Includes only Starbucks® company-operated stores open 13 months or longer. A replay of the webcast will be available on the … Net stores opened/(closed) and transferred during the period. On December 22, 2017, the Tax Cuts and Jobs Act was signed into U.S. law. The company … 206-318-7100 2. “The guiding principles we established at the onset of the pandemic, combined with our industry-leading digital platform and our ability to innovate rapidly, continue to fuel our recovery and provide confidence in a robust operating outlook for fiscal 2021. 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. Management excludes transaction and integration costs and amortization of the acquired intangible assets for reasons discussed above. 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. SEATTLE – Fiscal 2021 is forecast to be a bounce-back year for Starbucks Corp. For a complete reconciliation of our historical GAAP to non-GAAP measures, please see the reconciliation documents located on the Supplemental Financial Data page of our IR website at … The impact of the 53 rd week will be reflected in our results for the fourth quarter of fiscal 2021. Please note that Starbucks fiscal year 2021 is a 53-week year instead of the usual 52 weeks. Starbucks said it sees its store base rising to roughly 55,000 units in fiscal year 2030, largely driven by continued expansion in China. Impairment & Starbucks expects adjusted earnings growth of at least 20% in fiscal 2022. Durga Doraisamy Active Starbucks® Rewards Membership in the U.S. Up 10% Year-Over-Year to 19.3 Million The initiative’s objective is to accelerate the transition to a net-zero emissions global economy no later than 2050. Integration Costs, Nestlé Transaction 4. SEATTLE--(BUSINESS WIRE)-- © 2017 Starbucks Corporation. 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. 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. Gain on sale of certain retail operations. Starbucks Contact, Investor Relations: But as a percentage of total revenue, the popularity of those cards went up—they accounted for nearly 45% of the company’s total revenue last fiscal year, up from just over 41% a year earlier. Within the U.S. and Canada licensed store portfolios, the remaining temporary closures were predominantly in airport, college and university locations. 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. Starbucks' full-year net revenue in the 2020 fiscal year was $23.5 billion, down 11% from the prior year. CFO Pat Grismer also reiterated the company's prior forecast for fiscal … Starbucks projected that comparable-store sales will race back to growth in the fiscal year ahead, landing at between 18% and 23% compared to this past year's 14% slump. Since 1971, Starbucks Coffee Company has been committed to ethically sourcing and roasting high-quality arabica coffee. All rights reserved. Starbucks Corporation (NASDAQ: SBUX) today reported financial results for its 13-week fiscal second quarter ended March 29, 2020. Starbucks® Rewards loyalty program 90-day active members in the U.S. increased to 19.3 million, up 10% year-over-year Full Year Fiscal 2020 Highlights Global comparable store sales declined 14%, driven by a 22% decrease in comparable transactions, partially offset by a … Transaction and total net revenues. Transaction and integration-related costs. Starbucks Corporation (Nasdaq: SBUX) plans to release its fourth quarter and fiscal year 2020 financial results after the market close on Thursday, October 29, 2020 with a conference call to follow at 2:00 p.m. PT. Through our unwavering commitment to excellence and our guiding principles, we bring the unique Starbucks Experience to life for every customer through every cup. GAAP results in fiscal 2020 and fiscal 2019 include items which are excluded from non-GAAP results. Besides the name change, there were no other changes in the types of costs reported within the caption. Starbucks sold $10.5 billion in gift cards in its 2020 fiscal year, including new activations and card reloads. To share in the experience, please visit us in our stores or online at http://news.starbucks.com or www.starbucks.com. 206-318-7100 Starbucks estimated it lost $5.1 billion in sales due to the pandemic. Comparable store sales include a 2% benefit related to a temporary value-added tax exemption in China. Restructuring, Starbucks provides financial report for Q3 Fiscal Year 2020 results. Please refer to the reconciliation of GAAP measures to non-GAAP measures at the end of this release for more information. Reggie Borges 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. 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. Starbucks reported adjusted earnings per share of $.79, and revenues of $7.1 billion for Q1 fiscal year 2020, compared to analyst estimates of $.76 … Starbucks assumes no obligation to update any of these forward-looking statements or information. 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. Impairment and This declaration marks the tenth consecutive annual dividend increase for the company. Starbucks plans to open 1,100 net new stores globally in 2021, including 600 in China and 50 in the Americas. Starbucks estimated it lost $5.1 billion in sales due to the pandemic. 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. Non-GAAP G&A as a percentage of total net revenues for the fourth quarter of fiscal 2020 was 7.0%. SEATTLE-- ( BUSINESS WIRE )--Starbucks Corporation (Nasdaq: SBUX) plans to … Starbucks Corporation (Nasdaq: SBUX) plans to release its third quarter fiscal year 2020 financial results after the market close on Tuesday, July 28, 2020 with a conference call to follow at 2:00 p.m. PT. Additionally, the majority of these costs will be recognized over a finite period of time. Q4 Comparable Store Sales of -9% in the U.S. and -3% in China, Demonstrating Sustained Recovery 5. 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. Starbucks guided for its fiscal first quarter and full-year fiscal 2021, forecasting global same-store sales growth between 18% and 23% and revenue between $28 billion and $29 billion for 2021. It does not incorporate any impacts of COVID-19 on non-operating items, such as interest income, interest expense, income taxes and outstanding shares. View source version on businesswire.com: Certain non-GAAP measures included in this report were not reconciled to the comparable GAAP financial measures because the GAAP measures are not accessible on a forward-looking basis. Please refer to the reconciliation of GAAP measures to non-GAAP measures at the end of this release for more information. 206-318-7118 Starbucks said … These expenses are anticipated to be completed within a finite period of time. Such items may include acquisitions, divestitures, restructuring and other items. The company's fiscal year ( FY ) ended in September. Starbucks reported fiscal fourth-quarter net income of $392.6 million, or 33 cents per share, down from $802.9 million, or 67 cents per share, a year earlier. Fiscal 2021 Outlook Reaffirms Path to Full Recovery. Optimization Costs, International Investors will be watching for signs of recovery when Starbucks reports earnings on October 29, 2020 for Q4 FY 2020. A replay of the webcast will be available until end of day Friday, November 27, 2020. Please note that Starbucks fiscal year 2021 is a 53-week year instead of the usual 52 weeks. Starbucks Corporation (Nasdaq: SBUX) plans to release its third quarter fiscal year 2020 financial results after the market close on Tuesday, July 28, 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. You can sign up for additional subscriptions at any time. Total revenue … In addition to the fourth quarter and fiscal year 2020 results, fiscal year 2021 guidance will be provided on the conference call. Operating margin of 12.1% contracted 810 basis points, primarily due to expenses relating to the Americas store portfolio optimization, the impact of the COVID-19 outbreak including sales deleverage and additional costs incurred, as well as growth in retail partner wages and benefits, partially offset by labor efficiency. Represents costs associated with our restructuring efforts, primarily severance and asset impairments related to certain company-operated store closures and impairment of an intangible asset. Please note that Starbucks fiscal year 2021 is a 53-week year instead of the usual 52 weeks. October 15, 2020 04:30 PM Eastern Daylight Time. Represents costs associated with the Global Coffee Alliance with Nestlé. 1. Starbucks has been demonstrating a recovery in these metrics, though, … Please note that Starbucks fiscal year 2021 is a 53-week year instead of the usual 52 weeks. Contact Information and Shareholder Assistance, https://www.businesswire.com/news/home/20201029006207/en/. 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. Such items may include acquisitions, divestitures, restructuring and other items. By the end of fiscal 2023, Starbucks expects drive-thru, Starbucks Pickup, and other new store formats to make up 45% of the U.S. store base, up from around 35% today. The company assumes no obligation to update any of these forward-looking statements. Today, with more than 32,000 stores around the globe, the company is the premier roaster and retailer of specialty coffee in the world. Starbucks Announces Q1 Fiscal Year 2020 Results Conference Call Contacts Starbucks Contact, Investor Relations: Durga Doraisamy 206-318-7118 investorrelations@starbucks.com Through our unwavering commitment to excellence and our guiding principles, we bring the unique Starbucks Experience to life for every customer through every cup. The unavailable information could have a significant impact on the company’s GAAP financial results. Today, with over 32,000 stores around the globe, the company is the premier roaster and retailer of specialty coffee in the world. These forecasts were created before the spread of the virus and were based on information available at the time and on various assumptions that we believe were reasonable. Investors will be watching for signs of recovery when Starbucks reports earnings on October 29, 2020 for Q4 FY 2020. Actual future results and trends may differ materially depending on a variety of factors, including, but not limited to: further spread of COVID-19; 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 potential for a resurgence of COVID-19 infections in a given geographic region after it has hit its “peak”; 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, including the integration of the East China business and the successful expansion of our Global Coffee Alliance with Nestlé; our ability to obtain financing on acceptable terms; the acceptance of the company’s products by our customers, evolving consumer preferences and tastes and the availability of consumer financing; changes in the availability and cost of labor; the impact of competition; inherent risks of operating a global business; 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 and other risks detailed in the company filings with the Securities and Exchange Commission, including the “Risk Factors” sections of Starbucks Annual Report on Form 10-K for the fiscal year ended September 29, 2019 and Starbucks Quarterly Report on Form 10-Q for the fiscal quarter ended June 28, 2020. Represents incremental stock-based compensation award for U.S. partners (employees). Article - Starbucks Reports Q2 Fiscal 2020 Results - Q2 Consolidated Net Revenues of $6.0 Billion, Down 5% from Prior Year Due to Adverse Impact of COVID-19 A replay of the webcast will be available on the company’s website until end of day, Friday, November 27, 2020. Adjustments to reconcile net earnings to net cash provided by operating activities: Income earned from equity method investees, Distributions received from equity method investees, Gain resulting from acquisition of joint venture, Net gain resulting from divestiture of certain retail operations, Loss on retirement and impairment of assets. 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. 13-weeks), (Projected 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 Announces Q4 and Fiscal Year 2020 Results Conference Call. 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. 6. For Starbucks, the fiscal year ended on September 27, 2020, and the company reported $23.5 billion in revenue - a decrease of 11.3% from $26.5 billion a … To receive notifications via email, enter your email address and select at least one subscription below. 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. shares outstanding - diluted, Store operating expenses as a % of company-operated store revenues, Effective tax rate including noncontrolling interests. SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION: The following supplemental information is provided for historical and comparative purposes. Starbucks Corporation plans to release its fourth quarter and fiscal year 2020 financial results after the market close on Thursday, October 29, 2020 with a … Includes only Starbucks® company-operated stores open 13 months or longer. Starbucks is seeing a sharp rebound this fiscal year: adjusted EPS should return to a range of $2.70 to $2.90. These net new store openings bring the China total store count to over 4,700 company-operated Starbucks stores. The company's fiscal year ( FY ) ended in September. The impact of the 53rd week will be reflected in our results for the fourth quarter in fiscal 2021. 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). Adjustments were determined based on the nature of the underlying items and their relevant jurisdictional tax rates. Refer to the Starbucks Investor Relations website for additional information regarding historical non-GAAP information. Please note that Starbucks fiscal year 2021 is a 53-week year instead of the usual 52 weeks. Corporate and Other primarily consists of our unallocated corporate operating expenses and Evolution Fresh. Full … Comparable-store sales declined 14% in fiscal year 2020 compared to the prior year. In addition to the fourth quarter and fiscal year 2020 results, fiscal year 2021 guidance will be provided on the conference call. 53-weeks), Income tax effect on Non-GAAP adjustments (3). Durga Doraisamy 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. Starbucks Corporation (NASDAQ: SBUX) today reported financial results for its 13-week fiscal second quarter ended March 29, 2020. That’s basically in line with the $2.83 posted in FY2019. A replay of the webcast will be available on the company's website until end of day, Friday, November 27, 2020. In this earnings release, the EPS impact of COVID-19 represents an approximation based on the pandemic’s estimated impact on operating results. These results demonstrate the continued strength and relevance of our brand, the effectiveness of the actions we’ve taken to adapt to meaningful changes in consumer behavior and the extraordinary efforts of our green apron partners to serve our customers and communities in challenging circumstances,” said Kevin Johnson, president and ceo. 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. 3. Please refer to the reconciliation of GAAP measures to non-GAAP measures at the end of this release for more information. 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. STARBUCKS CORPORATION Fiscal Year 2020 Guidance The company's fiscal year 2020 guidance is unchanged from what was provided in conjunction with its Q4 fiscal 2019 earnings report, which excludes any impact of the coronavirus. Starbucks Reports Q2 Fiscal 2020 Results Q2 Consolidated Net Revenues of $6.0 Billion, Down 5% from Prior Year Due to Adverse Impact of COVID-19 Q2 GAAP EPS of $0.28; Non-GAAP EPS of $0.32 Reflecting Material Sales Deleverage and Retail Partner Support COVID-19 Impacts Expected to Intensify in Q3 and Moderate in Q4 Substantial Recovery in China Expected by End of Fiscal 2020 … In spring 2021, Starbucks will launch its latest cold drink, shaken ice espresso, made with brown sugar and oat milk. • Starbucks fiscal year 2021 is a 53-week year and will include an extra week in the fourth quarter. These decreases were partially offset by 1,117 net new store openings, or 8% store growth, over the past 12 months. GAAP results in fiscal 2020 and fiscal 2019 include items that are excluded from non-GAAP results. 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. Refer to the Starbucks Investor Relations website for additional information regarding historical non-GAAP information. April 14, 2020 05:00 PM Eastern Daylight Time. https://www.businesswire.com/news/home/20201029006207/en/, Starbucks Contact, Investor Relations: Starbucks Corporation (Nasdaq: SBUX) plans to … Prepaid expenses and other current assets, LIABILITIES AND SHAREHOLDERS' EQUITY/(DEFICIT), Current portion of operating lease liability, Stored value card liability and current portion of deferred revenue, Common stock ($0.001 par value) — authorized, 2,400.0 shares; issued and outstanding, 1,173.3 and 1,184.6 shares, respectively, TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY/(DEFICIT). Please refer to the reconciliation of GAAP measures to non-GAAP measures at the end of this release. These decreases were slightly offset by 287 net new store openings, or 2% store growth, over the past 12 months. Share on Facebook; Share on Twitter; Share on LinkedIn; Share in email; Starbucks today announced its Q3 FY20 earnings results, providing insight into the company’s continued road to recovery from the COVID-19 pandemic. 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. Please note that Starbucks fiscal year 2021 is a 53-week year instead of the usual 52 weeks. These measures should not be considered in isolation or as a substitute for analysis of the company’s results as reported under GAAP. The Americas segment reported operating income of $510.3 million in Q4 FY20, compared to $938.9 million in Q4 FY19. Includes only Starbucks® company-operated stores open 13 months or longer. 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. 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. Please refer to the reconciliation of GAAP … In fiscal year 2022, it will likely be closer to 3 percent and 6 percent, respectively. The conference call will be webcast, including closed captioning, and can be accessed on the company Comparable-store sales declined 14% in fiscal year 2020 compared to the prior year. The caption "Product and distribution costs" replaced "Cost of sales" in financial statements published in periods prior to our third quarter of fiscal 2020. Starbucks Corporation (NASDAQ: SBUX) today reported financial results for its 13-week fiscal third quarter ended June 28, 2020. In addition to the fourth quarter and fiscal year 2020 results, fiscal year 2021 guidance will be provided on the conference call. 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. Starbucks Corporation (NASDAQ: SBUX) today reported financial results for its 13-week fiscal fourth quarter ended September 27, 2020. Related Costs, Restructuring, Starbucks Corporation (NASDAQ: SBUX) today reported financial results for its 13-week fiscal fourth quarter ended September 27, 2020. Starbucks said it sees its store base rising to roughly 55,000 units in fiscal year 2030, largely driven by continued expansion in China. Reggie Borges 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. Starbucks reported adjusted earnings per share of $.79, and revenues of $7.1 billion for Q1 fiscal year 2020, compared to analyst estimates of $.76 and $7.1 billion. Represents costs associated with our restructuring efforts, primarily severance and asset impairments related to certain company-operated store closures. SEATTLE--(BUSINESS WIRE)- … RECONCILIATION OF SELECTED GAAP MEASURES TO NON-GAAP MEASURES, General and administrative expenses, as reported (GAAP), International transaction and integration-related items (2), Nestlé transaction and integration-related costs (3), Non-GAAP G&A as a % of total net revenues (4), Diluted net earnings per share, as reported (GAAP), Income tax effect on Non-GAAP adjustments (5). Other companies may calculate these non-GAAP financial measures differently than the company does, limiting the usefulness of those measures for comparative purposes. Comparable store sales exclude the effects of fluctuations in foreign currency exchange rates and Siren Retail stores. The company currently has about 33,000 outlets worldwide. As part of the earnings report, the company shared it continues to focus on three key principles as it navigates through COVID-19: prioritize the well-being of partners (employees) and customers, support health and government officials, and responsibly serve … July 28, 2020 • 3 min read. Operating margin expanded 510 basis points to 42.7%, primarily due to a business mix shift driven by strength in our ready-to-drink products and the structural change in our single-serve business. The unavailable information could have a significant impact on the company’s GAAP financial results. In the next fiscal year, it anticipates 1,100 net new stores and $1.9 billion in capital expenditures. You must click the link in the email to activate your subscription. 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