SEATTLE – Starbucks Corporation (Nasdaq: SBUX) today reported financial results for its 13-week fiscal first quarter ended January 1, 2023.

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For the full press release, please visit our Investor Relations site <a href="https://investor.starbucks.com/files/doc_financials/2023/q1/1Q23-Earnings-Release-Final-(2.2).pdf" target="_blank" rel="noreferrer noopener">here</a>.

“Starbucks performance in Q1 demonstrates the strength and resilience of our business and accelerating demand for Starbucks Coffee all around the world,” said Howard Schultz, interim ceo. “We posted today’s strong results despite challenging global consumer and inflationary environments, a soft quarter for retail overall and the unprecedented, COVID-related headwinds that unfolded in China in Q1,” Schultz added.

“I am very proud of what we achieved in Q1, with nearly every business segment contributing to our strong performance,” commented Rachel Ruggeri, chief financial officer. “And I’m pleased to share that our fiscal 2023 guidance remains unchanged, despite the headwinds from China,” Ruggeri added.

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Starbucks Corporation (Nasdaq: SBUX) today reported financial results for its 13-week fiscal first quarter ended January 1, 2023.

Starbucks Reports Q1 Fiscal 2023 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 Corporation (NASDAQ: SBUX) today reported financial results for its 13-week fiscal first quarter ended April 3, 2022.

For the full press release, please visit our Investor Relations site&nbsp;<a href="https://s22.q4cdn.com/869488222/files/doc_financials/2022/q2/Q2-FY22-Earnings-Release-5_3_2022-Final.pdf" target="_blank" rel="noreferrer noopener">here</a>.

“We are single-mindedly focused on enhancing our core U.S. business through our partner, customer and store experiences. Given record demand and changes in customer behavior we are accelerating our store growth plans, primarily adding high-returning drive-thrus, and accelerating renovation programs so we can better meet demand and serve our customers where they are,” said Howard Schultz, interim chief executive officer. “The investments we are making in our people and the company will add the capacity we need in our U.S. stores today and position us ahead of the coming growth curve ahead,” Schultz added.

“We are confident that the investments in our partners, our stores and our brand that we announced today will deliver returns in excess of historic levels and accelerate our growth long into the future,” commented Rachel Ruggeri, chief financial officer.

“The investments we are making in our people and the company will add the capacity we need in our U.S. stores today and position us ahead of the coming growth curve ahead,” Schultz added.

Starbucks Reports Q2 Fiscal 2022 Results

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Starbucks today reported its Q1 FY22 earnings results and shared insights into its quarterly performance as it delivered strong, record first quarter revenue growth while navigating significant disruptions brought on by the COVID-19 Omicron variant.

“This holiday quarter delivered strong revenue growth highlighted by incredible customer demand for Starbucks. As we enter the third year of this pandemic, our stores continue to play an important role as a community gathering place that offers safe, familiar, and convenient experiences for our customers. Although demand was strong, this pandemic has not been linear and the macro environment remains dynamic as we experienced higher-than-expected inflationary pressures, increased costs due to Omicron, and a tight labor market. We remain focused on actions that drive both top and bottom-line growth, including industry-leading investments to attract, train and retain the best talent for our stores as customer occasions increase,” said Kevin Johnson, president and ceo.

“Starbucks will proactively address the industry challenges and operating environment, as we continue to focus on our partners and customers. Our brand is stronger and more resilient than ever, and we remain confident in the long-term outlook as we navigate the future of Starbucks together,” concluded Johnson.

Key Takeaways

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Global consumer demand for Starbucks is strong.

Starbucks delivered record first quarter revenue of $8.1B, representing 19% growth, while global same-store sales grew 13%, demonstrating strong customer affinity for Starbucks.

In the U.S., same store sales grew 18% year over year with the company reporting a double-digit increase in customer traffic and an increase in customer demand throughout all dayparts. This was driven by the company’s holiday lineup and strong in-store and digital customer connection throughout the season, which also resulted in record Starbucks Card activations and reloads. Starbucks Rewards loyalty program membership grew 21% to a record 26.4 million 90-day active members.

Starbucks continued to grow its footprint in China in Q1, surpassing 5,500 stores with new stores continuing to perform well. The company is encouraged by the performance and growth in its digital platforms in the market, where digital ordering grew to a record 38% of sales, and 90-day active Starbucks Rewards members reached nearly 18 million with members contributing 75% of sales. Starbucks Continues to Prioritize Health and Safety of Partners and Customers

Since the beginning of the pandemic, Starbucks has prioritized the health and wellness of our partners and customers and playing a constructive role in supporting local health officials and government leaders.

In the U.S., throughout Q1, Starbucks continued to offer COVID-19 vaccination pay, which has supported thousands of partners and broader efforts in helping get more people vaccinated. With the rise of the highly transmissible Omicron variant, the company saw more partners leverage isolation pay benefits as they were either home sick or home isolating after being exposed to the virus, which led to significantly higher COVID-19-related benefits pay than expected. Starbucks offers full support with comprehensive care to our partners impacted by COVID-19, including vaccine pay, catastrophe pay, mental health and sick pay benefits, childcare support and more.

In China, the company navigated mobility restrictions in adherence with the country’s “zero-COVID” policy, and the market experienced closures, dynamic store protocols, or reduced operations in three- quarters of stores in China exiting Q1.

Company Continues to Strategically Navigate Disruptions from the Omicron Variant

While the company reported growth in the quarter, Starbucks leaders shared additional details on the extraordinary cost pressure experienced due to additional disruptions caused by the Omicron variant, resulting in higher than anticipated costs across its U.S. and China business as stores quickly adapted protocols.

Like many others in the industry, Starbucks experienced a rapid increase in supply chain costs in the U.S. related to distribution and transportation driven by supply chain staffing shortages. This required the company to identify more expensive alternatives to meet strong customer demand. While supply chain driven inflationary costs were unexpectedly amplified and rapidly accelerated in December, these disruptions are expected to continue for the foreseeable future.

Starbucks also reported higher than anticipated costs from training and onboarding new green apron partners, a critical investment as the company works to create a great Starbucks Experience. The company remains confident that the previously announced $1B investment in partner wages and hours is the right long-term investment to ensure it has the very best talent in place to support its business.

The company believes these are near-term challenges and is taking necessary measures to offset these expenditures, including reducing discretionary spend, implementing operational efficiencies throughout the organization, and taking additional pricing actions planned through the balance of the year to mitigate cost pressures, including inflation as it looks to position its business for the future.

Starbucks remains confident in the company’s ability to rapidly adapt while continuing to drive longer-term agenda of share gains, growth and value creation. Leadership emphasized the tremendous opportunity for continued growth, as highlighted by robust revenue results and reiterated confidence that the Starbucks brand is stronger and more resilient than ever.

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Key Takeaways from Starbucks Q1 FY22 Earnings Call - Starbucks Stories

Key Takeaways from Starbucks Q1 FY22 Earnings Call

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Starbucks Corporation (NASDAQ: SBUX) today reported financial results for its 13-week fiscal first quarter ended January&nbsp;2, 2022. 

For the full press release, please visit our Investor Relations site <a rel="noreferrer noopener" href="https://s22.q4cdn.com/869488222/files/doc_financials/2022/q1/Q1-FY22-Earnings-Release_2-1-22_Final.pdf" target="_blank">here</a>.

“This holiday quarter delivered strong revenue growth highlighted by incredible customer demand for Starbucks. As we enter the third year of this pandemic, our stores continue to play an important role as a community gathering place that offers safe, familiar and convenient experiences for our customers. Although demand was strong, this pandemic has not been linear, and the macro environment remains dynamic as we experienced higher-than-expected inflationary pressures, increased costs due to Omicron and a tight labor market. We remain focused on actions that drive both top and bottom-line growth, including industry-leading investments to attract, train and retain the best talent for our stores as customer occasions increase,” said Kevin Johnson, president and ceo.

Starbucks today reported financial results for its 13-week fiscal first quarter ended January 2, 2022.

Starbucks Reports Q1 Fiscal 2022 Results

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Starbucks today announced record-breaking Q4 FY21 earnings results, sharing insights into the company’s performance and as well as outlining steps being taken to position the company for continued growth into the future.

“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.

Full details on Starbucks financial results can be found <a href="https://stories.starbucks.com/press/2021/starbucks-reports-q4-and-full-year-fiscal-2021-results/">here</a>.

Starbuck is Investing in Partners: Yesterday, Starbucks <a href="https://stories.starbucks.com/press/2021/starbucks-makes-historic-investments-in-its-partners/">announced a historic investment</a> in its store partners, building on the company’s belief that success is best when shared and is good for business over the long term. As part of the announcement, the company shared that effective in January 2022, retail partners with two or more years of service could receive up to a 5% raise while retail partners with five or more years could receive up to a 10% raise. Additionally, in Summer 2022, average pay for all U.S. hourly retail partners will be nearly $17/hr., with baristas hourly rates to range based on market and tenure from $15 to $23/ hr. across the country. To continue to build a great and enduring company and strengthen the global brand, Starbucks continues to invest ahead of the growth curve. Not just in wages, but in training and technology, and the overall Starbucks Experience for both partners and customers.

Company’s “Growth at Scale” Agenda Drives Continued Recovery: Starbucks recovery in the U.S. continued with the company reporting sequential improvement of two-year comp growth to 11%, with comps accelerating throughout the quarter and marking the second quarter of double digit two-year comps in the U.S. Starbucks momentum in the U.S. continues to be fueled by its “Growth at Scale” agenda, which focuses on elevating the customer experience, beverage innovation and digital customer engagement – a strategy that continues to pay off for the company.

Globally, the company reported that Q4 comparable store sales were up 17%, driven by a 15% increase in comparable transactions and a 2% increase in average ticket. The company extended its market leadership position in China, and while pandemic related disruptions in Q4 affected the majority of stores at its peak and impacted recovery momentum, Starbucks China grew revenue 11% year-over-year. Company Deepens Digital Engagement Globally: Starbucks continues to build and leverage its technology-first, mobile and digital capabilities and accelerate growth in active membership in the Starbucks Rewards loyalty program, fueling the company for the long-term. In China, 90-day active Starbucks Rewards members grew to a record 17.9M, while in the U.S. reported a 90-day active member base of nearly 25M, up 28% versus the prior year. In the U.S., Starbucks Rewards members drove 51% of company-operated sales.

Cultivating direct digital relationships with customers continues to be a focus for the company and Starbucks Rewards program enhancements such as ‘Stars for Everyone’ are helping expand reach. The company also alluded to future enhancements designed to provide personalized experiences while the company looks to remain at the forefront of disruptive innovation in loyalty that will unfold over the next few years.

Focus on Elevated Customer Experiences Continues: As consumer mobility increases, Starbucks continues to adapt to stay ahead of evolving customer trends. The company outlined a rich pipeline of innovation to elevate the Starbucks Experience in retail stores and drive convenience for partners and customers, including the roll-out of the new Mastrena II espresso machines that more efficiently pulls triple-shots of high-quality espresso; Deep Brew artificial intelligence platform that has automated daily inventory management; and store staffing and training improvements designed to reduce complexity in stores.

Additionally, the company shared that it has repositioned 500 stores in the U.S., as planned, to better locations with more favorable economics, while expanding its portfolio of convenience formats to meet customer needs. In China, Starbucks expanded its store footprint, opening 225 net new stores in the quarter, and now boasts 5,360 stores in 208 cities in the country. In FY21, Starbucks opened approximately 1,200 net new stores, ending the fiscal year with a record 33,833 stores globally.

Company Sees Positive Signs Globally: With more than 33,000 stores in 84 markets, Starbucks is able to provide a unique perspective on the global recovery from the pandemic. The company reported continued recovery globally where Latin America grew system sales by 113% in Q4 driven by a strong recovery in Mexico, EMEA posted system sales growth of 52% in the quarter and Japan navigated through a challenging quarter turning the corner towards renewed growth. Starbucks sees positive signs in many other markets as well, reinforcing the company’s belief that pandemic-related headwinds are temporary.

In addition, Starbucks strategic channel partnerships with the North American Coffee Partnership with PepsiCo and the Global Coffee Alliance with Nestle remain on-plan, and have propelled Starbucks to number one share positions in the U.S. and throughout many other markets around the world, further underscoring the strength and resilience of the Starbucks brand and illuminating the decades long runway of growth ahead.

A Preview of What’s Ahead: Starbucks is entering fiscal 2022 with strong customer demand and solid momentum in our U.S. business, an expanding and accelerating in-store, channels and digital flywheel, and green apron partners eager to deliver an elevated Starbucks Experience to their customers.

Today, Starbucks also introduced guidance for fiscal 2022 including:

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As Starbucks enters the new fiscal year, the company is gearing up for a record-breaking holiday, with strong growth planned around the world and a holiday campaign designed to build genuine human connection as only Starbucks can at a time when human connection is more important than ever.

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Key takeaways from Starbucks Q4 FY21 earnings results

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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

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.

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

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>

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(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.

“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

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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.

“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

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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.

“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.

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>.

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"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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Starbucks earnings results

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