Management excludes restructuring and impairment costs relating to the write-down of certain company-operated store and corporate assets. All rights reserved. The number of Starbucks stores worldwide exceeded 35 thousand in 2022. Management excludes restructuring and impairment costs relating to the write-down of certain company-operated store and corporate assets. In August, the company expanded this goal to include global operations, agricultural supply chain and packaging, increasing the projected water conserved or replenished and addressing some of the biggest impacts on the company's water footprint. Starbucks is entering fiscal year '22 with strong customer demand and solid momentum in our U.S. business, and expanding and accelerating in-store channels and digital flywheel and green. 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. 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. Adjustments were determined based on the nature of the underlying items and their relevant jurisdictional tax rates. Starbucks Earnings: What Happened - Investopedia Starbucks (SBUX) is set to report second quarter fiscal year 2023 earnings results on Tuesday, May 2. But Starbucks' revenue growth is not driven only by opening new stores. Expected: good news for investors. We are under no obligation to update or alter any forward-looking statements, whether as a result of new information, future events or otherwise. Why does the United States begin its fiscal year on October 1st? Starbucks annual gross profit for 2021 was $20.322B, a 28.43% increase from 2020. Comparable store sales exclude the effects of fluctuations in foreign currency exchange rates, stores identified for permanent closure and Siren Retail stores. Starbucks (SBUX) Q4 2022 earnings beat estimates - CNBC Such items may include acquisitions, divestitures, restructuring and other items, which are fluid and unpredictable in nature. 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. Starbucks Corporation (NASDAQ: SBUX) today reported financial results for its 14-week fiscal fourth quarter ended October 3, 2021. Starbucks Corp.'s ( SBUX) sales, earnings and stock price have fallen this year as the coronavirus pandemic has forced the global coffee house chain to close many of its stores and limit. For the full press release, please visit our Investor Relations site here. All rights reserved. Starbucks assumes no obligation to update any of these forward-looking statements or information. Through it all, we have thoughtfully navigated a strong recovery with an eye towards our future, all guided by our Mission and Values, said Kevin Johnson, president and ceo. For fiscal 2021, comparable store sales percentages were calculated excluding the extra week in the fourth quarter of fiscal 2021. The impact of the 53rd week will be reflected in results for the fourth quarter. In January 2020, the company set an ambitious goal to conserve or replenish 50% of water used in green coffee production in our direct operations by 2030, as part of the companys multi-decade commitment to become a resource positive company. This contraction was partially offset by strategic pricing and sales leverage across markets outside of China. In September, the company announced that Laxman Narasimhan will become the company's next chief executive officer and member of the Starbucks Board of Directors. 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 two-year comparable store sales metric discussed in today's investor conference call is calculated as ((1 + % change in comparable store sales in FY20) * (1 + % change in comparable store sales in FY21)) - 1. The company's financial results and long-term growth model will continue to be driven by new store openings, comparable store sales and operating margin management. 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 companys future operating performance or comparisons to the company's past operating performance. These items can be accessed on the company's Investor Relations website during and after the call. PDF Exhibit 99.1 Starbucks Reports Q1 Fiscal 2022 Results Net revenues for the North America segment grew 37% (27% on a 13-week basis) over Q4 FY20 to $5.8 billion in Q4 FY21, primarily driven by a 22% increase in company-operated comparable store sales, driven primarily due to lapping the unfavorable impact of business disruption in the prior year due to the COVID-19 pandemic and incremental revenue from the extra week in Q4 fiscal 2021. 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, 1,180.0 and 1,173.3 shares, respectively, Accumulated other comprehensive income/(loss), TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY/(DEFICIT). You must click the link in the email to activate your subscription. Channel Development Includes 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. The transaction is subject to both Board of Directors and customary regulatory approval. Represents costs associated with the Global Coffee Alliance with Nestl. Q4 Consolidated Net Revenues Up 31% to a Record $8.1 Billion We know that when we exceed the expectations of our people, they in turn exceed the expectations of our customers - which creates value for all of our stakeholders - our partners, our customers, our communities and our shareholders. A replay of the webcast will be available until end of day Friday, November 26, 2021. Includes only Starbucks company-operated stores open 13 months or longer. Starbucks Reports Q4 and Full Year Fiscal 2021 Results 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 2022 and fiscal 2021 include items that are excluded from non-GAAP results. Entourage Health Reports Fiscal Year 2022 Financial Results and Posts Sale of certain company-operated business and joint venture operations. Since 1971, Starbucks Coffee Company has been committed to ethically sourcing and roasting high-quality arabica coffee. This Stock Could Outperform Starbucks - Forbes Adjustments to reconcile net earnings to net cash provided by operating activities: Income earned from equity method investees, Distributions received from equity method investees, Loss on retirement and impairment of assets. Operating margin of 21.8% expanded from 12.0% in the prior year, primarily driven by sales leverage from business recovery and the lapping of higher COVID-19 related costs in the prior year, in addition to the impact of pricing, partially offset by increased supply chain costs due to inflationary pressures. We saw accelerating demand for Starbucks coffee around the world in Q4 and throughout the year, said Howard Schultz, interim chief executive officer. Looking back at the last 5 years, Starbucks's return on common equity peaked in September 2019 at 615.5%. Q4 Comparable Store Sales Up 17% Globally; U.S. Up 22% with 11% Two-Year Growth Additionally, the majority of these costs will be recognized over a finite period of time. There was no impact to consolidated net revenues, consolidated operating income or net earnings per share as a result of these changes. All rights reserved. Management excludes transaction and integration costs, primarily amortization, of the acquired intangible assets for reasons discussed above. You can sign up for additional subscriptions at any time. Greg Smith Includes only Starbucks company-operated stores open 13 months or longer. To receive notifications via email, enter your email address and select at least one subscription below. 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. 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. Looking back at the last 5 years, Starbucks's return on assets peaked in September 2018 at 23.5%. Maggie Jantzen Includes 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. Beginning in September, the company supported communities across North America and the Caribbean that were impacted by this year's hurricane season. Includes amortization expense of acquired intangible assets associated with the acquisition of East China. Starbucks UK registered EMEA business and UK Coffee Company today filed accounts for the financial year ending 3 October 2021. November 03, 2022 1 min read 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 perspective,. GAAP results in fiscal 2019 and fiscal 2018 include items which are excluded from non-GAAP results. Cash and cash equivalents, end of period: Based on: 10-K (reporting date: 2022-10-02) . Today we announce we will be doubling-down on our investments in our partners, the heartbeat of our company. total net revenues. In September, the company sold its 50% ownership interest in Starbucks Coffee Korea Co., Ltd. Joint venture partner, E-Mart Inc., acquired an additional 17.5% interest and Apfin Investment Pte Ltd, an affiliate of GIC Private Limited, which is a Singapore sovereign wealth fund, acquired the remaining 32.5%. Starbucks Reports Record Q4 and Full Year Fiscal 2021 Results 10/28/21 Q4 Consolidated Net Revenues Up 31% to a Record $8.1 Billion Q4 Comparable Store Sales Up 17% Globally; U.S. Up 22% with 11% Two-Year Growth Q4 GAAP EPS $1.49; Non-GAAP EPS of $1.00 Driven by Strong U.S. We know that when we exceed the expectations of our people, they in turn exceed the expectations of our customers - which creates value for all of our stakeholders - our partners, our customers, our communities and our shareholders. Revenue for the quarter ended October 3, 2021 as reported (GAAP) - 14-weeks, Revenue for the quarter ended October 2, 2022 (GAAP) - 13 weeks, Revenue for the year ended October 3, 2021, Revenue for the year ended October 2, 2022 (GAAP) - 52 weeks, Operating Margin for the quarter ended October 3, 2021 as reported (GAAP) - 14-weeks, Operating Margin for the year ended October 3, 2021 as reported (GAAP) - 53-weeks, View source version on businesswire.com: total net revenues, As a % of 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. Starbucks Corporation - Financial Data - Annual Reports Certain numbers may not foot due to rounding convention. Starbucks Reports Q4 Fiscal 2020 Results 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. These expenses are anticipated to be completed within a finite period of time. Starbucks Corporation - Financial Data - Guidance Today, with more than 35,000 stores worldwide, the company is the premier roaster and retailer of specialty coffee in the world. In 2021, Starbucks brought in $29.1 billion in revenue, . In its fiscal year ending September 2021, Starbucks' advertising costs totaled 305.1 million U.S. dollars. investorrelations@starbucks.com, Starbucks Contact, Media: press@starbucks.com. 2022 2021 2020 2019 2018 5-year trend; Net Income before Extraordinaries----- In recent years, Starbucks has expanded exponentially, more than doubling its units over the past 10 years. Starbucks' (NASDAQ:SBUX) 100% Return Could Be Coming At A Cost This decreased 23.65% from a year ago when the company's market capitalization was $137.22 billion. Operating income decreased to $1.1 billion in Q4 FY22 compared to $1.3 billion in Q4 FY21. After submitting your information, you will receive an email. Why are there two opinion letters, and why are the dates after the Starbucks year-end date? The conference call will be webcast, including closed captioning, and can be accessed on the companys website: https://investor.starbucks.com. During its fiscal 2022, the company opened 661 net new company-operated locations in China. GAAP results in fiscal 2021 and fiscal 2020 include items that are excluded from non-GAAP results. press@starbucks.com. Starbucks Reports Q4 and Full Year Fiscal 2022 Results Starbucks earnings preview: US sales growth, China recovery in focus In September, the company unveiled Starbucks Odyssey, a new experience powered by Web3 technology that will offer Starbucks Rewards members, including Starbucks partners (employees) in the U.S., the opportunity to earn and purchase digital collectible assets that will unlock access to new benefits and immersive coffee experiences. Represents costs associated with our restructuring efforts, primarily lease exit costs and asset impairments. SEATTLE-- (BUSINESS WIRE)-- Starbucks Corporation (NASDAQ: SBUX) today reported financial results for its 13-week fiscal fourth quarter and 52-week fiscal year ended September 29, 2019. Please refer to the reconciliation of GAAP measures to non-GAAP measures at the end of this release for more information. a. Leasehold improvements are substantial costs incurred by Starbucks to outfit, remodel, and improve . Additionally, the majority of these costs will be recognized over a finite period of time.