advance while earning Stars.&nbsp;

“Since the launch of our initial loyalty program in Brazil in 2014, the enhancement of Starbucks Rewards is the most important transformation of the program in order to offer a unique digital experience to our customers,” said Sandra Collier, Head of Marketing, Loyalty and Categories, Starbucks Brazil. "We have invested not only in the platform technology, but especially in the program structure, with the objective of offering a more intuitive process through features that enhance the Starbucks Experience on our digital platforms", Collier finalized.

Starbucks Rewards members can now earn one (1) Star for every R$ 2.50 spent in purchases in all Starbucks stores in Brazil or the Starbucks Brasil app.

The program has six (6) reward levels, starting with 15 Stars:

In addition, customers will have access to exclusive benefits:

To redeem Stars, members can visit any Starbucks store, show the barista partner (employee) the Star balance on the Starbucks Brasil app, select the product of their preference according to the level of Rewards and confirm the redemption through the app's code.

Customers can join the Starbucks Rewards™ program through the free Starbucks Brasil app. Download the app (available for Android and iOS systems), register for the program, and activate it with the first purchase.

More about Starbucks® Peça Pelo Celular

At select stores, Starbucks Rewards™ members can place their order for pick-up and pay in advance by using Starbucks® Peça Pelo Celular through the Brasil app.

The service will be available in São Paulo and Brasilia stores.

Enhancing the digital experience

Through SouthRock, the brand's licensed operator in the country, Starbucks remains committed to constantly enhancing the experience of Brazilian customers by offering digital innovations to meet and exceed their preferences. The company created SouthRock Lab, a digital and business solutions specialized team focused on creating powerful initiatives to optimize customers relationship in physical and digital environments, providing the unique Starbucks Experience to customers across all platforms.

Bringing the Starbucks Experience to more customers

Starbucks seeks to grow in a way that is unique to the brand with a focus on enhancing digital innovation and bringing the Starbucks Experience to more Brazilian customers.

In recent years, Starbucks and SouthRock have defined an important growth agenda with focus on expanding into both new and existing markets. As part of this commitment, Starbucks recently announced its arrival in three new markets in Brazil in the second semester of 2021: Porto Alegre (Rio Grande do Sul), Belo Horizonte (Minas Gerais) and Curitiba (Paraná), as well as expanding its presence in the states of São Paulo, Rio de Janeiro, Santa Catarina and Distrito Federal, where Starbucks already welcomes Brazilian customers. Starbucks remains committed to continue sharing its coffee passion in Brazil through initiatives that enhance its customer experience.

Today, there are 129 Starbucks stores, across four cities in Brazil with more than 1,100 partners (employees) who proudly wear the green apron.

Sobre a SouthRock

Operadora licenciada da Starbucks no Brasil, a SouthRock é uma empresa formada por três sócios operadores com larga experiência no segmento de varejo que resolveram se unir para oferecer algo novo para o mercado de foodservice brasileiro. Fundada em 2015, com sede em São Paulo, iniciaram suas operações no ano de 2017, por meio de B.A.R. (Brazil Airport Restaurants), operadora multimarcas de alimentos e bebidas nos aeroportos do Brasil, quando foram inauguradas suas primeiras lojas no Aeroporto Internacional de Guarulhos. Em 2018, a empresa assinou um contrato de licenciamento exclusivo com as marcas Starbucks Brasil e com TGI Fridays que os concedeu o direito de operar essas marcas em todo território nacional (modelo utilizado por essas marcas globalmente).

O processo de expansão da companhia foi ampliado em 2019, quando foram inauguradas as lojas da Starbucks em Santa Catarina, o primeiro mercado fora de São Paulo e Rio de Janeiro. Durante esse mesmo ano, também teve início a SouthRock Lab, braço digital, com o objetivo de desenvolver tecnologias para melhorar as experiências físicas x digitais e as interações entre clientes e marcas.

A SouthRock tem o compromisso de expandir constantemente os negócios de forma a alcançar mais pessoas e mais comunidades com suas marcas, oferecendo ótimos serviços, compartilhando valores e impactando positivamente a sociedade, sempre tendo clientes e funcionários em primeiro lugar ao lado de suas marcas.

The enhanced program also includes the ability to redeem Stars for more menu items and merchandise, such as beverages, food, and reusable Starbucks mugs and tumblers.

Starbucks enhances loyalty program to Starbucks Rewards in Brazil

https://stories.starbucks.com/uploads/2019/01/City_logo.jpg

https://stories.starbucks.com/press/2021/starbucks-enhances-loyalty-program-to-starbucks-rewards-in-brazil/