Please see our filings with the SEC including our last annual report on Form 10-K for the fiscal year ended September 27, 2020 and our quarterly reports for a discussion of specific risks that may affect our performance and financial condition. Starbucks Corporation (NASDAQ: SBUX) today reported financial results for its 13-week fiscal second quarter ended March 29, 2020. The company … Transaction and 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 introduces the following fiscal 2021 guidance for Q1 and the full year. 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. Integration Costs, Nestlé Transaction Comparable store sales exclude the effects of fluctuations in foreign currency exchange rates and Siren Retail stores. These expenses are anticipated to be completed within a finite period of time. •October 15, 2020. 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. 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. Durga Doraisamy Active Starbucks® Rewards Membership in the U.S. Up 10% Year-Over-Year to 19.3 Million Comparable-store sales declined 14% in fiscal year 2020 compared to the prior year. 5. The call will be webcast and can be accessed at http://investor.starbucks.com. SEATTLE--(BUSINESS WIRE)--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. 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 year earlier. Net gain resulting from divestiture of certain operations, Net loss attributable to noncontrolling interests, As a % of In fiscal year 2022, it will likely be closer to 3 percent and 6 percent, respectively. Please refer to the reconciliation of GAAP measures to non-GAAP measures at the end of this release for more information. Comparable-store sales declined 14% in fiscal year 2020 compared to the prior year. Such items may include acquisitions, divestitures, restructuring and other items. Please note that Starbucks fiscal year 2021 is a 53-week year instead of the usual 52 weeks. 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. Restructuring, Refer to the Starbucks Investor Relations website for additional information regarding historical non-GAAP information. 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. (unaudited, in millions, except per share data), Net earnings including noncontrolling interests, Net earnings/(loss) attributable to noncontrolling interests, Weighted avg. 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. Impairment & 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. Optimization Costs, International Starbucks Corporation (NASDAQ: SBUX) today reported financial results for its 13-week fiscal third quarter ended June 28, 2020. The results from Siren Retail operations are not reflected in comparable store sales. 206-318-7100 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 … The unavailable information could have a significant impact on the company’s GAAP financial results. The impact of the 53rd week will be reflected in our results for the fourth quarter in fiscal 2021. “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. The conference call will be webcast, including closed captioning, and … https://www.businesswire.com/news/home/20201029006207/en/, Starbucks Contact, Investor Relations: 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. Non-GAAP G&A as a percentage of total net revenues for the fourth quarter of fiscal 2020 was 7.0%. SEATTLE--(BUSINESS WIRE)- … Additionally, the majority of these costs will be recognized over a finite period of time. 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. At the end of Q4 FY20, approximately 98% of our global company-operated store portfolio was open, with 97% in the U.S. and 99% in China, as well as 99% in Japan and 97% in Canada. Net revenues for the Channel Development segment of $464.0 million in Q4 FY20 were 9% lower relative to Q4 FY19. 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. 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. To share in the experience, please visit us in our stores or online at stories.starbucks.com or www.starbucks.com. Fiscal 2021 Outlook Reaffirms Path to Full Recovery. The International segment reported operating income of $179.5 million in Q4 FY20 compared to $262.7 million in Q4 FY19. shares outstanding - diluted, Store operating expenses as a % of company-operated store revenues, Effective tax rate including noncontrolling interests. Represents costs associated with our restructuring efforts, primarily severance and asset impairments related to certain company-operated store closures. Operating income increased 4% to $197.9 million in Q4 FY20, up from $190.9 million in Q4 FY19. Comparable store sales include stores that were temporarily closed as a result of the COVID-19 outbreak and exclude stores identified for permanent closure. Related Costs, Restructuring, Through our unwavering commitment to excellence and our guiding principles, we bring the unique Starbucks Experience to life for every customer through every cup. 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 conference call will be webcast, including closed captioning, and can be accessed on the company’s website: http://investor.starbucks.com . These measures should not be considered in isolation or as a substitute for analysis of the company’s results as reported under GAAP. The impact of the 53rd week will be reflected in our results for the fourth quarter of fiscal 2021. 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. 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 … 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. 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. Starbucks expects adjusted earnings growth of at least 20% in fiscal 2022. 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). Management excludes these items for reasons discussed above. Nestlé transaction and integration-related costs. Starbucks is seeing a sharp rebound this fiscal year: adjusted EPS should return to a range of $2.70 to $2.90. In overcaffeinated fashion, Starbucks shot straight past five-year planning to project that it will grow to 55,000 stores from 33,000 by its fiscal year ending in September 2030. 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