One key question, according to Wells Fargo analyst Jon Tower, is whether Starbucks will be looking to upgrade current drive-thru locations with features like digital menu boards and double lanes. Starbucks' same-store sales in the country are expected to turn positive in the first quarter. In China, Starbucks has a deal with Beyond Meat. As we have grown to more than 28,000 stores in more than 75 countries, so too has our … Subsequent to our year-end, on September 30, 2020, we declared a cash dividend of $0.45 per share payable on November 27, 2020 to shareholders of record on November 12, 2020. Download this Press Release PDF Format (opens in new window) 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 Read the latest details on RADIO.COM. Starbucks is suspending its popular “Happy Hour” promotion for the time being due to coronavirus cases rising throughout the nation. Certain non-GAAP measures included in our press release and in our investor conference call related to these results were not reconciled to the comparable GAAP financial measures because the GAAP measures are not accessible on a forward-looking basis. Cash provided by/(used in) changes in operating assets and liabilities: Net cash provided by operating activities, Additions to property, plant and equipment, Net proceeds from the divestiture of certain operations, Proceeds from issuance of short-term debt, Minimum tax withholdings on share-based awards, Net cash provided by/(used in) financing activities, Effect of exchange rate changes on cash and cash equivalents, Net increase/(decrease) in cash and cash equivalents. Net revenues for the Americas segment of $4.2 billion in Q4 FY20 were 9% lower relative to Q4 FY19, primarily due to a 9% decrease in comparable store sales as well as lower product sales to and royalty revenues from our licensees as a result of lost sales related to the COVID-19 outbreak. Starbucks is one of many fast-food and casual dining companies that have outperformed the S&P 500 this year — it's risen more than 40% while the S&P is up roughly 20%. Shares of Starbucks … These net new store openings bring the China total store count to over 4,700 company-operated Starbucks stores. Starbucks' investor day: Four things investors want to hear The abrupt shift in behavior has meant that more coffee drinkers are brewing their own java at home or visiting Starbucks cafes later in the day for a break. Please note that Starbucks fiscal year 2021 is a 53-week year instead of the usual 52 weeks. 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 27, 2020. Follow the latest Starbucks news stories and headlines. Refer to the Starbucks Investor Relations website for additional information regarding historical non-GAAP information. Non-GAAP G&A as a percentage of total net revenues for fiscal years 2019 and 2018 was 6.5% and 6.4%, respectively. (Projected Starbucks News. Certain statements contained herein and in our investor conference call related to these results are “forward-looking” statements within the meaning of the applicable securities laws and regulations. 5. But the pandemic's outsized impact on Starbucks' business could change how the company chooses to present its financial targets. Represents costs associated with our restructuring efforts, primarily severance and asset impairments related to certain company-operated store closures. Includes transaction costs for the acquisition of our East China joint venture; ongoing amortization expense of acquired intangible assets associated with the acquisition of East China and Starbucks Japan; and the related post-acquisition integration costs, such as incremental information technology and compensation-related costs. You can sign up for additional subscriptions at any time. Starbucks lost billions of dollars in sales this year due to the coronavirus pandemic, but investors want to know more about the global coffee giant's plans for driving growth in the years to come after the crisis. Starbucks commits $10M USD in COVID-19 relief for partners around the world Apr 08, 2020 The Starbucks Foundation Donates More Than $3M to Global COVID-19 Relief Efforts Such items may include acquisitions, divestitures, restructuring and other items. Management excludes restructuring and impairment costs relating to the write-down of certain company-operated stores and intangible assets. In its fiscal fourth quarter, which ended Sept. 27, same-store sales in the U.S. fell just 9% and only 3% in China. Comparable store sales include a 2% benefit related to a temporary value-added tax exemption in China. But investors will want to know more about how the transformation will change the average sales volume for a cafe and its labor costs. Fiscal 2021 Outlook Reaffirms Path to Full Recovery. 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. The unavailable information could have a significant impact on the company’s GAAP financial results. This declaration marks the tenth consecutive annual dividend increase for the company. The company committed to setting annual Inclusion and Diversity goals based on retention rates and progress toward achieving Black, Indigenous and People of Color (BIPOC) representation of at least 30% at all corporate levels and at least 40% in all retail and manufacturing roles by 2025. Stock analysis for Starbucks Corp (SBUX:NASDAQ GS) including stock price, stock chart, company news, key statistics, fundamentals and company profile. You must click the link in the email to activate your subscription. McDonald's is among the fast-food chains that have updated their drive-thru technology over the last several years, speeding up service times and reaping higher customer satisfaction. Global Business and Financial News, Stock Quotes, and Market Data and Analysis. Refranchising also means that Starbucks would need to spend just a fraction of what it's currently spending on general and administrative expenses in those markets. 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 and the extraordinary efforts of our green apron partners to serve our customers and communities in challenging circumstances,” said Kevin Johnson, president and ceo. Smaller coffee shops may have fared worse during the pandemic, which could work in Starbucks' favor and help it gain market share. Our non-GAAP financial measures of 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 EPS 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. total net revenues. Starbucks first introduced the Happy Hour promotion in 2010, which was responsible for an 11% increase in its foot traffic last year, the news outlet said. These statements include statements relating to: the estimated financial impact related to the outbreak of coronavirus disease (COVID-19) including the outlook, guidance and projections for revenues, earnings per share, operating income, operating margins, comparable store sales, net new stores, capital expenditures, interest expense and fiscal 2021 guidance; the nature and extent of the impact of COVID-19 on our business, operations and financial results; the anticipated timing and effects of recovery of our business, including our ability to expand seating and operating hours at our stores; our plans for streamlining our operations, including store openings, closures and changes in store formats and models; our ability to continue steady business improvement and improve customer and partner experiences; and our ability to emerge from this global crisis and drive long-term growth. Net revenues for the Channel Development segment of $464.0 million in Q4 FY20 were 9% lower relative to Q4 FY19. Voices. In this earnings release, we estimated the impact of COVID-19 by comparing actual results to our previous forecasts. Stores that are temporarily closed or operating at reduced hours due to the COVID-19 outbreak remain in comparable store sales while stores identified for permanent closure have been removed. Management excludes the incremental stock-based compensation award granted in the third quarter of fiscal 2018, and vested in the third quarter of fiscal 2019, for reasons discussed above. Starbucks … (1) Corporate and Other store data includes the closure of 12 Teavana® retail stores in the first quarter of fiscal 2019. Restructuring, We want to hear from you. Reggie Borges 4. Got a confidential news tip? Data is a real-time snapshot *Data is delayed at least 15 minutes. China is expected to be the key market for new restaurant additions. Now in company-operated stores in the U.S. and Canada, new and current Starbucks Rewards members are able to pay with cash, credit/debit cards or select mobile wallets and earn Stars toward free items without having to preload a Starbucks Card within the app. Starbucks will hold a conference call today at 2:00 p.m. Pacific Time, which will be hosted by Kevin Johnson, president and ceo, and Patrick Grismer, cfo. As a continuation of the company’s passion and commitment to a more sustainable future, Starbucks joined the new “Transform to Net Zero” initiative as one of nine founding members. Comparable store sales include stores that were temporarily closed as a result of the COVID-19 outbreak, and for the fourth quarter of fiscal 2020, include a 4% benefit related to a temporary value-added tax exemption. In fiscal 2021, Starbucks is projecting annual global same-store sales growth of 18% to 23%, assuming that U.S. dining rooms will be fully reopened by the end of the second fiscal quarter, which ends in March. NEW YORK, NY / ACCESSWIRE / March 24, 2017 / Shares of McDonald's Corp. and Starbucks both were slightly lower as the trading day ended Thursday. Roughly 800 urban cafes across the U.S. and Canada are expected to close, and the chain plans to build more pick-up locations and drive-thru lanes. GAAP results in fiscal 2020 and fiscal 2019 include items that are excluded from non-GAAP results. ... "We have provided scenario-based procedural information to our store teams on how to report … These forward-looking statements do not represent historical data, are based on currently available operating, financial and competitive information and are subject to a number of significant risks and uncertainties. To receive notifications via email, enter your email address and select at least one subscription below. Net stores opened/(closed) and transferred during the period. Additionally, the majority of these costs will be recognized over a finite period of time. The decline was primarily driven by an 8% unfavorable impact of Global Coffee Alliance transition-related activities, including a structural change in our single-serve business, as well as an adverse impact of COVID-19 on the Foodservice business, partially offset by growth in at-home coffee and ready-to-drink products. The call will be webcast and can be accessed at http://investor.starbucks.com. Contact Information and Shareholder Assistance, https://www.businesswire.com/news/home/20201029006207/en/. Follow us on Twitter @StarbucksNews. 206-318-7118 Starbucks Corporation (NASDAQ: SBUX) today reported financial results for its 13-week fiscal fourth quarter ended September 27, 2020. Starbucks expects to swing to a loss in its fiscal third quarter as the company predicts it lost as much as $3.2 billion in revenue due to the pandemic. 53-weeks), Income tax effect on Non-GAAP adjustments (3). "While Starbucks could reiterate previously issued long-term EPS growth of 10%+ in 2022 & beyond, we argue the company would be better served by issuing a longer term EPS target given the volatility of lapping COVID-19 impacted quarters," Cowen analyst Andrew Charles said Friday in a preview of investor day. The company introduces the following fiscal 2021 guidance for Q1 and the full year. Here's what will likely be included in Starbucks' investor presentation: Starbucks has already shared its fiscal 2021 forecast with investors, but it hasn't yet shared an update on its long-term outlook. and Integration- Includes only Starbucks® company-operated stores open 13 months or longer. The coffee chain has announced plans to pay all U.S. employees a minimum wage of $15 … 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. As the companies made changes to their top management... | December 17, 2020 These decreases were partially offset by 1,117 net new store openings, or 8% store growth, over the past 12 months. 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. We have always believed Starbucks can – and should – have a positive social impact on the communities we serve. Net revenues for the International segment of $1.5 billion in Q4 FY20 were 5% lower relative to Q4 FY19, primarily due to a 10% decrease in comparable store sales as well as lower product sales to and royalty revenues from our international licensees as a result of lost sales related to the COVID-19 outbreak. Starbucks' sales in the United States and China, its two largest markets, have been rebounding faster than expected. It does not incorporate any impacts of COVID-19 on non-operating items, such as interest income, interest expense, income taxes and outstanding shares. Impairment and As of the end of fiscal year 2020, the company had opened 581 net new stores in China, with 259 net new stores opened in the fourth quarter of fiscal 2020, representing a record-level pace of store development for Starbucks China. Key takeaways from Starbucks Q4 FY20 earnings results. Impairment & In recent years, Starbucks has turned to cold beverages to induce customers to return more frequently. "We expect management will detail plans for accelerating unit growth in the coming years," UBS analyst Dennis Geiger said in a note Friday. Get breaking news alerts when you download the ABC News App and subscribe to Starbucks notifications. Another is meat substitutes, which tend to generate buzz. The pandemic caused the company to lose billions of dollars in sales and spurred some major changes, like hundreds of cafe closures. Starbucks Corporation (NASDAQ: SBUX) today reported financial results for its 13-week fiscal fourth quarter ended September 27, 2020. Integration Costs, Nestlé Transaction Learn about what is happening in our stores and company–from beverage and food announcements to financial news, partner (employee) and customer experience updates. Get this delivered to your inbox, and more info about our products and services. Through our unwavering commitment to excellence and our guiding principles, we bring the unique Starbucks Experience to life for every customer through every cup. All rights reserved. Millions of Starbucks customers are working from home due to the crisis. Earnings beat forecasts while same-store sales fell less than expected. These expenses are anticipated to be completed within a finite period of time. We hope you'll continue to follow our journey on Starbucks Stories. Management excludes the estimated transition tax on undistributed foreign earnings, the impacts of estimated incremental foreign withholding taxes on expected repatriated earnings and the re–measurement of deferred tax assets and liabilities due to the reduction of the U.S. federal corporate income tax rate for reasons discussed above. By scanning a code on the coffee bag or entering a serial number, the tool transforms each bag of coffee beans into a digital passport, launching coffee lovers on a virtual expedition to meet farmers, roasters and baristas and to explore coffee-growing regions around the world. On December 22, 2017, the Tax Cuts and Jobs Act was signed into U.S. law. Starbucks' holidays cups are back in 2020 along with new menu items. The unavailable information could have a significant impact on the company’s GAAP financial results. Comparable store sales exclude the effects of fluctuations in foreign currency exchange rates, stores identified for permanent closure and Siren Retail stores. GAAP results in fiscal 2020 and fiscal 2019 include items that are excluded from non-GAAP results. Optimization Costs, Nestlé transaction and integration-related costs (4), Non-GAAP G&A as a % of total net revenues (5), Income tax effect on Non-GAAP adjustments (7). Non-GAAP G&A as a percentage of total net revenues for the fourth quarter of fiscal 2020 was 7.0%. To share in the experience, please visit us in our stores or online at stories.starbucks.com or www.starbucks.com. Over the summer, U.S. cafes offered a breakfast sandwich made with a sausage substitute from Impossible Foods. Comparable store sales exclude the effects of fluctuations in foreign currency exchange rates and Siren Retail stores. As of the end of Q4 FY20, approximately 93% of our global licensed store portfolio was open. 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. 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 EPS are general and administrative expenses, operating income, operating income growth, operating margin, effective tax rate and diluted net EPS, respectively. [email protected], Starbucks Contact, Media: Please note, the guidance provided above is dependent on our current expectations, which may be impacted by evolving external conditions and local safety guidelines as well as shifts in customer routines, preferences and mobility. (unaudited, in millions, except per share data), Net earnings including noncontrolling interests, Net earnings/(loss) attributable to noncontrolling interests, Weighted avg. Starbucks records its "most profitable year" and says it is focusing on China to secure growth "for ... Starbucks reports record annual profit. Starbucks thanks frontline workers with free coffee for the month of December, Starbucks to accelerate its deadline to improve its store footprint. Sarah Arnold Of course paper straws can't be recycled – it's corporate green wash. Starbucks has the most advanced digital capabilities of any limited-service restaurant chain in the U.S., according to a new report from technology research firm Incisiv. Hobson will … After submitting your information, you will receive an email. Q3 Consolidated Net Revenues of $4.2 Billion, Down 38% from Prior Year Due to Adverse Impact of COVID-19 Q3 GAAP EPS of -$0.58; Non-GAAP EPS of -$0.46 Reflecting Material Sales Deleverage and Retail Partner Support COVID-19 Impacts Expected to Moderate Meaningfully in Q4 as Recovery Continues Starbucks Corporation (NASDAQ: SBUX) today reported financial results for its 13-week … Non-GAAP G&A as a percentage of total net revenues for fiscal years 2020, 2019 and 2018 was 7.1%, 6.5% and 6.4%, respectively. Includes only Starbucks® company-operated stores open 13 months or longer. Management excludes transaction and integration costs and amortization of the acquired intangible assets for reasons discussed above. The Board of Directors declared a cash dividend of $0.45 per share, an increase of 10%, payable on November 27, 2020 to shareholders of record as of November 12, 2020. A Division of NBCUniversal. Starbucks (SBUX) reported Q4 earnings after market close on October 29. At its last investor meeting in 2018, the company said it expected adjusted earnings per share to rise at least 10% annually and consolidated revenue growth of 7% to 9% over the long term. Investors will be looking for an update to its long-term outlook, more details on how its store footprint is changing and how it plans to address new consumer behavior. All Rights Reserved. GAAP results in fiscal 2020 and fiscal 2019 include items which are excluded from non-GAAP results. Includes only Starbucks® company-operated stores open 13 months or longer. Gain on sale of certain retail operations. Represents the estimated impact of the U.S. Tax Cuts and Jobs Act, specifically the transition tax on undistributed foreign earnings, estimated incremental foreign withholding taxes on expected repatriated earnings and the re-measurement of deferred taxes. As a part of its ongoing commitment to advancing racial and social equity, Starbucks announced several new actions it will take on its journey to that commitment. All full-year guidance for the metrics noted below is for fiscal year 2021 on a 53-week basis except comparable store sales growth metrics, which are relative to fiscal year 2020 on a 52-week basis. Starbucks is expected to present its plan for long-term growth at its investor day on Wednesday. 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. A replay of the webcast will be available until end of day Friday, November 27, 2020. Please refer to the reconciliation of GAAP measures to non-GAAP measures at the end of this release for more information. Management excludes the gains related to the sale of our retail operations in Thailand, France and the Netherlands as these items do not reflect future gains or tax impacts for reasons discussed above. Transaction and Starbucks released Wednesday a weaker-than-expected forecast for its fiscal 2020 earnings.. Shares of the company slid more than 3% in premarket trading. Please refer to the reconciliation of GAAP measures to non-GAAP measures at the end of this release. (FOXBUSINESS) -- Big things are brewing at Starbucks. Starbucks will lay off about 700 non-store workers by mid-February, including about 350 at its Seattle headquarters, as part of a reduction of 6,000 positions worldwide over the next eight months. Corporate and Other primarily consists of our unallocated corporate operating expenses and Evolution Fresh. The results from Siren Retail operations are not reflected in comparable store sales. SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION: The following supplemental information is provided for historical and comparative purposes. Generally, these statements can be identified by the use of words such as “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “forecast,” “intend,” “may,” “outlook,” “plan,” “potential,” “predict,” “project,” “remain,” “should,” “will,” “would,” and similar expressions intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. “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. 3. All the latest news about Starbucks from the BBC. Cowen estimates that selling off the Canadian, U.K., Japanese, Austrian and Swiss markets to franchisees could mean $4 billion in pretax cash. Homepage. The impact of the 53rd week will be reflected in our results for the fourth quarter of fiscal 2021. In this earnings release, the EPS impact of COVID-19 represents an approximation based on the pandemic’s estimated impact on operating results. Starbucks Corporation (Nasdaq: SBUX) today announced that Patrick Grismer, chief financial officer, will participate at the Wolfe Research Consumer Access Day on Wednesday, December 16, 2020, at 10:30 a.m. Eastern Time. The company assumes no obligation to update any of these forward-looking statements. Part of Starbucks' recovery plan will likely include flexing its digital capabilities and making its loyal program even more attractive. Durga Doraisamy Unlike the U.S. and many European countries, China has been able to avoid a significant surge in new Covid-cases as temperatures cooled. 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. The stock has been pushed higher by positive news about the Covid-19 vaccine, hitting an all-time high of $102.94 last week. Q4 Comparable Store Sales of -9% in the U.S. and -3% in China, Demonstrating Sustained Recovery Company News. Teen learns she has COVID-19 after Starbucks taste test TikTok video. 10/29/20. But a new wave of restrictions in the U.S. could slow Starbucks' recovery in its home market. 13-weeks), (Projected While the coffee chain has a partnership with Nestle to sell its coffee beans in grocery stores, it still needs to lure customers back to its cafes. Global comparable store sales declined 9%, driven by a 23% decrease in comparable transactions, partially offset by a 17% increase in average ticket, Americas and U.S. comparable store sales declined 9%, driven by a 25% decrease in comparable transactions, partially offset by a 21% increase in average ticket, International comparable store sales were down 10%, driven by a 15% decline in comparable transactions, partially offset by a 7% increase in average ticket; China comparable store sales were down 3%, with comparable transactions down 7%, partially offset by a 5% increase in average ticket; International and China comparable store sales are inclusive of a benefit from value-added tax exemptions of approximately 2% and 4%, respectively, The company opened 480 net new stores in Q4, yielding 4% year-over-year unit growth, ending the period with 32,660 stores globally, of which 51% and 49% were company-operated and licensed, respectively, Stores in the U.S. and China comprised 61% of the company’s global portfolio at the end of Q4, with 15,337 and 4,706 stores, respectively, Consolidated net revenues of $6.2 billion declined 8% from the prior year primarily due to lost sales related to the COVID-19 outbreak, Lost sales of approximately $1.2 billion relative to the company’s expectations before the outbreak included the effects of modified operations, reduced hours, reduced customer traffic and temporary store closures, GAAP operating margin of 9.0%, down from 16.1% in the prior year primarily due to the COVID-19 outbreak, mainly sales deleverage, material investments in retail partner support and other items; GAAP operating margin was also adversely impacted by the Americas store portfolio optimization expenses, Non-GAAP operating margin of 13.2%, down from 17.2% in the prior year, GAAP earnings per share of $0.33, down from $0.67 in the prior year primarily due to unfavorable impacts related to the COVID-19 outbreak totaling approximately -$0.35 per share, Non-GAAP earnings per share of $0.51, down from $0.70 in the prior year, Starbucks® Rewards loyalty program 90-day active members in the U.S. increased to 19.3 million, up 10% year-over-year, Global comparable store sales declined 14%, driven by a 22% decrease in comparable transactions, partially offset by a 10% increase in average ticket, Americas and U.S. comparable store sales declined 12%, driven by a 21% decrease in comparable transactions, partially offset by an 11% increase in average ticket, International comparable store sales were down 19%, driven by a 23% decline in comparable transactions, partially offset by a 5% increase in average ticket; China comparable store sales declined 17%, driven by a 21% decrease in comparable transactions, slightly offset by a 5% increase in average ticket; International and China comparable store sales are inclusive of a benefit from value-added tax exemptions of approximately 1% and 2%, respectively, Consolidated net revenues of $23.5 billion declined 11.3% from the prior year primarily due to lost sales related to the COVID-19 outbreak, Lost sales of approximately $5.1 billion relative to the company’s expectations before the outbreak included the effects of temporary store closures, modified operations, reduced hours and reduced customer traffic, GAAP operating margin of 6.6%, down from 15.4% in the prior year primarily due to the COVID-19 outbreak, mainly sales deleverage, material investments in retail partner support and other items, Non-GAAP operating margin of 9.1%, down from 17.2% in the prior year, GAAP earnings per share of $0.79, down from $2.92 in the prior year primarily due to unfavorable impacts related to the COVID-19 outbreak totaling approximately -$2.01 per share, Non-GAAP earnings per share of $1.17, down from $2.83 in the prior year, Global comparable store sales growth of 18% to 23%, Americas and U.S. comparable store sales growth of 17% to 22%, International comparable store sales growth of 25% to 30%, China comparable store sales growth of 27% to 32%, Approximately 2,150 new store openings and 1,100 net new Starbucks stores globally, Americas approximately 850 new store openings and approximately 50 net new stores, International approximately 1,300 new store openings and 1,050 net new stores, Approximately 600 net new stores in China, Consolidated revenue of $28.0 billion to $29.0 billion, inclusive of a $500 million impact attributable to the 53, Channel Development revenue of $1.4 billion to $1.6 billion, Consolidated GAAP operating margin of 14% to 15%, Consolidated Non-GAAP operating margin of 16% to 17%, Interest expense of approximately $470 million to $480 million, GAAP and non-GAAP effective tax rates in the mid-20%s, GAAP EPS in the range of $0.32 to $0.37 for Q1 and $2.34 to $2.54 for full year, inclusive of a $0.10 impact attributable to the 53, Non-GAAP EPS in the range of $0.50 to $0.55 for Q1 and $2.70 to $2.90 for full year, inclusive of a $0.10 impact attributable to the 53, Capital expenditures of approximately $1.9 billion. 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Growth at its investor day: Four things investors want to know more about the... Submitting your information, you will receive an email and fiscal 2019 include items which excluded! On December 22, 2017, the tax Cuts and Jobs Act signed. We hope you 'll continue to follow our journey on Starbucks Stories represents costs associated with our efforts! Other items sign up for additional information regarding historical non-GAAP information company-operated store revenues, Effective tax including... Incremental stock-based compensation award for U.S. partners ( employees ) tax Cuts and Jobs was!, limiting the usefulness of those measures for starbucks news report purposes planning on tens... Partially offset by 1,117 net new store openings bring the China total store to. And its labor costs company is still planning on adding tens of thousands more locations in the email activate... Breaking news, stock Quotes, and market data and Analysis bring the China total count... It may seem like there 's already a Starbucks on every corner the Starbucks investor Relations website for information... Subscribe to Starbucks notifications 93 % of our unallocated corporate operating expenses as a part of end... The write-down of certain company-operated store revenues, Effective tax rate including noncontrolling interests some trends, like coffee... To over 4,700 company-operated Starbucks stores China is expected to be the market... Will change the starbucks news report sales volume for a cafe and its labor costs annual. 7.0 % to lose billions of dollars in sales and spurred some changes. Outsized impact on the company other store data includes the closure of 12 Teavana® stores. To 100 % ethically sourced coffee, Starbucks to accelerate the transition to a temporary value-added tax exemption in,. States and China, its two largest markets, have been rebounding faster than expected http: //investor.starbucks.com impairment relating. 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