SEATTLE – Starbucks Corporation (Nasdaq: SBUX) today reported financial results for its 13-week fiscal second quarter ended April 2, 2023. GAAP results in fiscal 2023 and fiscal 2022 include items that are excluded from non-GAAP results. Please refer to the reconciliation of GAAP measures to non GAAP measures at the end of this release for more information.

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For the full press release, please visit our Investor Relations site <a href="https://investor.starbucks.com/2Q23-Earnings-Release/" target="_blank" rel="noreferrer noopener">here</a>.

“I am very pleased with our Reinvention progress and grateful for the opportunity to fully immerse into the company, which I formally took over on March 20, 2023. It is a privilege to have learned from our founder and partners around the world,” commented Laxman Narasimhan, chief executive officer. “From my immersion observations, our leadership team now has a clear line of sight into our growth headroom, as well as our opportunities to enhance margins and modernize the business, brand, partner experience and culture of Starbucks. As we strive to continue to be a different kind of company, we will unlock our limitless possibilities to meet the needs of today and, importantly, the future of Starbucks,” Narasimhan added.

“I am so proud of our outstanding second quarter performance, underscoring strength in both topline and margin globally. This momentum was made possible by the investments we are making in our stores and partners, and allowed us to continue unlocking capital to further reinvest in our business,” commented Rachel Ruggeri, chief financial officer. “As we begin on this next step in our journey, I’m confident that, together with our partners, our execution against our Reinvention plan and broader strategies will position us in our new era,” Ruggeri added. 

“In support of our Reinvention Plan, and as part of our ongoing efforts to transform our store portfolio, we continue to open, close and evolve our stores as we assess, reposition and strengthen our store portfolio. We are pleased to have opened over 100 net new stores in North America during the quarter and are excited to now have nearly 17,500 stores across the segment,” commented Sara Trilling, executive vice president and president of Starbucks North America. “International added more than 360 net new stores and continues to grow in-line with our ambitious expectations,” added Michael Conway, group president, International and Channel Development.

Two female Starbucks baristas standing behind the point of sale.

Starbucks today reported financial results for its 13-week fiscal second quarter ended April 2, 2023.

Starbucks Reports Q2 Fiscal 2023 Results

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Starbucks Corporation (Nasdaq: SBUX) today reported financial results for its 13-week fiscal fourth quarter and 52-week fiscal year ended October 2, 2022.

For the full press release, please visit our Investor Relations site <a href="https://investor.starbucks.com/press-releases/financial-releases/press-release-details/2022/Starbucks-Reports-Q4-and-Full-Year-Fiscal-2022-Results/default.aspx" target="_blank" rel="noreferrer noopener">here</a>.

“We saw accelerating demand for Starbucks coffee around the world in Q4 and throughout the year,” said Howard Schultz, interim chief executive officer. “And our Q4 results demonstrate early evidence of the success of our U.S. Reinvention investments. Reinvention will touch, and elevate, every aspect of our Starbucks partner, customer and store experiences, and ideally position Starbucks to deliver accelerated, sustainable, long-term, profitable growth and value creation beginning in 2023,” Schultz added. 

“We are incredibly proud of our Q4 performance, and our 2023 guidance sets the stage for another year of record performance,” commented Rachel Ruggeri, chief financial officer.

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Starbucks Reports Q4 Fiscal 2022 Results

Starbucks Reports Q4 and Full Year Fiscal 2022 Results

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Starbucks Corporation (NASDAQ: SBUX) today reported financial results for its 13-week fiscal third quarter ended July 3, 2022.

For the full press release, please visit our Investor Relations site <a href="https://s22.q4cdn.com/869488222/files/doc_financials/2022/q3/Q3-FY22-Earnings-Release-Final-to-Q4.pdf">here</a>.

“We have clear line-of-sight on what we need to do to reinvent the company, elevate our partner and customer experiences and drive accelerated, profitable growth all around the world,” said Howard Schultz, interim chief executive officer. “The Q3 results we announced today demonstrate the early progress we have made in just four short months,” Schultz added.

“We delivered record-breaking revenue performance during the quarter from continued strength in customer demand globally, balanced with our ability to execute investments despite macroeconomic and operational headwinds. Our commitment to deliver shareholder value has not wavered, and we are making the right decisions and investments today for the future of Starbucks,” commented Rachel Ruggeri, chief financial officer.

Woman barista wearing glasses smiles and writes on a cup

“The Q3 results we announced today demonstrate the early progress we have made in just four short months,” said ceo Howard Schultz.

Starbucks Reports Q3 Fiscal 2022 Results

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Starbucks today announced record-breaking Q3 FY21 earnings results, fueled by the continued strength of the Starbucks brand around the world. As customer mobility increases, the company is at the beginning of what it has deemed “The Great Human Reconnection,” which is translating to increases in demand for Starbucks as people are again on-the-go, reconnecting and socializing with one another.

“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.

Full details on Starbucks financial results can be found&nbsp;<a href="https://stories.starbucks.com/press/2021/starbucks-reports-q3-fiscal-2021-results/">here</a>.

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Starbucks ‘Growth at Scale’ Agenda&nbsp;Drives Record-Breaking Results

The impressive momentum Starbucks <a href="https://stories.starbucks.com/stories/2021/key-takeaways-from-starbucks-q2-fy21-earnings-results/">saw in Q2</a>&nbsp;, accelerated through Q3, which delivered record revenue of $7.5 billion, up 78% year-on-year driven by strong performance in the U.S., significant net new store growth in China, and continued share gains in the at-home coffee market.&nbsp;&nbsp;

In the U.S., the company’s disciplined focus on delivering beverage innovation, elevating the customer experience and creating digital relationships with customers drove year-on-year revenue growth of 90% and two-year revenue growth of 16%. Comparable same store sales grew 83%, and importantly, two-year comp grew 10%, despite mobility restrictions still impacting some U.S. geographies and industry-wide pressure in pockets of the supply chain.

Starbucks China reported positive results with year-on-year revenue growth of 45% while total revenue in China has grown by 23% in just two years. The company posted 19% same store comp growth in Q3 and reported sequential improvement on every key metric on a two-year basis, including total revenue growth, store traffic recovery and margin expansion. Starbucks China ended the quarter with 5,135 stores and is well on track to operate over 6,000 stores by the end of fiscal year 2022.

Strong Demand for Cold Coffee Fuels Starbucks Results

Starbucks continues to see strong demand for Starbucks Cold Brew, Nitro Cold Brew, and Starbucks Refreshers beverages. <a href="https://stories.starbucks.com/stories/2021/shake-things-up-a-little-with-starbucks-new-non-dairy-iced-shaken-espresso-beverages/">Iced Shaken Espresso</a>&nbsp;alone contributed more than a third of the U.S. iced espresso growth in the quarter. The cold category represented 74% of U.S. beverage sales in Q3, growing 10 percentage points over the last two years.

Additionally, alternative dairy offerings now represent nearly 25% of milk related beverage sales in the U.S. These products in cold and alternative dairy are particularly attractive to Millennial and Gen Z customers and are aligned with the company’s focus on the well-being of people and the planet.

Shifting Customer Behaviors Extend the Starbucks Experience

As consumer behaviors continue to evolve, the company continues to extend the Starbucks Experience through digital customer relationships and relevant store formats.

In the U.S., the Starbucks Rewards loyalty program grew to more than 24 million active members*, representing 51% of all spend in U.S. company-operated stores and up 8 percentage points over pre-pandemic levels. More and more, customers are embracing experiences that effortlessly fit their lifestyle, as evidenced at U.S. company-operated stores where drive-thru represented 47% of transactions and mobile ordering for in-store pickup, delivery or curbside at 26% of transactions.

In China, Starbucks is expanding digital customer relationships and engagement by creating new occasions and experiences to make mobile ordering even more convenient and personalized. This has resonated strongly with customers in China, propelling mobile ordering to 34% of sales, more than double pre-COVID levels. Starbucks Rewards continues to expand, driving 90-day active members to an all-time high of 17 million, a 4% increase over the previous quarter and a 71% increase versus prior year.

Company Expands Reach and Leadership Position in At Home Coffee

In Q3, Starbucks retained its #1 brand position in total U.S. at-home coffee, further expanding its leadership position.

The Global Coffee Alliance with Nestlé continues to see strong performance across all aspects of the key strategic relationship. The Starbucks by Nespresso on the Vertuo line, introduced earlier this year, is already exceeding 6-month distribution and velocity targets, building on the success of the Starbucks by Nespresso platform.

In the Ready-to-Drink category, Starbucks is the #1 premium brand globally, with the North American Coffee Partnership with PepsiCo growing 19% in consumption, and the international Ready-to-Drink business growing double-digits in EMEA and China Asia Pacific.&nbsp;

These channels amplify the Starbucks brand in more than 80 markets around the globe, offering millions of consumers at-home and at-work options that complement their Starbucks in-store experience. Just yesterday, the company <a href="https://stories.starbucks.com/press/2021/starbucks-and-nestle-to-bring-ready-to-drink-coffee-beverages-to-southeast-asia-oceania-and-latin-america/">announced plans</a> to reach new markets and grow its Starbucks Ready-to-Drink portfolio with Nestlé, who will now serve markets across Southeast Asia and Latin America.

50 Years Later, Starbucks Future is Bright

As the company celebrates its 50th Anniversary, Starbucks remains as confident as ever in its strategy and believes this quarter represents the beginning of a multi-year tailwind, powered by:

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The combination of what’s ahead, reinforced by the company’s strong Q3 results provides Starbucks with confidence that this is just the beginning of what is about to unfold.&nbsp;

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Starbucks today announced record-breaking Q3 FY21 earnings results, fueled by the continued strength of the Starbucks brand around the world.

Key takeaways from Starbucks Q3 FY21 earnings results

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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.

“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>.

"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

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Starbucks today announced its Q2 FY21 earnings results, demonstrating full sales recovery in the U.S and forward momentum globally. While the COVID-19 pandemic is not over, this momentum gives the company confidence to raise full year guidance for the remainder of FY21.

“I am very pleased with our progress to date in fiscal 2021, as our second quarter results demonstrated impressive momentum in the business with full sales recovery in the U.S.&nbsp; Our strong results validate our ability to adapt to changes in our environment and the needs of our customers,” said Kevin Johnson, president and ceo.&nbsp;

“We have positioned Starbucks for the inevitable great human reconnection that we see unfolding in the U.S. and will propagate in every market around the world, where people once again connect with others face-to-face to heal, to belong, to reflect, to share and to celebrate.&nbsp; Starbucks was built for this moment, and as we celebrate our 50th anniversary, we remain confident in our ability to execute our ‘Growth at Scale’ agenda and unlock the full potential of the Starbucks brand,” concluded Johnson.

Full details on Starbucks financial results can be found <a href="https://stories.starbucks.com/press/2021/starbucks-reports-q2-fiscal-2021-results/" target="_blank" rel="noreferrer noopener">here</a>.

1. Starbucks ‘Growth At Scale’ Agenda Drives Continued Momentum

With its Growth at Sale agenda in place well before the global pandemic emerged, Starbuck quickly set guiding principles and established store protocols to navigate the pandemic globally. The company continues to monitor events in real-time, quickly adapting to changing conditions and working to provide safe, familiar and convenient experiences for our partners (employees) and customers.

With vaccination programs underway, and in turn, increased customer mobility, the company has begun to see what it describes as “The Great Human Reconnection,” which is coming to life in stores globally as the COVID-19 vaccine distribution progresses at varying rates. This was evidenced by sales in the U.S., where second-quarter comparable store sales rose to 9% in the U.S., with average ticket meaningfully higher than pre-pandemic levels. Importantly, the company furthered its three business-driving initiatives fundamental to the company’s “Growth at Scale” agenda: elevating the customer experience, driving relevant beverage innovation, and expanding digital customer engagement.&nbsp;

In China, Starbucks reported a 91% comparable store sales growth, including VAT favorability of approximately 9 percentage points. As COVID-related travel restrictions subsided late in the quarter, the market saw momentum in customer mobility, particularly in the residential, office and commercial trade zones. In Q2, Starbucks opened 110 net new stores, equating to 14% growth in net new stores over the past 12 months. This week, Starbucks announced the company’s 5,000th store opening in China, demonstrating continued confidence in Starbucks long-term growth opportunity in China.

2. As Customers Seek Reconnection, Starbucks Provides Convenient, Elevated And Personalized Experiences With continued focus on building connections between partners and customers, Starbucks strives to meet customers where they are, even as transactions have migrated from dense metro centers to suburbs, and from cafés to drive-thrus. The company reported that affinity for Starbucks has strengthened, as measured by improvements in customer connection scores and growth in customer loyalty, which further reinforces the strength and resilience of the Starbucks brand and healthy optimism for the future.

The drive-thru channel has improved quarter-over-quarter since the onset of the pandemic, and Starbucks continues to invest in several initiatives to increase throughput. including updated operational standards, “hand-held order devices,” more efficient warming ovens, and accelerated deployment of our more efficient Mastrena Espresso machines. As a result, Drive-Thru saw a slight improvement in “out-the-window” times versus the prior year. Out-the-window drove over 50% of net sales in Q2, increasing more than 10% from pre-pandemic levels.

As the Great Human Reconnection gains momentum, and in anticipation of behaviors and daily routines continuing to evolve, Starbucks is meeting customers wherever they may be, with the right store, in the right place, and at the right time.

3. Increased Strength Of Digital Customer Relationships Drives Results Through Starbucks Rewards™ And Beyond

Digital continues to be a significant growth driver for the company, with the Starbucks Rewards™ loyalty program continuing to exceed pre-COVID levels.

The Starbucks Rewards program saw continued growth in member spend, accounting for 52% of U.S. company-operated sales in Q2, reflecting strong member engagement, and the program grew to a record 22.9 million* members in the quarter. The loyalty program’s member base has expanded by 19% following the launch of <a href="https://stories.starbucks.com/stories/2020/seeing-stars-more-ways-to-pay-and-5-fun-facts-about-starbucks-rewards/">Stars for Everyone</a>&nbsp;just six months ago.

The company’s digital capabilities are credited with successfully transforming digital relationships to drive mobile ordering, while also amplifying convenience and safety which remain top of mind for customers. Mobile orders represented 26% of U.S. company-operated transactions in Q2, up from 18% a year ago.

In China, the number of 90-day active Starbucks Rewards members more than doubled versus the prior year to 16.3 million, driving 72% of sales in China, up 5 percentage points from prior year. In addition, the company expanded the Starbucks Now™ mobile order and pay service to WeChat, making mobile ordering services available to customers on both Alibaba and WeChat ecosystems, as well as on the Starbucks App. Mobile Order sales mix hit a record 24% of sales in China, up from 30% in Q1, with 15% driven by Starbucks Delivers and 19% from Starbucks now. Starbuck Rewards customers engagement continues to grow as mobile order sales have more than doubled in China over this past year.

4. Starbucks Cold Beverage Menu Continues to be Hot

With a focus on relevant new hand-crafted beverages, Starbucks Winter and Spring menus resonated with customers and drove momentum. Cold beverages delivered resounding year-over-year growth in Q2 led by Cold Espresso, Starbucks Refreshers and Cold Brew. The company also reported overwhelmingly positive response to <a href="https://stories.starbucks.com/press/2021/oatly-oatmilk-coming-to-starbucks-nationwide-in-the-us/" target="_blank" rel="noreferrer noopener">Oatmilk</a>, with the Iced Brown Sugar Oatmilk Shaken Espresso far exceeding expectations to-date. This has helped push year-over-year growth of 53% in alt-dairy beverage sales as customers continue to gravitate toward the company’s leading portfolio of non-dairy beverage options.

In the U.S., average ticket remains meaningfully higher than pre-pandemic levels, driven by a combination of increased beverage attach, increased customization and all-time high food attach, with plant-based options and breakfast sandwiches leading the way.

5. At Home Coffee Amplifies Brand with Increased Category Share

Throughout the quarter, availability of Starbucks products through multiple channels gained further relevance as Starbucks share of total packaged coffee outpaced the category, growing over 8% in dollar sales in the U.S. in Q2. Starbucks remained the number one brand in total coffee in the U.S. and was the top share gainer of the coffee category in Q2, gaining nearly one and a half points over the prior year.

Internationally, Starbucks products on single-serve platforms, including Nespresso and Dolce Gusto, continue to exceed expectations. The Global Coffee Alliance is now in 71 markets around the world, up from 48 markets in Q2 FY20.

In addition, consumption of U.S. ready-to-drink coffee products (in partnership with PepsiCo) grew more than 23% in the quarter, over a 5% increase from Q1. The company recently launched new beverages, including the <a href="https://stories.starbucks.com/stories/2021/revamp-your-daily-coffee-ritual-with-new-starbucks-cold-and-crafted-and-more/" target="_blank" rel="noreferrer noopener">Cold &amp; Crafted platform and new Nitro Cold beverages</a>, leveraging last year’s Starbucks Nitro RTD platform launch, the number one innovation in the RTD category.

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*90-day active Starbucks Rewards members as of Q2

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Starbucks today announced its Q2 FY21 earnings results, demonstrating full sales recovery in the U.S and forward momentum globally.

Key takeaways from Starbucks Q2 FY21 Earnings Results

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Q2 Comparable Store Sales Growth of 9% in the U.S.; Demonstrating Full Sales Recovery

Q2 Comparable Store Sales Growth of 91% in China, Including Reinstated VAT Benefit

Q2 GAAP EPS $0.56; Non-GAAP EPS $0.62 Reflecting Meaningful Margin Improvement from Prior Quarter

Active Starbucks® Rewards Membership in the U.S. Up 18% Year-Over-Year to 22.9 Million

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

SEATTLE; Starbucks Corporation (NASDAQ: SBUX) today reported financial results for its 13-week fiscal second quarter ended March&nbsp;28, 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.

PDF: <a href="https://stories.starbucks.com/uploads/2021/04/Starbucks-Q2-FY21-Earnings-Release.pdf" target="_blank" rel="noreferrer noopener">Detailed financial data</a>

Q2 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 the <a href="https://78449.themediaframe.com/dataconf/productusers/sbux/mediaframe/38937/indexl.html" target="_blank" rel="noreferrer noopener">live audio webcast</a>.

"Starbucks was built for this moment, and as we celebrate our 50th anniversary, we remain confident in our ability to execute our ‘Growth at Scale’ agenda and unlock the full potential of the Starbucks brand," said Kevin Johnson, president & ceo.

Starbucks Reports Q2 Fiscal 2021 Results

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Q1 Comparable Store Sales of -5% in the U.S. and 5% in China, Demonstrating Sustained Recovery

Q1 GAAP EPS $0.53; Non-GAAP EPS $0.61 Reflecting Substantial Margin Improvement from Prior Quarter

Active Starbucks® Rewards Membership in the U.S. Up 15% Year-Over-Year to 21.8 Million

Fiscal 2021 Outlook Reaffirms Path to Full Recovery

SEATTLE –&nbsp; Starbucks Corporation (NASDAQ: SBUX) today reported financial results for its 13-week fiscal first quarter ended December&nbsp;27, 2020.&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.

“I am very pleased with our start to fiscal 2021, with meaningful, sequential improvements in quarterly financial results despite ongoing business disruption from the pandemic.&nbsp; Investments in our partners, beverage innovation and digital customer relationships continued to fuel our recovery and position Starbucks for long-term, sustainable growth,” said Kevin Johnson, president and ceo.&nbsp;

“Our results demonstrate the continued strength and relevance of our brand, the effectiveness of the actions we’ve taken to adapt to changes in consumer behavior and the steadfast commitment of our green apron partners to serve our customers and communities. We remain optimistic about our robust operating outlook for fiscal 2021 as well as our ability to unlock the full potential of Starbucks to create value for our stakeholders,” concluded Johnson.

PDF: <a href="https://stories.starbucks.com/uploads/2021/01/Starbucks-Q1-FY21-Earnings-Release.pdf">Detailed financial data</a>

Q1 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 the <a href="https://78449.themediaframe.com/dataconf/productusers/sbux/mediaframe/38935/indexl.html">live audio webcast</a>.

Investments in our partners, beverage innovation and digital customer relationships continued to fuel our recovery and position Starbucks for long-term, sustainable growth.

Starbucks Reports Q1 Fiscal 2021 Results

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In the latest indication that the brand’s relevance with customers remains as strong as ever, Starbucks today announced its Q4 FY20 earnings results that point to a continued business recovery and an optimistic outlook for FY21.

Leveraging rapid innovation while keeping partner (employee) safety as a central focus through the COVID-19 pandemic, the company has shown a new level of resilience through one of the most challenging years for the retail industry.

As part of Starbucks quarterly earnings <a href="https://investor.starbucks.com/ir-home/default.aspx" target="_blank" rel="noreferrer noopener">call</a>, Starbucks president and ceo Kevin Johnson provided specifics on the improving business results and the company’s continued confidence in the path ahead.

“The guiding principles we established at the onset of the pandemic, combined with our industry-leading digital platform and our ability to innovate rapidly, continue to fuel our recovery and provide confidence in a robust operating outlook for fiscal 2021.&nbsp;Our strategies are working and I am optimistic that we will emerge from the COVID-19 pandemic as a stronger and more resilient company,” said Kevin Johnson, president and ceo.&nbsp;

Full details on Starbucks financial results can be found <a href="https://stories.starbucks.com/press/2020/starbucks-reports-q4-fiscal-2020-results/" target="_blank" rel="noreferrer noopener">here</a>.

1. Starbucks recovery strategy is working with the company reporting better-than-expected sales and profits in the fourth quarter. In the U.S., the company finished the quarter with a comparable store sales decline of 4% for the month of September, a vast improvement from the approx. 60% decline experienced at the depth of the pandemic only five months ago.

For the month of September, China’s comparable store sales were up 1%, building on the positive momentum seen in Q3 and reflecting continued sequential improvement. The company opened almost 260 stores in China in the fourth quarter alone, contributing to 14% growth in the market over the last 12 months.

2. Elevating and expanding customer experiences continues to be top of mind for the company. As communities continue to adapt to new routines, including working from home and remote schooling, Starbucks continues to provide familiar experiences, as well as introduce even more convenience including the expansion of Curbside Pickup and introduction of handheld POS devices. Staying ahead of customer trends has resulted in high customer connection and partner engagement scores throughout the pandemic.

3. Seasonal favorites and new innovations continue to delight customers, including the highly-anticipated return of popular Pumpkin Spice products. Sales of the company’s Pumpkin Cream Cold Brew and Pumpkin Spice Latte saw record high in average daily units, and the company’s cold beverage platform also saw strong performance, led by Refreshers and Cold Brew which delivered double-digit growth in Q4. With the holiday season approaching, the company is gearing up for the return of beloved Holiday menu items, including the Peppermint Mocha which is returning for its 18th year.

4. Expanding digital customer connections including convenient and contactless experiences have been key driver to the company’s recovery. In Q4, approx. 75% of U.S. sales volume came from drive-thru and Mobile Orders, balanced with expanded in-store seating in stores where it is safe to do so. The company also saw a rebound in the number of active Starbucks Rewards (SR) members, which grew 10% year over year to 19.3 million members in the U.S with the SR program driving 47% of U.S. company-operated tender for the second straight quarter. Also in Q4, the company launched “<a href="https://www.starbucks.com/rewards" target="_blank" rel="noreferrer noopener">Stars for Everyone</a>” which removed the Stored Value Card requirement to join the SR loyalty program.

In China, Starbucks saw continued strength in the mobile platform with mobile order sales mix more than doubling in the past 12 months to 26% in Q4. The digital innovations launched in China throughout fiscal 2020 include a new WeChat Mini-program and the enhanced Starbucks Rewards program, as well as a digital partnership with Alibaba, have fueled customer engagement and strong sequential growth in active Rewards members in the market.

5. Looking ahead to fiscal 2021, the company shared guidance on what investors can expect moving forward, including:

Barista carrying tray outside for curbside pickup

Starbucks president and ceo Kevin Johnson provided specifics on the improving business results and the company’s continued confidence in the path ahead.

Key takeaways from Starbucks Q4 FY20 earnings results

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As part of Starbucks quarterly earnings call, Starbucks president and ceo Kevin Johnson provided specifics on the improving business results and the company’s continued confidence in the path ahead.

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Q4 Comparable Store Sales of -9% in the U.S. and -3% in China, Demonstrating Sustained Recovery Q4 GAAP EPS of $0.33; Non-GAAP EPS of $0.51 Reflecting Substantial Improvement from Q3 Active Starbucks® Rewards Membership in the U.S. Up 10% Year-Over-Year to 19.3 Million Fiscal 2021 Outlook Reaffirms Path to Full Recovery

SEATTLE – Starbucks Corporation (NASDAQ: SBUX) today reported financial results for its 13-week fiscal fourth quarter ended September&nbsp;27, 2020.&nbsp; GAAP results in fiscal 2020 and fiscal 2019 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.

“I am very pleased with our strong finish to fiscal 2020, underpinned by a faster-than-expected recovery in our two lead growth markets, the U.S. and China.&nbsp; These results demonstrate the continued strength and relevance of our brand,&nbsp;the effectiveness of the actions we’ve taken to adapt to meaningful changes in consumer behavior and the extraordinary efforts of our green apron partners to serve our customers and communities in challenging circumstances,” said Kevin Johnson, president and ceo.&nbsp;

“The guiding principles we established at the onset of the pandemic, combined with our industry-leading digital platform and our ability to innovate rapidly, continue to fuel our recovery and provide confidence in a robust operating outlook for fiscal 2021.&nbsp; Our strategies are working and I am optimistic that we will emerge from the COVID-19 pandemic as a stronger and more resilient company,” concluded Johnson.

PDF: <a href="https://stories.starbucks.com/uploads/2020/10/Starbucks-Earnings-Release-Q4-FY20.pdf">Detailed financial data</a>

Q4 Fiscal 2020 Highlights

Full Year Fiscal 2020 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 the&nbsp;<a href="https://78449.themediaframe.com/dataconf/productusers/sbux/mediaframe/33695/indexl.html">live audio webcast</a>.

(1)In this earnings release, we estimated the impact of COVID-19 by comparing actual results to our previous forecasts.&nbsp; These forecasts were created before the spread of the virus and were based on information available at the time and on various assumptions that we believe were reasonable.&nbsp;

(2)In this earnings release, the EPS impact of COVID-19 represents an approximation based on the pandemic’s estimated impact on operating results.&nbsp; It does not incorporate any impacts of COVID-19 on non-operating items, such as interest income, interest expense, income taxes and outstanding shares.

"These results demonstrate the continued strength and relevance of our brand, the effectiveness of the actions we’ve taken to adapt," said Kevin Johnson.

Starbucks Reports Q4 Fiscal 2020 Results

https://stories.starbucks.com/press/2020/starbucks-reports-q4-fiscal-2020-results/

"These results demonstrate the continued strength and relevance of our brand, the effectiveness of the actions we’ve taken to adapt to meaningful changes in consumer behavior," said Kevin Johnson.

Q3 Consolidated Net Revenues of $4.2 Billion, Down 38% from Prior Year Due to Adverse Impact of COVID-19

Q3 GAAP EPS of -$0.58; Non-GAAP EPS of -$0.46 Reflecting Material Sales Deleverage and Retail Partner Support

COVID-19 Impacts Expected to Moderate Meaningfully in Q4 as Recovery Continues

SEATTLE; Starbucks Corporation (NASDAQ: SBUX) today reported financial results for its 13-week fiscal third quarter ended June&nbsp;28, 2020.&nbsp; GAAP results in fiscal 2020 and fiscal 2019 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.

“Since the beginning of the COVID-19 outbreak in January, we have taken a principled approach to navigate the crisis, true to our mission and values.&nbsp; Every step of the way, we have thoughtfully addressed the needs of Starbucks stakeholders and are particularly proud of the industry-leading investments we have made to support our partners while creating a safe, familiar and convenient experience for our customers.&nbsp; Starbucks partners have risen to the occasion, and our near-term focus is to recover sales safely and responsibly by offering our customers the comfort and care that differentiate the Starbucks Experience,” said Kevin Johnson, president and ceo.

“We are pleased to share that the vast majority of Starbucks stores around the world have reopened and our global business is steadily recovering, demonstrating the relevance of the Starbucks brand and the trust we have built with our customers.&nbsp; As we continue to drive the recovery, we are also building resilience for the future by accelerating the transformation of our business in ways that will elevate the customer and partner experience and drive long-term growth.&nbsp; We firmly believe that we are well positioned to regain the positive business momentum we had before the pandemic began and look forward to reigniting our 'Growth at Scale' agenda,” concluded Johnson.

PDF: <a href="https://stories.starbucks.com/uploads/2020/07/Starbucks-Q3-FY20-Earnings-Release.pdf">Detailed financial data</a>

Q3 Fiscal 2020 Highlights

Visit the <a href="https://investor.starbucks.com/ir-home/default.aspx" target="_blank" rel="noreferrer noopener">Investor Relations page </a>to access the <a href="https://78449.themediaframe.com/dataconf/productusers/sbux/mediaframe/33694/indexl.html" target="_blank" rel="noreferrer noopener">live audio webcast</a>.

(1) In this release, we estimate the impact of COVID-19 by comparing actual results to our previous forecasts.&nbsp; These forecasts were created prior to the spread of the virus and were based on information available at the time and on a variety of assumptions which we believe were reasonable, some or all of which may prove not to be accurate.

(2) In this release, the EPS impact of COVID-19 represents an approximation based on the estimated impact of the pandemic on operating results. It does not incorporate any impacts of COVID-19 on non-operating items, such as interest income, interest expense, income taxes and outstanding shares.

Starbucks today reported financial results for its 13-week fiscal third quarter ended June 28, 2020.

Starbucks Reports Q3 Fiscal 2020 Results

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https://stories.starbucks.com/press/2020/starbucks-reports-q3-fiscal-2020-results/

"Starbucks partners have risen to the occasion, and our near-term focus is to recover sales safely and responsibly by offering our customers the comfort and care that differentiate the Starbucks Experience," said Kevin Johnson.

https://stories.starbucks.com/uploads/2020/07/SBX20200728-Q3EarningsTakeaways-Feature-1024x498.jpg

Starbucks today announced its Q3 FY20 earnings results, providing insight into the company’s continued road to recovery from the COVID-19 pandemic. Full details on the company’s financial results, can be found <a href="https://stories.starbucks.com/press/2020/starbucks-reports-q3-fiscal-2020-results/" target="_blank" rel="noreferrer noopener">here</a>.

As part of Starbucks quarterly earnings call, Starbucks president and ceo Kevin Johnson will provide specifics on the improving business results the company is driving through COVID-19 as well as details of how Starbucks is playing offense by accelerating key strategic initiatives that further differentiate Starbucks and reinforce the long-term, sustainable growth opportunity ahead.

“We are pleased to share that the vast majority of Starbucks stores around the world have reopened and our global business is steadily recovering, demonstrating the relevance of the Starbucks brand and the trust we have built with our customers,” said Johnson. “As we continue to drive the recovery, we are also building resilience for the future by accelerating the transformation of our business in ways that will elevate the customer and partner experience and drive long-term growth. We firmly believe that we are well positioned to regain the positive business momentum we had before the pandemic began and look forward to reigniting our 'Growth at Scale' agenda.”

1. Starbucks recovery strategy is working as company sees meaningful improvements in both sales and profitability as the quarter unfolded: At the close of Q3,96% of Starbucks company-operated stores were open in the U.S. (up from 44% at the beginning of the quarter), and the company saw weekly U.S. comps steadily improve throughout the quarter. Through the quarter, the company posted all-time-high customer connection scores as customers returned, indicating the strength of the recovery across the businesses.

On the call with investors, Johnson shared, “With the vast majority of stores around the world now reopened, we saw meaningful improvements in both sales and profitability as the quarter unfolded. Additionally, customer affinity for Starbucks is very strong as demonstrated by improvements in our customer connection scores, growth in customer loyalty, and market share gains.&nbsp; While we anticipate these improvements to continue, our balance sheet and the strategic actions we have taken have positioned Starbucks to weather a more protracted disruption in global economic activity.”

2. Company stays ahead of evolving customer behaviors with flexible store and digital experiences: Today, customers are seeking safe, familiar, and convenient experiences in many aspects of their lives—and in that regard, Starbucks digital assets have proven to be a competitive advantage. Mobile Order and Pay reached a record 22% of transactions in Q3, thanks in part to the contactless approach in stores. Delivery usage tripled in Q3 from the prior quarter and, Starbucks has begun rolling out curbside pickup with positive early results. Further, with plans for 700-1,000 Curbside locations and 50 new Starbucks PickUp locations, the company is well positioned to drive further recovery by increasing throughput.

Johnson further noted, “In response to clear shifts in consumer behavior and preferences, we are now accelerating strategic initiatives for the future and positioning Starbucks for continued long-term growth.&nbsp; We have moved aggressively to advance our evolution of the store base to accommodate trends that we have long seen emerging in our business that were only exacerbated by COVID-19.

3. Starbucks sees growing customer loyalty and readies to enhance the program this Fall: In Q3, the Starbucks Rewards™ loyalty program as a percentage of tender rose four percentage points from a year ago to 46% - above the pre-COVID trend – with year-over-year sales growth from Starbucks Rewards customers turning positive in early July. Earlier this month, the company <a href="https://stories.starbucks.com/stories/2020/starbucks-to-offer-rewards-members-more-ways-to-pay-and-earn-stars/">announced plans to build on this momentum in the Fall</a>, when it introduces a new, pay-as-you-go option for Starbucks Rewards members in the U.S. and Canada.

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