Return to Financial Releases 11/03/22 Q4 Consolidated Net Revenues Up 3%; Up 11% on a 13-week basis to a Record $8.4 Billion Q4 Comparable Store Sales Up 7% Globally; Up 11% in the U.S. and Double Digits Internationally, excluding China Q4 GAAP EPS $0.76; Non-GAAP EPS of $0.81 Driven by Strong September Performance; Reinvention Materializing China Surpasses 6,000 Stores, Pushing Global Store Count to Record 35,711 Active Starbucks® Rewards Membership Up 16% in the U.S. in Q4 to 28.7 Million Members SEATTLE--(BUSINESS WIRE)--Starbucks Corporation (Nasdaq: SBUX) today reported financial results for its 13-week fiscal fourth quarter and 52-week fiscal year ended October 2, 2022. The comparable prior-year periods in fiscal 2021 included 14- and 53-weeks, respectively. GAAP results in fiscal 2022 and fiscal 2021 include items that are excluded from non-GAAP results. Please refer to the reconciliation of GAAP measures to non-GAAP measures at the end of this release for more information. Q4 Fiscal 2022 Highlights Full Year Fiscal 2022 Highlights “We saw accelerating demand for Starbucks coffee around the world in Q4 and throughout the year,” said Howard Schultz, interim chief executive officer. “And our Q4 results demonstrate early evidence of the success of our U.S. Reinvention investments. Reinvention will touch, and elevate, every aspect of our Starbucks partner, customer and store experiences, and ideally position Starbucks to deliver accelerated, sustainable, long-term, profitable growth and value creation beginning in 2023,” Schultz added. “We are incredibly proud of our Q4 performance, and our 2023 guidance sets the stage for another year of record performance,” commented Rachel Ruggeri, chief financial officer. Q4 North America Segment Results Quarter Ended ($ in millions) Oct 2, 2022 Oct 3, 2021 (13 Weeks Ended) (14 Weeks Ended) Change (%) Change in Comparable Store Sales (1) 11% 22% Change in Transactions 1% 18% Change in Ticket 10% 3% Store Count 17,295 16,826 3% Revenues $6,134.4 $5,763.0 6% Operating Income $1,141.8 $1,255.8 (9)% Operating Margin 18.6% 21.8% (320) bps (1) Includes only Starbucks® company-operated stores open 13 months or longer. Comparable store sales exclude the effects of fluctuations in foreign currency exchange rates and Siren Retail stores. Stores that are temporarily closed or operating at reduced hours due to the COVID-19 pandemic remain in comparable store sales while stores identified for permanent closure have been removed. Net revenues for the North America segment grew 6% (15% on a 13-week basis) over Q4 FY21 to $6.1 billion in Q4 FY22, primarily driven by an 11% increase in company-operated comparable store sales, driven by a 10% increase in average ticket and a 1% increase in transactions, net new store growth of 3% over the past 12 months and strength in our licensed store sales. These increases were partially offset by the impact of the extra week in fiscal 2021. Operating income decreased to $1.1 billion in Q4 FY22 compared to $1.3 billion in Q4 FY21. Operating margin of 18.6% contracted from 21.8% in the prior year, primarily driven by investments and growth in labor including enhanced store partner wages as well as increased spend on new partner training, coupled with higher commodity and supply chain costs due to inflationary pressures. This contraction was partially offset by strategic pricing and sales leverage. Q4 International Segment Results Quarter Ended ($ in millions) Oct 2, 2022 Oct 3, 2021 (13 Weeks Ended) (14 Weeks Ended) Change (%) Change in Comparable Store Sales (1) (5)% 3% Change in Transactions (5)% 6% Change in Ticket (1)% (2)% Store Count 18,416 17,007 8% Revenues $1,777.0 $1,914.6 (7)% Operating Income $217.6 $377.4 (42)% Operating Margin 12.2% 19.7% (750) bps (1) Includes only Starbucks® company-operated stores open 13 months or longer. Comparable store sales exclude the effects of fluctuations in foreign currency exchange rates and Siren Retail stores. Stores that are temporarily closed or operating at reduced hours due to the COVID-19 pandemic remain in comparable store sales while stores identified for permanent closure have been removed. Net revenues for the International segment declined 7% (1% lower on a 13-week basis) over Q4 FY21 to $1.8 billion in Q4 FY22, primarily driven by an 11% unfavorable impact from foreign currency translation, the impact of the extra week in fiscal 2021, as well as a 5% decline in comparable store sales, primarily attributable to COVID-19 related restrictions in China. These decreases were partially offset by growth in our licensed store revenue including higher product sales, royalty revenues and the conversion of the Korea market from a joint venture to a fully licensed market in Q4 FY21, as well as net new store growth of 8% over the past 12 months. Operating income decreased to $217.6 million in Q4 FY22 compared to $377.4 million in Q4 FY21. Operating margin of 12.2% contracted from 19.7% in the prior year, primarily driven by sales deleverage related to COVID-19 restrictions in China, lower government subsidies as well as investments in store partners. This contraction was partially offset by strategic pricing and sales leverage across markets outside of China. Q4 Channel Development Segment Results Quarter Ended ($ in millions) Oct 2, 2022 Oct 3, 2021 (13 Weeks Ended) (14 Weeks Ended) Change (%) Revenues $483.7 $438.3 10% Operating Income $244.6 $219.8 11% Operating Margin 50.6% 50.1% 50 bps Net revenues for the Channel Development segment grew 10% (16% on a 13-week basis) over Q4 FY21 to $483.7 million in Q4 FY22, driven by growth in the Global Coffee Alliance and global ready-to-drink business, partially offset by the extra week in Q4 FY21. Operating income increased to $244.6 million in Q4 FY22 compared to $219.8 million in Q4 FY21. Operating margin of 50.6% expanded from 50.1% in the prior year, primarily due to business mix shift. Fiscal 2023 Financial Targets The company will discuss fiscal year 2023 financial targets, originally introduced at Starbucks 2022 Investor Day, during its Q4 FY22 and Full Year earnings conference call starting today at 2:00 p.m. Pacific Time. These items can be accessed on the company's Investor Relations website during and after the call. The company uses its website as a tool to disclose important information about the company and comply with its disclosure obligations under Regulation Fair Disclosure. Company Updates Conference Call Starbucks will hold a conference call today at 2:00 p.m. Pacific Time, which will be hosted by Howard Schultz, interim ceo, and other members of Starbucks executive leadership team. The call will be webcast and can be accessed at http://investor.starbucks.com. A replay of the webcast will be available until end of day Friday, December 2, 2022. About Starbucks Since 1971, Starbucks Coffee Company has been committed to ethically sourcing and roasting high-quality arabica coffee. Today, with more than 35,000 stores worldwide, the company is the premier roaster and retailer of specialty coffee in the world. Through our unwavering commitment to excellence and our guiding principles, we bring the unique Starbucks Experience to life for every customer through every cup. To share in the experience, please visit us in our stores or online at stories.starbucks.com or www.starbucks.com. Forward-Looking Statements Certain statements contained herein and in our investor conference call related to these results are “forward-looking” statements within the meaning of applicable securities laws and regulations. Generally, these statements can be identified by the use of words such as “aim,” “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “feel,” “forecast,” “intend,” “may,” “outlook,” “plan,” “potential,” “predict,” “project,” “seek,” “should,” “will,” “would,” and similar expressions intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. These statements include statements relating to trends in or expectations relating to the effects of our existing and any future initiatives, strategies, investments and plans, including our Reinvention plan, as well as trends in or expectations regarding our financial results and long-term growth model and drivers; our operations in the U.S. and China; our environmental, social and governance efforts; our partners; economic and consumer trends, including the impact of inflationary pressures; impact of foreign currency translation; pricing actions; the conversion of certain market operations to fully licensed models; our plans for our operations; our relationship and transactions with Nestlé, including our anticipated sale of Seattle's Best Coffee brand to Nestlé; tax rates; business opportunities, expansions and new initiatives, including Starbucks Odyssey; strategic acquisitions; our dividends programs; commodity costs and our mitigation strategies; our liquidity, cash flow from operations, investments, borrowing capacity and use of proceeds; continuing compliance with our covenants under our credit facilities and commercial paper program; repatriation of cash to the U.S.; the likelihood of the issuance of additional debt and the applicable interest rate; the continuing impact of the COVID-19 pandemic on our financial results and future availability of governmental subsidies for COVID-19 or other public health events; our ceo transition; our share repurchase program; our use of cash and cash requirements; the expected effects of new accounting pronouncements and the estimated impact of changes in U.S. tax law, including on tax rates, investments funded by these changes and potential outcomes; and effects of legal proceedings. Such statements are based on currently available operating, financial and competitive information and are subject to various risks and uncertainties. Actual future results and trends may differ materially depending on a variety of factors, including, but not limited to: the continuing impact of COVID-19 on our business; regulatory measures or voluntary actions that may be put in place to limit the spread of COVID-19, including restrictions on business operations or social distancing requirements, and the duration and efficacy of such restrictions; the resurgence of COVID-19 infections and the circulation of novel variants of COVID-19; fluctuations in U.S. and international economies and currencies; our ability to preserve, grow and leverage our brands; the ability of our business partners and third-party providers to fulfill their responsibilities and commitments; potential negative effects of incidents involving food or beverage-borne illnesses, tampering, adulteration, contamination or mislabeling; potential negative effects of material breaches of our information technology systems to the extent we experience a material breach; material failures of our information technology systems; costs associated with, and the successful execution of, the company’s initiatives and plans; new initiatives and plans or revisions to existing initiatives or plans; our ability to obtain financing on acceptable terms; the acceptance of the company’s products by our customers, evolving consumer preferences and tastes and changes in consumer spending behavior; partner investments, changes in the availability and cost of labor including any union organizing efforts and our responses to such efforts; failure to attract or retain key executive or employee talent or successfully transition executives; significant increased logistics costs; inflationary pressures; the impact of competition; inherent risks of operating a global business including any potential negative effects stemming from the Russian invasion of Ukraine; the prices and availability of coffee, dairy and other raw materials; the effect of legal proceedings; and the effects of changes in tax laws and related guidance and regulations that may be implemented, including the Inflation Reduction Act of 2022 and other risks detailed in our filings with the Securities and Exchange Commission, including in the “Risk Factors” and “Management's Discussion and Analysis of Financial Condition and Results of Operations” sections of the company’s most recently filed periodic reports on Form 10-K and Form 10-Q and subsequent filings. A forward-looking statement is neither a prediction nor a guarantee of future events or circumstances, and those future events or circumstances may not occur. You should not place undue reliance on the forward-looking statements, which speak only as of the date of this release. We are under no obligation to update or alter any forward-looking statements, whether as a result of new information, future events or otherwise. Key Metrics The company's financial results and long-term growth model will continue to be driven by new store openings, comparable store sales growth and operating margin management. We believe these key operating metrics are useful to investors because management uses these metrics to assess the growth of our business and the effectiveness of our marketing and operational strategies. STARBUCKS CORPORATION CONSOLIDATED STATEMENTS OF EARNINGS (unaudited, in millions, except per share data) Quarter Ended Quarter Ended Oct 2, Oct 3, % Oct 2, Oct 3, 2022 2021 2022 2021 (13 Weeks Ended) (14 Weeks Ended) As a % of total net revenues Net revenues: Company-operated stores $ 6,901.4 $ 6,864.3 0.5 % 82.0 % 84.3 % Licensed stores 998.4 794.5 25.7 11.9 9.8 Other 514.4 487.9 5.4 6.1 6.0 Total net revenues 8,414.2 8,146.7 3.3 100.0 100.0 Product and distribution costs 2,711.0 2,491.1 8.8 32.2 30.6 Store operating expenses 3,544.7 3,273.4 8.3 42.1 40.2 Other operating expenses 123.1 108.6 13.4 1.5 1.3 Depreciation and amortization expenses 357.4 354.7 0.8 4.2 4.4 General and administrative expenses 538.0 501.2 7.3 6.4 6.2 Restructuring and impairments 35.1 55.5 (36.8 ) 0.4 0.7 Total operating expenses 7,309.3 6,784.5 7.7 86.9 83.3 Income from equity investees 90.6 120.0 (24.5 ) 1.1 1.5 Operating income 1,195.5 1,482.2 (19.3 ) 14.2 18.2 Net gain resulting from divestiture of certain operations — 864.5 nm — 10.6 Interest income and other, net 31.0 21.5 44.2 0.4 0.3 Interest expense (125.3 ) (120.6 ) 3.9 (1.5 ) (1.5 ) Earnings before income taxes 1,101.2 2,247.6 (51.0 ) 13.1 27.6 Income tax expense 222.7 483.0 (53.9 ) 2.6 5.9 Net earnings including noncontrolling interests 878.5 1,764.6 (50.2 ) 10.4 21.7 Net earnings attributable to noncontrolling interests 0.2 0.2 0.0 0.0 0.0 Net earnings attributable to Starbucks $ 878.3 $ 1,764.4 (50.2 ) 10.4 % 21.7 % Net earnings per common share - diluted $ 0.76 $ 1.49 (49.0 )% Weighted avg. shares outstanding - diluted 1,152.5 1,187.9 Cash dividends declared per share $ 0.53 $ 0.49 Supplemental Ratios: Store operating expenses as a % of company-operated store revenues 51.4 % 47.7 % Effective tax rate including noncontrolling interests 20.2 % 21.5 % Year Ended Year Ended Oct 2, Oct 3, % Oct 2, Oct 3, 2022 2021 2022 2021 (52 Weeks Ended) (53 Weeks Ended) As a % of total net revenues Net revenues: Company-operated stores $ 26,576.1 $ 24,607.0 8.0 % 82.4 % 84.7 % Licensed stores 3,655.5 2,683.6 36.2 11.3 9.2 Other 2,018.7 1,770.0 14.1 6.3 6.1 Total net revenues 32,250.3 29,060.6 11.0 100.0 100.0 Product and distribution costs 10,317.4 8,738.7 18.1 32.0 30.1 Store operating expenses 13,561.8 11,930.9 13.7 42.1 41.1 Other operating expenses 461.5 359.5 28.4 1.4 1.2 Depreciation and amortization expenses 1,447.9 1,441.7 0.4 4.5 5.0 General and administrative expenses 2,032.0 1,932.6 5.1 6.3 6.7 Restructuring and impairments 46.0 170.4 (73.0 ) 0.1 0.6 Total operating expenses 27,866.6 24,573.8 13.4 86.4 84.6 Income from equity investees 234.1 385.3 (39.2 ) 0.7 1.3 Operating income 4,617.8 4,872.1 (5.2 ) 14.3 16.8 Net gain resulting from divestiture of certain operations — 864.5 nm — 3.0 Interest income and other, net 97.0 90.1 7.7 0.3 0.3 Interest expense (482.9 ) (469.8 ) 2.8 (1.5 ) (1.6 ) Earnings before income taxes 4,231.9 5,356.9 (21.0 ) 13.1 18.4 Income tax expense 948.5 1,156.6 (18.0 ) 2.9 4.0 Net earnings including noncontrolling interests 3,283.4 4,200.3 (21.8 ) 10.2 14.5 Net earnings attributable to noncontrolling interests 1.8 1.0 80.0 0.0 0.0 Net earnings attributable to Starbucks $ 3,281.6 $ 4,199.3 (21.9 ) 10.2 % 14.5 % Net earnings per common share - diluted $ 2.83 $ 3.54 (20.1 )% Weighted avg. shares outstanding - diluted 1,158.5 1,185.5 Cash dividends declared per share $ 2.00 $ 2.29 Supplemental Ratios: Store operating expenses as a % of company-operated store revenues 51.0 % 48.5 % Effective tax rate including noncontrolling interests 22.4 % 21.6 % Segment Results (in millions) North America Oct 2, Oct 3, % Oct 2, Oct 3, 2022 2021 2022 2021 Quarter Ended (13 Weeks Ended) (14 Weeks Ended) As a % of North America Net revenues: Company-operated stores $ 5,550.5 $ 5,254.3 5.6 % 90.5 % 91.2 % Licensed stores 583.4 506.5 15.2 9.5 8.8 Other 0.5 2.2 (77.3 ) 0.0 0.0 Total net revenues 6,134.4 5,763.0 6.4 100.0 100.0 Product and distribution costs 1,770.6 1,580.3 12.0 28.9 27.4 Store operating expenses 2,862.2 2,570.8 11.3 46.7 44.6 Other operating expenses 51.4 47.3 8.7 0.8 0.8 Depreciation and amortization expenses 205.2 189.9 8.1 3.3 3.3 General and administrative expenses 78.8 78.4 0.5 1.3 1.4 Restructuring and impairments 24.4 40.5 (39.8 ) 0.4 0.7 Total operating expenses 4,992.6 4,507.2 10.8 81.4 78.2 Operating income $ 1,141.8 $ 1,255.8 (9.1 )% 18.6 % 21.8 % Supplemental Ratio: Store operating expenses as a % of company-operated store revenues 51.6 % 48.9 % Oct 2, Oct 3, % Oct 2, Oct 3, 2022 2021 2022 2021 Year Ended (52 Weeks Ended) (53 Weeks Ended) As a % of North America Net revenues: Company-operated stores $ 21,214.2 $ 18,737.3 13.2 % 90.8 % 91.6 % Licensed stores 2,150.5 1,702.2 26.3 9.2 8.3 Other 6.1 8.4 (27.4 ) 0.0 0.0 Total net revenues 23,370.8 20,447.9 14.3 100.0 100.0 Product and distribution costs 6,677.2 5,453.8 22.4 28.6 26.7 Store operating expenses 10,860.0 9,359.5 16.0 46.5 45.8 Other operating expenses 202.1 166.0 21.7 0.9 0.8 Depreciation and amortization expenses 808.4 753.9 7.2 3.5 3.7 General and administrative expenses 303.3 300.0 1.1 1.3 1.5 Restructuring and impairments 33.3 155.4 (78.6 ) 0.1 0.8 Total operating expenses 18,884.3 16,188.6 16.7 80.8 79.2 Operating income $ 4,486.5 $ 4,259.3 5.3 % 19.2 % 20.8 % Supplemental Ratio: Store operating expenses as a % of company-operated store revenues 51.2 % 50.0 % International Oct 2, Oct 3, % Oct 2, Oct 3, 2022 2021 2022 2021 Quarter Ended (13 Weeks Ended) (14 Weeks Ended) As a % of International Net revenues: Company-operated stores $ 1,350.9 $ 1,610.0 (16.1 )% 76.0 % 84.1 % Licensed stores 415.0 288.0 44.1 23.4 15.0 Other 11.1 16.6 (33.1 ) 0.6 0.9 Total net revenues 1,777.0 1,914.6 (7.2 ) 100.0 100.0 Product and distribution costs 611.0 605.1 1.0 34.4 31.6 Store operating expenses 682.5 702.6 (2.9 ) 38.4 36.7 Other operating expenses 52.4 39.8 31.7 2.9 2.1 Depreciation and amortization expenses 121.5 131.6 (7.7 ) 6.8 6.9 General and administrative expenses 92.6 98.4 (5.9 ) 5.2 5.1 Total operating expenses 1,560.0 1,577.5 (1.1 ) 87.8 82.4 Income from equity investees 0.6 40.3 (98.5 ) 0.0 2.1 Operating income $ 217.6 $ 377.4 (42.3 )% 12.2 % 19.7 % Supplemental Ratio: Store operating expenses as a % of company-operated store revenues 50.5 % 43.6 % Oct 2, Oct 3, % Oct 2, Oct 3, 2022 2021 2022 2021 Year Ended (52 Weeks Ended) (53 Weeks Ended) As a % of International Net revenues: Company-operated stores $ 5,361.9 $ 5,869.7 (8.7 )% 77.3 % 84.8 % Licensed stores 1,505.0 981.4 53.4 21.7 14.2 Other 73.2 70.5 3.8 1.1 1.0 Total net revenues 6,940.1 6,921.6 0.3 100.0 100.0 Product and distribution costs 2,357.7 2,187.3 7.8 34.0 31.6 Store operating expenses 2,701.8 2,571.4 5.1 38.9 37.2 Other operating expenses 191.4 147.3 29.9 2.8 2.1 Depreciation and amortization expenses 513.0 544.7 (5.8 ) 7.4 7.9 General and administrative expenses 345.3 360.5 (4.2 ) 5.0 5.2 Total operating expenses 6,109.2 5,811.2 5.1 88.0 84.0 Income from equity investees 2.3 135.3 (98.3 ) 0.0 2.0 Operating income $ 833.2 $ 1,245.7 (33.1 )% 12.0 % 18.0 % Supplemental Ratio: Store operating expenses as a % of company-operated store revenues 50.4 % 43.8 % Channel Development Oct 2, Oct 3, % Oct 2, Oct 3, 2022 2021 2022 2021 Quarter Ended (13 Weeks Ended) (14 Weeks Ended) As a % of Net revenues: $ 483.7 $ 438.3 10.4 % Product and distribution costs 309.0 277.5 11.4 63.9 % 63.3 % Other operating expenses 16.0 17.0 (5.9 ) 3.3 3.9 Depreciation and amortization expenses — 0.3 nm — 0.1 General and administrative expenses 4.1 3.4 20.6 0.8 0.8 Total operating expenses 329.1 298.2 10.4 68.0 68.0 Income from equity investees 90.0 79.7 12.9 18.6 18.2 Operating income $ 244.6 $ 219.8 11.3 % 50.6 % 50.1 % Oct 2, Oct 3, % Oct 2, Oct 3, 2022 2021 2022 2021 Year Ended (52 Weeks Ended) (53 Weeks Ended) As a % of Net revenues $ 1,843.6 $ 1,593.6 15.7 % Product and distribution costs 1,194.2 1,011.2 18.1 64.8 % 63.5 % Other operating expenses 51.6 31.3 64.9 2.8 2.0 Depreciation and amortization expenses 0.1 1.2 (91.7 ) 0.0 0.1 General and administrative expenses 12.2 10.8 13.0 0.7 0.7 Total operating expenses 1,258.1 1,054.5 19.3 68.2 66.2 Income from equity investees 231.8 250.0 (7.3 ) 12.6 15.7 Operating income $ 817.3 $ 789.1 3.6 % 44.3 % 49.5 % Corporate and Other Oct 2, Oct 3, % 2022 2021 Quarter Ended (13 Weeks Ended) (14 Weeks Ended) Net revenues $ 19.1 $ 30.8 (38.0 )% Product and distribution costs 20.4 28.2 (27.7 ) Other operating expenses 3.3 4.5 (26.7 ) Depreciation and amortization expenses 30.7 32.9 (6.7 ) General and administrative expenses 362.5 321.0 12.9 Restructuring and impairments 10.7 15.0 (28.7 ) Total operating expenses 427.6 401.6 6.5 Operating loss $ (408.5 ) $ (370.8 ) 10.2 % Oct 2, Oct 3, % 2022 2021 Year Ended (52 Weeks Ended) (53 Weeks Ended) Net revenues $ 95.8 $ 97.5 (1.7 )% Product and distribution costs 88.3 86.4 2.2 Other operating expenses 16.4 14.9 10.1 Depreciation and amortization expenses 126.4 141.9 (10.9 ) General and administrative expenses 1,371.2 1,261.3 8.7 Restructuring and impairments 12.7 15.0 (15.3 ) Total operating expenses 1,615.0 1,519.5 6.3 Operating loss $ (1,519.2 ) $ (1,422.0 ) 6.8 % Corporate and Other primarily consists of our unallocated corporate operating expenses. STARBUCKS CORPORATION CONSOLIDATED BALANCE SHEETS (unaudited, in millions, except per share data) Oct 2, Oct 3, ASSETS Current assets: Cash and cash equivalents $ 2,818.4 $ 6,455.7 Short-term investments 364.5 162.2 Accounts receivable, net 1,175.5 940.0 Inventories 2,176.6 1,603.9 Prepaid expenses and other current assets 483.7 594.6 Total current assets 7,018.7 9,756.4 Long-term investments 279.1 281.7 Equity investments 311.2 268.5 Property, plant and equipment, net 6,560.5 6,369.5 Operating lease, right-of-use asset 8,015.6 8,236.0 Deferred income taxes, net 1,799.7 1,874.8 Other long-term assets 554.2 578.5 Other intangible assets 155.9 349.9 Goodwill 3,283.5 3,677.3 TOTAL ASSETS $ 27,978.4 $ 31,392.6 LIABILITIES AND SHAREHOLDERS' EQUITY/(DEFICIT) Current liabilities: Accounts payable $ 1,441.4 $ 1,211.6 Accrued liabilities 2,137.1 2,321.2 Accrued payroll and benefits 761.7 772.3 Current portion of operating lease liability 1,245.7 1,251.3 Stored value card liability and current portion of deferred revenue 1,641.9 1,596.1 Short-term debt 175.0 — Current portion of long-term debt 1,749.0 998.9 Total current liabilities 9,151.8 8,151.4 Long-term debt 13,119.9 13,616.9 Operating lease liability 7,515.2 7,738.0 Deferred revenue 6,279.7 6,463.0 Other long-term liabilities 610.5 737.8 Total liabilities 36,677.1 36,707.1 Shareholders' deficit: Common stock ($0.001 par value) — authorized, 2,400.0 shares; issued and outstanding, 1,147.9 and 1,180.0 shares, respectively 1.1 1.2 Additional paid-in capital 205.3 846.1 Retained deficit (8,449.8 ) (6,315.7 ) Accumulated other comprehensive income/(loss) (463.2 ) 147.2 Total shareholders’ deficit (8,706.6 ) (5,321.2 ) Noncontrolling interests 7.9 6.7 Total deficit (8,698.7 ) (5,314.5 ) TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY/(DEFICIT) $ 27,978.4 $ 31,392.6 STARBUCKS CORPORATION CONSOLIDATED STATEMENTS OF CASH FLOWS (unaudited and in millions) Year Ended Oct 2, Oct 3, Sep 27, OPERATING ACTIVITIES: Net earnings including noncontrolling interests $ 3,283.4 $ 4,200.3 $ 924.7 Adjustments to reconcile net earnings to net cash provided by operating activities: Depreciation and amortization 1,529.4 1,524.1 1,503.2 Deferred income taxes, net (37.8 ) (146.2 ) (25.8 ) Income earned from equity method investees (268.7 ) (347.3 ) (280.7 ) Distributions received from equity method investees 231.2 336.0 227.7 Net gain resulting from divestiture of certain operations — (864.5 ) — Stock-based compensation 271.5 319.1 248.6 Non-cash lease costs 1,497.7 1,248.6 1,197.6 Loss on retirement and impairment of assets 91.4 226.2 454.4 Other (67.8 ) (6.0 ) 24.5 Cash provided by/(used in) changes in operating assets and liabilities: Accounts receivable (326.1 ) (43.0 ) (2.7 ) Inventories (641.0 ) (49.8 ) (10.9 ) Income taxes payable (149.6 ) 286.1 (1,214.6 ) Accounts payable 345.5 189.9 (210.8 ) Deferred revenue (75.8 ) (6.1 ) 31.0 Operating lease liability (1,625.6 ) (1,488.1 ) (1,231.4 ) Other operating assets and liabilities 339.6 609.8 (37.0 ) Net cash provided by operating activities 4,397.3 5,989.1 1,597.8 INVESTING ACTIVITIES: Purchases of investments (377.9 ) (432.0 ) (443.9 ) Sales of investments 72.6 143.2 186.7 Maturities and calls of investments 67.3 345.5 73.7 Additions to property, plant and equipment (1,841.3 ) (1,470.0 ) (1,483.6 ) Net proceeds from the divestiture of certain operations 59.3 1,175.0 — Other (126.3 ) (81.2 ) (44.4 ) Net cash used in investing activities (2,146.3 ) (319.5 ) (1,711.5 ) FINANCING ACTIVITIES: Net proceeds/(payments) from issuance of commercial paper 175.0 (296.5 ) — Net proceeds from issuance of short-term debt 36.6 215.1 1,406.6 Repayments of short-term debt (36.6 ) (349.8 ) (967.7 ) Proceeds from issuance of long-term debt 1,498.1 — 4,727.6 Repayments of long-term debt (1,000.0 ) (1,250.0 ) — Proceeds from issuance of common stock 101.6 246.2 298.8 Cash dividends paid (2,263.3 ) (2,119.0 ) (1,923.5 ) Repurchase of common stock (4,013.0 ) — (1,698.9 ) Minimum tax withholdings on share-based awards (127.2 ) (97.0 ) (91.9 ) Other (9.2 ) — (37.7 ) Net cash provided by/(used in) financing activities (5,638.0 ) (3,651.0 ) 1,713.3 Effect of exchange rate changes on cash and cash equivalents (250.3 ) 86.2 64.7 Net increase/(decrease) in cash and cash equivalents (3,637.3 ) 2,104.8 1,664.3 CASH AND CASH EQUIVALENTS: Beginning of period 6,455.7 4,350.9 2,686.6 End of period $ 2,818.4 $ 6,455.7 $ 4,350.9 SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION: Cash paid during the period for: Interest, net of capitalized interest $ 474.7 $ 501.1 $ 396.9 Income taxes $ 1,157.6 $ 756.3 $ 1,699.1 Supplemental Information The following supplemental information is provided for historical and comparative purposes. U.S. Supplemental Data Quarter Ended ($ in millions) Oct 2, 2022 Oct 3, 2021 (13 Weeks Ended) (14 Weeks Ended) Change (%) Revenues $5,703.3 $5,333.4 7% Change in Comparable Store Sales (1) 11% 22% Change in Transactions 1% 19% Change in Ticket 10% 3% Store Count 15,878 15,450 3% (1) Includes only Starbucks® company-operated stores open 13 months or longer. Comparable store sales exclude Siren Retail stores. Stores that are temporarily closed or operating at reduced hours due to the COVID-19 pandemic remain in comparable store sales while stores identified for permanent closure have been removed. China Supplemental Data Quarter Ended ($ in millions) Oct 2, 2022 Oct 3, 2021 (13 Weeks Ended) (14 Weeks Ended) Change (%) Revenues $775.6 $964.0 (20)% Change in Comparable Store Sales (1) (16)% (7)% Change in Transactions (17)% (2)% Change in Ticket 1% (5)% Store Count 6,021 5,360 12% (1) Includes only Starbucks® company-operated stores open 13 months or longer. Comparable store sales exclude the effects of fluctuations in foreign currency exchange rates, stores identified for permanent closure and Siren Retail stores. Stores that are temporarily closed or operating at reduced hours due to the COVID-19 pandemic remain in comparable store sales while stores identified for permanent closure have been removed. Store Data Net stores opened/(closed) and transferred during the period Quarter Ended Year Ended Stores open as of Oct 2, Oct 3, Oct 2, Oct 3, Oct 2, Oct 3, North America: Company-operated stores 166 1 355 (248 ) 10,216 9,861 Licensed stores 79 73 114 134 7,079 6,965 Total North America 245 74 469 (114 ) 17,295 16,826 International: Company-operated stores 320 259 765 744 8,037 7,272 Licensed stores 198 205 644 543 10,379 9,735 Total International 518 464 1,409 1,287 18,416 17,007 Total Company 763 538 1,878 1,173 35,711 33,833 Non-GAAP Disclosure In addition to the GAAP results provided in this release, the company provides certain non-GAAP financial measures that are not in accordance with, or alternatives for, generally accepted accounting principles in the United States. Our non-GAAP financial measures of non-GAAP general and administrative expenses (G&A), non-GAAP operating income, non-GAAP operating income growth, non-GAAP operating margin, non-GAAP effective tax rate and non-GAAP earnings per share exclude the below-listed items and their related tax impacts, as they do not contribute to a meaningful evaluation of the company’s future operating performance or comparisons to the company's past operating performance. The GAAP measures most directly comparable to non-GAAP G&A, non-GAAP operating income, non-GAAP operating income growth, non-GAAP operating margin, non-GAAP effective tax rate and non-GAAP earnings per share are general and administrative expenses, operating income, operating income growth, operating margin, effective tax rate and diluted net earnings per share, respectively. Non-GAAP Exclusion Rationale Restructuring and impairment costs Management excludes restructuring and impairment costs relating to the write-down of certain company-operated store and corporate assets. Management excludes these items for reasons discussed above. These expenses are anticipated to be completed within a finite period of time. Transaction and integration-related costs Management excludes transaction and integration costs, primarily amortization, of the acquired intangible assets for reasons discussed above. Additionally, the majority of these costs will be recognized over a finite period of time. Nestlé transaction and integration-related costs Management excludes the transaction and integration-related costs related to the Global Coffee Alliance with Nestlé (inclusive of incremental costs to grow and develop the alliance) for reasons discussed above. Sale of certain company-operated business and joint venture operations Management excludes the gain related to the sale of Evolution Fresh, as well as our South Korea and Russia joint venture operations as these incremental gains were specific to the sale activity and for reasons discussed above. Non-GAAP G&A, non-GAAP operating income, non-GAAP operating income growth, non-GAAP operating margin, non-GAAP effective tax rate and non-GAAP earnings per share may have limitations as analytical tools. These measures should not be considered in isolation or as a substitute for analysis of the company’s results as reported under GAAP. Other companies may calculate these non-GAAP financial measures differently than the company does, limiting the usefulness of those measures for comparative purposes. Certain non-GAAP measures included in this report were not reconciled to the comparable GAAP financial measures. The company is unable to reconcile these forward-looking non-GAAP financial measures to the most directly comparable GAAP measures without unreasonable efforts because the company is currently unable to predict with a reasonable degree of certainty the type and extent of certain items that would be expected to impact GAAP measures for these periods but would not impact the non-GAAP measures. Such items may include acquisitions, divestitures, restructuring and other items, which are fluid and unpredictable in nature. In addition, the company believes such a reconciliation would imply a degree of precision that may be confusing or misleading to investors. The unavailable information could have a significant impact on the company’s GAAP financial results. STARBUCKS CORPORATION RECONCILIATION OF SELECTED GAAP MEASURES TO NON-GAAP MEASURES (unaudited, in millions except per share data) Quarter Ended (1) Consolidated Oct 2, Oct 3, Change (13 Weeks Ended) (14 Weeks Ended) Operating income, as reported (GAAP) $ 1,195.5 $ 1,482.2 (19.3)% Restructuring and impairment costs (3) 35.1 55.5 Transaction and integration-related costs (4) 42.0 48.1 Nestlé transaction and integration-related costs (5) — 0.1 Non-GAAP operating income $ 1,272.6 $ 1,585.9 (19.8)% Operating margin, as reported (GAAP) 14.2 % 18.2 % (400) bps Restructuring and impairment costs (3) 0.4 0.7 Transaction and integration-related costs (4) 0.5 0.6 Nestlé transaction and integration-related costs (5) — 0.0 Non-GAAP operating margin 15.1 % 19.5 % (440) bps Diluted net earnings per share, as reported (GAAP) $ 0.76 $ 1.49 (49.0)% Restructuring and impairment costs (3) 0.03 0.05 Transaction and integration-related costs (4) 0.04 0.04 Gain resulting from divestiture of certain company-operated business and joint venture operations — (0.73 ) Income tax effect on Non-GAAP adjustments (6) (0.02 ) 0.14 Non-GAAP EPS $ 0.81 $ 0.99 (18.2)% (1) Certain numbers may not foot due to rounding convention. (2) In the first quarter of fiscal 2022, the company changed its treatment of removing certain integration costs related to the acquisitions of Starbucks Japan and East China for its non-GAAP financial measures. Integration costs, primarily related to information technology investments and compensation-related programs, are deemed to be representative of ongoing operations. These integration costs will remain in our non-GAAP measures; non-GAAP measures for the quarter ended October 3, 2021 have been recast to reflect this change. (3) Represents costs associated with our restructuring efforts. (4) Includes amortization expense of acquired intangible assets associated with the acquisition of East China. The fourth quarter of fiscal 2022 also includes other expenses associated with the sale of our Evolution Fresh business. (5) Represents costs associated with the Global Coffee Alliance with Nestlé. (6) Adjustments were determined based on the nature of the underlying items and their relevant jurisdictional tax rates. Q4 QTD FY22 NON-GAAP DISCLOSURE DETAILS (in millions and before income taxes) Q4 QTD FY22 North America International Channel Corporate and Other Consolidated Statement of Earnings Line Item Restructuring and Transaction and Nestlé Transaction Transaction and Restructuring and Total Non-GAAP Other operating expenses $ — $ — $ — $ 2.0 $ — $ 2.0 Depreciation and amortization expenses — 40.0 — — — 40.0 Restructuring and impairments 24.4 — — — 10.7 35.1 Total impact to operating income $ (24.4 ) $ (40.0 ) $ — $ (2.0 ) $ (10.7 ) $ (77.1 ) Non-Operating gain Interest income and other, net $ 0.3 STARBUCKS CORPORATION RECONCILIATION OF SELECTED GAAP MEASURES TO NON-GAAP MEASURES (unaudited, in millions except per share data) Year Ended (1) Consolidated Oct 2, Oct 3, (52 Weeks Ended) (53 Weeks Ended) Operating income, as reported (GAAP) $ 4,617.8 $ 4,872.1 (5.2)% Restructuring and impairment costs (3) 46.0 170.4 Transaction and integration-related costs (4) 191.2 198.1 Nestlé transaction and integration-related costs (5) — (22.7 ) Non-GAAP operating income $ 4,855.0 $ 5,217.9 (7.0)% Operating margin, as reported (GAAP) 14.3 % 16.8 % (250) bps Restructuring and impairment costs (3) 0.1 0.6 Transaction and integration-related costs (4) 0.6 0.7 Nestlé transaction and integration-related costs (5) — (0.1 ) Non-GAAP operating margin 15.1 % 18.0 % (290) bps Diluted net earnings per share, as reported (GAAP) $ 2.83 $ 3.54 (20.1)% Restructuring and impairment costs (3) 0.04 0.14 Transaction and integration-related costs (4) 0.17 0.17 Nestlé transaction and integration-related costs (5) — (0.02 ) Gain resulting from divestiture of certain company-operated business and joint venture operations (0.01 ) (0.73 ) Correction of prior year estimated tax expense (6) (0.02 ) — Income tax effect on Non-GAAP adjustments (7) (0.05 ) 0.10 Non-GAAP EPS $ 2.96 $ 3.20 (7.5)% (1) Certain numbers may not foot due to rounding convention. (2) In the first quarter of fiscal 2022, the company changed its treatment of removing certain integration costs related to the acquisitions of Starbucks Japan and East China for its non-GAAP financial measures. Integration costs, primarily related to information technology investments and compensation-related programs, are deemed to be representative of ongoing operations. These integration costs will remain in our non-GAAP measures; non-GAAP measures for the year ended October 3, 2021 have been recast to reflect this change. (3) Represents costs associated with our restructuring efforts. (4) Includes amortization expense of acquired intangible assets associated with the acquisition of East China. Fiscal 2022 also includes other expenses associated with our Russia market exit and with the sale of our Evolution Fresh business. Fiscal 2021 also includes amortization expense of acquired intangible assets associated with the acquisition of Starbucks Japan. (5) Represents costs associated with the Global Coffee Alliance with Nestlé and a change in estimate relating to a transaction cost accrual. (6) Represents a beneficial return-to-provision adjustment related to the prior year divestiture of certain joint venture operations that also received non-GAAP treatment. (7) Adjustments were determined based on the nature of the underlying items and their relevant jurisdictional tax rates. YTD FY22 NON-GAAP DISCLOSURE DETAILS (in millions and before income taxes) Q4 YTD FY22 North America International Channel Corporate and Other Consolidated Statement of Earnings Line Item Restructuring and Transaction and Nestlé Transaction Transaction and Restructuring and Total Non-GAAP Other operating expenses $ — $ 20.0 $ — $ 4.0 $ — $ 24.0 Depreciation and amortization expenses — 167.1 — — — 167.1 General and administrative expenses — 0.1 — — — 0.1 Restructuring and impairments 33.3 — — — 12.7 46.0 Total impact to operating income $ (33.3 ) $ (187.2 ) $ — $ (4.0 ) $ (12.7 ) $ (237.2 ) Non-Operating gain Interest income and other, net $ 8.2 RECONCILIATION OF EXTRA WEEK FOR FISCAL 2021 MEASURES (unaudited, in millions except per share data) The following tables reconcile the impact of the extra week for the fiscal fourth quarter and fiscal year ended October 3, 2021, to further enhance the comparability as we lap the 53rd week that was part of our fiscal 2021 results. Reconciliation of Revenues North America International Channel Corporate and Consolidated Revenue for the quarter ended October 3, 2021 as reported (GAAP) - 14-weeks $ 5,763.0 $ 1,914.6 $ 438.3 $ 30.8 $ 8,146.7 Impact of the extra week (427.3 ) (126.6 ) (20.5 ) (1.2 ) (575.6 ) Revenue - 13-weeks $ 5,335.7 $ 1,788.0 $ 417.8 $ 29.6 $ 7,571.1 Revenue for the quarter ended October 2, 2022 (GAAP) - 13 weeks $ 6,134.4 $ 1,777.0 $ 483.7 $ 19.1 $ 8,414.2 Change (%) 15 % (1 )% 16 % (35 )% 11 % Revenue for the year ended October 3, 2021 as reported (GAAP) - 53-weeks $ 20,447.9 $ 6,921.6 $ 1,593.6 $ 97.5 $ 29,060.6 Impact of the extra week (427.3 ) (126.6 ) (20.5 ) (1.2 ) (575.6 ) Revenue - 52-weeks $ 20,020.6 $ 6,795.0 $ 1,573.1 $ 96.3 $ 28,485.0 Revenue for the year ended October 2, 2022 (GAAP) - 52 weeks $ 23,370.8 $ 6,940.1 $ 1,843.6 $ 95.8 $ 32,250.3 Change (%) 17 % 2 % 17 % (1 )% 13 % Reconciliation of Operating Margin Consolidated Operating Margin for the quarter ended October 3, 2021 as reported (GAAP) - 14-weeks 18.2 % Non-GAAP Impact 1.3 % Non-GAAP Operating Margin - 14-weeks 19.5 % Impact of the extra week (0.6 )% Non-GAAP Operating Margin - 13-weeks 18.9 % Operating Margin for the year ended October 3, 2021 as reported (GAAP) - 53-weeks 16.8 % Non-GAAP Impact 1.2 % Non-GAAP Operating Margin - 53-weeks 18.0 % Impact of the extra week (0.2 )% Non-GAAP Operating Margin - 52-weeks 17.8 % Reconciliation of Earnings Per Share Oct 2, Oct 3, % Quarter Ended 2022 2021 Change GAAP Earnings Per Share - 14-weeks $ 1.49 Non-GAAP Impact (0.50 ) Non-GAAP Earnings Per Share - 14-weeks 0.99 Impact of the extra week (0.10 ) Non-GAAP Earnings Per Share - 13-weeks $ 0.81 $ 0.89 (9 )% Oct 2, Oct 3, % Year Ended 2022 2021 Change GAAP Earnings Per Share - 53-weeks $ 3.54 Non-GAAP Impact (0.34 ) Non-GAAP Earnings Per Share - 53-weeks 3.20 Impact of the extra week (0.10 ) Non-GAAP Earnings Per Share - 52-weeks $ 2.96 $ 3.10 (5 )% View source version on businesswire.com: https://www.businesswire.com/news/home/20221103005251/en/ Starbucks Contact, Investor Relations: Starbucks Contact, Media: Source: Starbucks Corporation Categories: Press Releases Return to Financial Releases Starbucks Reports Q4 and Full Year Fiscal 2022 Results
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Tiffany Willis
[emailprotected]
Reggie Borges
[emailprotected]
206-318-7100
FAQs
What are the results of Starbucks Corporation Starbucks reports Q4 and full year fiscal 2022? ›
Net revenues for the North America segment grew 6% (15% on a 13-week basis) over Q4 FY21 to $6.1 billion in Q4 FY22, primarily driven by an 11% increase in company-operated comparable store sales, driven by a 10% increase in average ticket and a 1% increase in transactions, net new store growth of 3% over the past 12 ...
How is Starbucks doing financially 2022? ›Starbucks (NASDAQ:SBUX) Full Year 2022 Results. Revenue: US$32.3b (up 11% from FY 2021). Net income: US$3.28b (down 22% from FY 2021). Profit margin: 10% (down from 14% in FY 2021).
What is Starbucks fiscal year end? ›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 here.
Is Starbucks expected to beat earnings? ›Starbucks ended fiscal 2022 on a strong note, beating earnings expectations and posting record quarterly and yearly revenue. Starbucks (ticker: SBUX ) posted fourth-quarter adjusted earnings of 81 cents a share, topping estimates for earnings of 72 cents a share.
What is your assessment of Starbucks financial performance? ›For FY2021, Starbucks maintained $154.84 billion in enterprise value (EV), driven by its increased debt and relatively high stock valuation. 4 As of Nov. 8, 2021, Starbucks showed an enterprise value to revenue (EV/R) multiple of 5.33x and EV/EBITDA multiple of 21.06x.
Is Starbucks profitability improving over time? ›Starbucks gross profit for the twelve months ending December 31, 2022 was $22.313B, a 5.52% increase year-over-year. Starbucks annual gross profit for 2022 was $21.933B, a 7.93% increase from 2021. Starbucks annual gross profit for 2021 was $20.322B, a 28.43% increase from 2020.
Is Starbucks growing or Declining? ›In the fiscal 2023 first quarter (ended Jan. 1), Starbucks was able to increase revenue 8.2% year over year to $8.7 billion. Diluted earnings per share (EPS) of $0.74 were up 7.2%.
What is the outlook for Starbucks? ›Looking to 2023, the company is projecting revenue growth of 10% to 12% and adjusted earnings per share growth on the low end of 15% to 20% for fiscal 2023.
What is the future of Starbucks stock? ›Stock Price Forecast
The 26 analysts offering 12-month price forecasts for Starbucks Corp have a median target of 115.00, with a high estimate of 138.00 and a low estimate of 91.00. The median estimate represents a +7.39% increase from the last price of 107.09.
The tax years you can use are: Calendar year - 12 consecutive months beginning January 1 and ending December 31. Fiscal year - 12 consecutive months ending on the last day of any month except December.
What does fiscal year-end mean? ›
The term "fiscal year-end" refers to the completion of any one-year or 12-month accounting period other than a typical calendar year. A fiscal year is often the period used for calculating annual financial statements.
What is current fiscal year-end? ›The current fiscal year, FY 2022, ends on Sept. 30, 2022. FY 2023 starts Oct. 1, 2022, and ends Sept.
Is Starbucks a buy sell or hold? ›Starbucks has received a consensus rating of Hold.
Are Starbucks baristas getting a raise? ›Starbucks Pay Raise
Starbucks-Baristas will see an increase in their monthly pay of $2,959 per month as a result of this new wage increase. Starbucks will raise its wages by 25% in 2021 as a way to offset the impact of the tax reform law. As a result, the new wage will help employees and their families earn more money.
Starbucks Corporation - Hold
Valuation metrics show that Starbucks Corporation may be overvalued. Its Value Score of D indicates it would be a bad pick for value investors. The financial health and growth prospects of SBUX, demonstrate its potential to underperform the market. It currently has a Growth Score of A.
Perfect scores count toward increasing the metric, according to Starbucks, while anything less than 7 is essentially counted as a zero. For example, if 40 out of the 100 people who answered the survey responded with a 7, the customer connection score at that location would be 40.
How does Starbucks measure its performance? ›They use customer comment cards to assess their performance. The managers reward the highest scorer with monetary incentives. The feedback is a 360-degree feedback process according to which the employees are trained, promoted, and rewarded. Starbucks rewards bonus to the 'Best Employee of the month'.
How is Starbucks currently doing? ›It is now the third-largest global restaurant chain, after Subway and McDonald's, and it's growing faster than either. The company plans to add 2,000 stores this year, many of them in China, an explosive market—the company's second largest—where, since 2020, it's been opening a new store every 15 hours.
Is Starbucks good long term investment? ›With a solid Zacks Rank and top-tier Momentum and VGM Style Scores, SBUX should be on investors' short list. Each was handpicked by a Zacks expert as the #1 favorite stock to gain +100% or more in 2021. Previous recommendations have soared +143.0%, +175.9%, +498.3% and +673.0%.
What makes Starbucks so profitable? ›For the most part, Starbucks is a master of employingvalue based pricingto maximize profits, and they use research and customer analysis to formulate targeted price increases that capture the greatest amount consumers are willing to pay without driving them off.
Is Starbucks having a labor shortage? ›
Hundreds of Starbucks have followed suit. The labor shortage, higher pay, the rise of unions, it's all prompted companies to start investing in their own trend of 2022, robots.
Why is Starbucks losing stock? ›"The factors weighing on the stock include: (1) unionization activities at Starbucks stores; (2) backlash around pricing increases in China/Omicron restrictions; and (3) still some overhang from the fiscal year 2022 guidance reductions on the 2/1/22 1Q earnings call," Barish explained.
What are Starbucks biggest challenges? ›Rising Prices Of Coffee Beans
The primary contributor towards the rise in prices of coffee beans is the drought in Brazil and Vietnam, the largest producers of coffee beans. Further, the increased demand for coffee has led to a reduction in the inventory levels of coffee beans for the past twelve consecutive quarters.
The average price target represents 8.46% Increase from the current price of $105.57. Starbucks's analyst rating consensus is a Moderate Buy. This is based on the ratings of 22 Wall Streets Analysts.
What has Starbucks been in the news for lately? ›- Bernie Sanders Presses Ahead With Subpoena of Starbucks C.E.O. ...
- DealBook Newsletter. ...
- Starbucks Violated Labor Law in Buffalo Union Drive, Judge Rules. ...
- Restaurant Chains Make It Cost More to Be Loyal. ...
- Judge Scales Back Ruling Against Starbucks in Union Fight. ...
- Want That Coffee With Olive Oil?
Getting a job at Starbucks is very competitive.
The company receives millions of job applications annually and only hires a small fraction of the applicants. In the U.S., for example, by the end of the year, it receives up to 4 million job applicants while only 80,000 of that margin are given jobs.
The all-time high Starbucks stock closing price was 121.53 on July 26, 2021. The Starbucks 52-week high stock price is 110.83, which is 11.5% above the current share price.
Can Starbucks continue to grow? ›In the future, as seen on Seeking Alpha, the analyst consensus expects Starbucks to keep growing sales at an annual rate of ~11% in the medium term. The EPS (earnings per share) has increased much faster over the past ten years. Starbucks managed to quadruple its EPS over the last decade.
How many stocks do Starbucks employees get? ›If you stay employed by Starbucks for at least one year from the grant date with no breaks in service, you'll receive the first half of your Bean Stock. If you remain employed two years from the grant date, you'll receive the second half. Once you own the shares, you can hold or sell them.
How do you fill out a fiscal year? ›Oftentimes “fiscal year” is abbreviated to “FY,” such as “FY 2023.” Specific fiscal years are referred to with the year in which they end. For example, if a company has a fiscal year from July 1, 2022 to June 30, 2023, the fiscal year would be “FY 2023.”
What is fiscal year example? ›
Because the fiscal year straddles two different calendar years, the calendar year and fiscal year will not always match. For example, Fiscal Year 2023 runs from July 1, 2022 – June 30, 2023.
How do I prepare for my fiscal year end? ›...
Compile your documents
- bank statements.
- inventory counts.
- credit card bills.
- preceding year's tax return.
- loan records.
- merchant records.
A fiscal year is a 12-month accounting period that a business uses for financial and tax reporting purposes. A fiscal year is also known as a financial year. A fiscal year can be different to a calendar year – it doesn't need to start on January 1 and end on December 31.
What is the purpose of fiscal year? ›A fiscal year is a 12-month period of time that a company or government uses for accounting purposes to measure its financial performance. A calendar year is a 12-month period of time that runs from January 1st to December 31st. The fiscal year does not necessarily line up with the calendar year.
How many days is a fiscal year? ›A fiscal year is a period of total 365 days; A calendar year is also 365 days. It has 12 consecutive months.
What months are fiscal year? ›The fiscal year ends. Some of the most commonly used Fiscal Years by businesses all over the world are: 1st January to 31st December, 1st April to 31st March, 1st July to 30th June and 1st October to 30th Septemberread more on Sep 30 of the next calendar year.
What fiscal quarter are we in? ›January, February, and March (Q1) April, May, and June (Q2) July, August, and September (Q3) October, November, and December (Q4)
What are the 4 quarters? ›First quarter, Q1: 1 January – 31 March (90 days or 91 days in leap years) Second quarter, Q2: 1 April – 30 June (91 days) Third quarter, Q3: 1 July – 30 September (92 days) Fourth quarter, Q4: 1 October – 31 December (92 days)
How much should I invest in Starbucks? ›You often don't need a lot of money to start. Currently, the minimum amount of money you'll need to invest in Starbucks is $500. But one of the downsides is that the ongoing fees can really nibble away at your profit, compared to investing apps and online brokerages, which can offer no-commission trades.
How often do Starbucks employees get stock? ›But for everyone who works for Starbucks, it's also what makes them a partner in the company: Bean Stock, an annual allotment of the company's stock given to all benefits-eligible employees.
Is Starbucks strong in its market? ›
Starbucks Corporation is the most popular and strongest brand in the food and beverage industry. Its size, volume, and the number of loyal customers have kept growing over time. It has a brand value of $14.05 Billion as per 2022 Interbrand ranking.
Are Starbucks employees underpaid? ›Business Insider spoke with several current and former Starbucks employees and found that the chain's staff is underpaid, overworked, and seriously understaffed.
Do Starbucks baristas get bonuses? ›From free coffee to pay bonuses, Starbucks partners enjoy some of the most competitive and comprehensive benefits available.
How much does Starbucks pay 2023? ›The average salary for a Starbucks-Barista is $33,229 per year in United States, which is 7% lower than the average Starbucks salary of $35,836 per year for this job.
What was Starbucks original stock price? ›Starbucks went public on June 26, 1992, at a price of $17 per share (or $0.27 per share, adjusted for our six subsequent stock splits) and closed trading that first day at $21.50 per share (or $0.34 per share, on a split-adjusted basis).
Who owns the majority of Starbucks stock? ›Howard Schultz is the largest individual shareholder of Starbucks, owning 1.9% of its shares. As of December 2022, the market value of Howard Schultz's stake in Starbucks was $2.2 billion. Howard Schultz owned 22 million shares in Starbucks and controlled 22 million shareholder votes as of December 2022.
Is Starbucks a stable stock? ›Price Volatility
Stable Share Price: SBUX is less volatile than 75% of US stocks over the past 3 months, typically moving +/- 3% a week. Volatility Over Time: SBUX's weekly volatility (3%) has been stable over the past year.
Starbucks' net revenue reached 26.58 billion U.S. dollars in 2022, reflecting an increase over the previous year's total of 24.61.
What is Starbucks US market share 2022? ›As of September 2022, Starbucks held a total US coffee shop market share of 41% by outlets.
Did Starbucks raise their prices March 2022? ›In 2022, most Starbucks prices increased by $0.30 – $0.70 per item compared to the previous year. Depending on your location, your final prices could vary slightly from ours. Regardless, the average price increase on the items we compared was 9.85%.
What is Starbucks profit margin 2022? ›
Current and historical gross margin, operating margin and net profit margin for Starbucks (SBUX) over the last 10 years. Profit margin can be defined as the percentage of revenue that a company retains as income after the deduction of expenses. Starbucks net profit margin as of December 31, 2022 is 10.09%.
What is Starbucks running out of? ›This has led to a shortage of coffee beans, cups, and other supplies needed to make Starbucks drinks. The company is working to increase its production, but in the meantime, customers may have to wait longer for their favorite drinks.
What was Starbucks going to be called? ›Co-founder Gordon Bowker, a writer, initially proposed calling the company “Pequod,” after the ship in Herman Melville's classic novel “Moby-Dick.” But Terry objected – would a cup of “Pee-kwod” appeal to anyone? The brainstorming continued. While researching names of mining camps on Mt.
Why are Starbucks randomly closing? ›The coffee chain, in a statement to the Los Angeles Times, cited “a high volume of challenging incidents that make it unsafe to continue to operate” at the locations, which include Hollywood Boulevard and Vine, as well as the centrally located shop at the corner of Santa Monica Boulevard and Westmount in West Hollywood ...
What are experts saying about Starbucks stock? ›The 27 analysts offering 12-month price forecasts for Starbucks Corp have a median target of 115.00, with a high estimate of 138.00 and a low estimate of 91.00. The median estimate represents a +15.72% increase from the last price of 99.38.
Is Starbucks a good long term stock? ›It's highly successful, with #1 (Strong Buy) stocks producing an unmatched +25.41% average annual return since 1988. That's more than double the S&P 500.
Is Starbucks a Buy today? ›Starbucks has received a consensus rating of Hold. The company's average rating score is 2.48, and is based on 11 buy ratings, 12 hold ratings, and no sell ratings.
Is SBUX a Buy right Now? ›Starbucks Corporation - Hold
Valuation metrics show that Starbucks Corporation may be overvalued. Its Value Score of D indicates it would be a bad pick for value investors. The financial health and growth prospects of SBUX, demonstrate its potential to underperform the market. It currently has a Growth Score of A.
The coffee beans that Starbucks uses are of a higher quality than most other coffee beans, and they are roasted more carefully to bring out the best flavor.