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.

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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>.

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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:

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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.

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.

To investors, Johnson offered, “In every industry, there are periods of disruption that create great opportunity for those businesses that adapt to the disruption, invest in relevant ways, and strengthen their differentiation and competitive advantage. Those businesses that fail to evolve, typically fall behind. Given the strength of our brand, our advanced digital capabilities and our strong balance sheet, I believe this is one of those rare opportunities to move aggressively and further differentiate Starbucks from our competition.”

4. Demand for Starbucks at-home coffee soars: In a quarter where at-home coffee consumption has soared, Starbucks Channel Development business has gained market share as customers adjust to their at-home routines. Through the Global Coffee Alliance with Nestlé, combined with the company’s ready-to-drink partners Pepsico and Tingyi, Starbucks has extended the ability to meet customers where they are.

“This has been a quarter where demand for at-home coffee has soared and our Channel Development business has demonstrated tremendous resilience and gained market share as customers adjust to their at-home routines,” Johnson said.

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Starbucks today announced its Q3 FY20 earnings results, providing insight into the company’s continued road to recovery from the COVID-19 pandemic.

Starbucks provides financial report for Q3 Fiscal Year 2020 results

Key takeaways from Starbucks Q3 FY20 earnings results

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Starbucks Corporation (NASDAQ: SBUX) today reported financial results for its 13-week fiscal first quarter ended December 29, 2019.

Starbucks delivered a strong start to fiscal 2020, fueled by a healthy balance of comp sales growth and new store development, continued expansion of the Global Coffee Alliance and significant margin expansion.

Q1 Fiscal 2020 Highlights include:

The Starbucks executive team will share more details on Q1 earning during a call at 2pm PT. You can listen here: <a href="https://78449.themediaframe.com/dataconf/productusers/sbux/mediaframe/33692/indexl.html">Investor Relations</a>.

For more details on full Q1 earnings, visit: 

Starbucks announces record Q1 results - Starbucks Stories

Starbucks delivered a strong start to fiscal 2020, fueled by a healthy balance of comp sales growth and new store development, continued expansion of the Global Coffee Alliance.

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Starbucks announces record Q1 results

Q1 Comparable Store Sales Up 5% Globally, Led by 6% Comp Growth in the U.S. and 3% Comp Growth in China

Global Net Store Growth of 6% Versus Prior Year, Led by 16% Net Store Growth in China

GAAP EPS of $0.74; Non-GAAP EPS of $0.79

Active Starbucks® Rewards Membership in the U.S. Up 16% Year-Over-Year to 18.9 Million

SEATTLE – Starbucks Corporation (NASDAQ: SBUX) today reported financial results for its 13-week fiscal first quarter ended December&nbsp;29, 2019. GAAP results in fiscal 2020 and fiscal 2019 include items which 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.

“Building on solid business momentum from fiscal 2019, Starbucks performed very well throughout the first quarter, including one of the strongest holiday seasons in the history of our company. As a result, we are off to a strong start in fiscal 2020,” said Kevin Johnson, president and ceo. “Our growth was fueled by a healthy balance of comparable sales growth and new store development, as well as continued expansion of our Global Coffee Alliance with Nestlé.&nbsp; Investments in our partners, beverage innovation and digital customer relationships contributed not only to strong topline growth, but also significant margin expansion in the quarter.”

“Our partners are the center of creating a special Starbucks Experience for each and every customer we serve, and I am very grateful for their extraordinary efforts through this holiday quarter. As we begin our fiscal second quarter, I want to acknowledge the dynamic situation our partners in China are navigating as health officials respond to the coronavirus. As events unfold, we will be transparent with all stakeholders in communicating how we are responding to these extraordinary circumstances and the implications for our near-term business results. We remain optimistic and committed to the long-term opportunity in China, building on our brand heritage and 20-year legacy of profitable growth,” concluded Johnson.

PDF: <a href="https://stories.starbucks.com/uploads/2020/01/Starbucks-Q1-FY20-Earnings-Release.pdf">Detailed financial data</a>

Q1 Fiscal 2020 Highlights

Visit the&nbsp;<a href="https://investor.starbucks.com/ir-home/default.aspx">Investor Relations page on Starbucks.com</a>&nbsp;to access the&nbsp;<a href="https://78449.themediaframe.com/dataconf/productusers/sbux/mediaframe/33692/indexl.html">live audio webcast</a>.

Starbucks Reports Q1 Fiscal 2020 Results - Starbucks Stories

“Our growth was fueled by a healthy balance of comparable sales growth and new store development, as well as continued expansion of our Global Coffee Alliance with Nestlé," said Kevin Johnson.

https://stories.starbucks.com/press/2020/starbucks-reports-q1-fiscal-2020-results/

Starbucks Reports Q1 Fiscal 2020 Results

Starbucks Corporation (NASDAQ: SBUX) today reported financial results for its 13-week fiscal fourth quarter and 52-week fiscal year ended September&nbsp;29, 2019.

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Infographic: Starbucks Reports Q4 Fiscal 2019 Results - Starbucks Stories

Infographic: Starbucks Reports Q4 Fiscal 2019 Results

“I’m very pleased with our strong finish to fiscal 2019, as we sustained positive momentum across each of our business segments,” said Kevin Johnson, president and ceo.

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Q4 Comparable Store Sales Up 5% Globally, Led by 6% Comp Growth in the U.S. and 5% Comp Growth in China

Global Net Store Growth of 7% Versus Prior Year, Led by 17% Net Store Growth in China

GAAP EPS of $0.67; Non-GAAP EPS of $0.70, Up 13% Year-Over-Year

Active Starbucks® Rewards Membership in the U.S. Up 15% Year-Over-Year to 17.6 Million

Returned $12 Billion to Shareholders in Fiscal 2019; Announces Quarterly Dividend Increase of 14% to $0.41 Per Share

Introduces Fiscal 2020 Outlook Reaffirming Long-term Operating Growth Model

SEATTLE — Starbucks Corporation (NASDAQ: SBUX) today reported financial results for its 13-week fiscal fourth quarter and 52-week fiscal year ended September&nbsp;29, 2019. GAAP results in fiscal 2019 and fiscal 2018 include items which 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.

“I’m very pleased with our strong finish to fiscal 2019, as we sustained positive momentum across each of our business segments,” said Kevin Johnson, president and ceo.&nbsp;“Our U.S. business delivered 6% comparable store sales growth in the fourth quarter, while China grew comparable store sales by 5% and total transactions by 13%.&nbsp;Our strong performance throughout fiscal 2019 gives us confidence in a robust operating outlook for fiscal 2020.”

“We are making meaningful progress against our strategic priorities while streamlining the company, bringing more focus and discipline to everything we do. The investments we are making for the long term---in our partners, our stores, beverage innovation and digital---are collectively delivering an elevated Starbucks Experience, as evidenced by all-time-high customer connection scores in the fourth quarter.&nbsp;This long-term focus is instrumental to how we are building an enduring company,” concluded Johnson.

Q4 Fiscal 2019 Highlights

PDF: <a href="https://stories.starbucks.com/uploads/2019/10/Starbucks-FY19-Q4-Earnings-Release.pdf">Detailed financial data</a>

Full Year Fiscal 2019 Highlights

Fiscal 2019 Re-segmentation

In the fourth quarter of fiscal 2019, the company realigned its operating segment reporting structure to better reflect the cumulative effect of its streamlining efforts. Specifically, the previous China/Asia Pacific ("CAP") segment and Europe, Middle East, and Africa ("EMEA") segment have been combined into one International segment. The company will continue to provide supplemental information on its two lead growth markets, the U.S. and China, in its quarterly earnings news releases in accordance with its "Growth at Scale" agenda.

Concurrently, results of Siren Retail, a non-reportable operating segment consisting of Starbucks ReserveTM Roastery &amp; Tasting Rooms, Starbucks Reserve brand and Princi operations, which was previously included within Corporate and Other, is now reported within the Americas and International segments based on the geographical location of the operations.

Further, to better support the review of its results, the company changed the classification of certain costs. The most significant change was the reclassification of company-operated store occupancy costs from cost of sales to store operating expenses. The company also made certain other immaterial changes. These reclassifications have been retrospectively applied.

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

Concurrent with the change in reportable segments and reclassification of certain operating expenses noted above, the company revised its prior period financial information to be consistent with the current period presentation.

Restated GAAP and non-GAAP quarterly financial information for FY18 and FY19 (through fiscal Q3) can be found on the Supplemental Financial Data page of our Investor Relations website (<a href="http://investor.starbucks.com">http://investor.starbucks.com</a>).

Starbucks Reports Q4 and Full Year Fiscal 2019 Results - Starbucks Stories

Starbucks Reports Q4 and Full Year Fiscal 2019 Results

https://stories.starbucks.com/press/2019/starbucks-reports-q4-and-full-year-fiscal-2019-results/

Q3 Comparable Store Sales Up 6% Globally, Led by 7% Comp Growth in the U.S. and 6% Comp Growth in China

Global Net Store Growth of 7% Versus Prior Year, Led by 16% Net Store Growth in China

GAAP EPS of $1.12; Non-GAAP EPS of $0.78, Up 26% Year-Over-Year

Active Starbucks® Rewards Membership in the U.S. Increases 14% Year-Over-Year to 17.2 Million

SEATTLE – Starbucks Corporation (NASDAQ: SBUX) today reported financial results for its 13-week fiscal third quarter ended June&nbsp;30, 2019. GAAP results in fiscal 2019 and fiscal 2018 include items which 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.

“Starbucks delivered strong operating performance in the third quarter, further demonstrating that our ‘Growth at Scale’ agenda is working,” says Kevin Johnson, president and ceo. “Our two targeted long-term growth markets, the U.S. and&nbsp;China, performed extremely well across a number of measures as a result of our focus on enhancing the customer experience, driving new beverage innovation and accelerating the expansion of our digital customer relationships.&nbsp;Given the strong momentum across our business, we are raising our full-year financial outlook.”

“Starbucks continues to be focused and disciplined in the execution of our three key strategic priorities that we established last year: accelerating growth in the U.S. and China, expanding the global reach of the Starbucks brand through our Global Coffee Alliance with Nestlé, and increasing shareholder returns. With our efforts to streamline the company and elevate the Starbucks brand, we are positioning the company to deliver predictable and sustainable operating results while building an enduring company that creates meaningful long-term value for Starbucks shareholders,” concluded Johnson.

PDF: <a href="https://stories.starbucks.com/uploads/2019/07/Starbucks-FY19-Q3-Earnings-Release.pdf">Detailed financial data</a>

Q3 Fiscal 2019 Highlights

Visit the <a href="https://investor.starbucks.com/ir-home/default.aspx">Investor Relations page on Starbucks.com</a> to access the <a href="https://78449.themediaframe.com/dataconf/productusers/sbux/mediaframe/30667/indexl.html">live audio webcast</a>.

Starbucks Reports Q3 Fiscal 2019 Results - Starbucks Stories

“Starbucks delivered strong operating performance in the third quarter, further demonstrating that our ‘Growth at Scale’ agenda is working,” says Kevin Johnson, president and ceo.

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Starbucks Reports Q3 Fiscal 2019 Results

Q2 Comparable Store Sales Up 3% Globally, Driven by 4% Comp Growth in the U.S. and 3% Comp Growth in China

Global Net Store Growth of 7% Versus Prior Year, Led by 17% Net Store Growth in China

Global Retail Business Surpasses 30,000 Stores

GAAP EPS of $0.53; Non-GAAP EPS of $0.60, Up 13% Year-Over-Year

Active Starbucks® Rewards Membership in the U.S. Increases 13% Year-Over-Year to 16.8 Million

SEATTLE – Starbucks Corporation (NASDAQ: SBUX) today reported financial results for its 13-week fiscal second quarter ended March 31, 2019. GAAP results in fiscal 2019 and fiscal 2018 include items which 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.

“Starbucks delivered another quarter of solid operating results, demonstrating that our 'Growth at Scale' agenda is working,” said&nbsp;Kevin Johnson, president and ceo.&nbsp;“We are especially&nbsp;pleased with our comparable store sales growth in our two lead markets, the U.S. and China, where we are also continuing to drive strong new store development with industry-leading returns.&nbsp;With solid first-half financial results, we are on track to deliver on our full-year commitments.”

“Starbucks remains focused and disciplined in the execution of our three key strategic priorities: accelerating growth in our targeted markets of the U.S. and China, expanding the global reach of the Starbucks brand through our Global Coffee Alliance with Nestlé, and increasing shareholder returns. With our efforts to streamline the company and elevate the Starbucks brand, we are not only positioning the company to deliver more predictable and sustainable operating results but are also building Starbucks to be an enduring company that creates meaningful value for shareholders for decades to come,” concluded Johnson.

PDF: <a href="https://stories.starbucks.com/uploads/2019/04/Starbucks-Q2-FY19-Earnings-Release.pdf">Detailed financial data</a>

Q2 Fiscal 2019 Highlights

Visit the&nbsp;<a href="https://investor.starbucks.com/ir-home/default.aspx">Investor Relations page on Starbucks.com</a>&nbsp;to access the&nbsp;<a href="https://78449.themediaframe.com/dataconf/productusers/sbux/mediaframe/26147/indexl.html">live audio webcast</a>.

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Starbucks Reports Q2 Fiscal 2019 Results - Starbucks Stories

“Starbucks delivered another quarter of solid operating results, demonstrating that our 'Growth at Scale' agenda is working,” said Kevin Johnson, president and ceo.

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Starbucks Reports Q2 Fiscal 2019 Results

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