Starbucks posts 7.2% global same‑store sales growth, beats EPS but revenue falls on China JV shift
Starbucks reported fiscal Q4 2026 global comparable coffeehouse sales up 7.2% on a reported basis, while consolidated net revenues fell 4% year‑over‑year, driven by the conversion of its China retail operations to a licensed joint‑venture. GAAP earnings per share rose 392% to 59 cents and adjusted earnings per share rose 54% to 80 cents, both beating estimates. The company issued fiscal 2027 guidance of adjusted EPS $3.15‑$3.25 and expects consolidated revenue to decline about 1% year‑over‑year, while projecting operating margin of 13.5%‑14.0% on a reported basis. Management highlighted continued margin expansion and a plan to open roughly 1,200 new stores in FY27.
Why it matters
The earnings beat and higher‑than‑expected adjusted EPS suggest stronger profitability despite the revenue dip, but the revenue‑decline guidance and modest sales outlook signal a potential headwind for top‑line growth. The announced $1 billion share‑repurchase plan and resumed buybacks indicate confidence in cash generation, while the guidance sets expectations for investors on earnings and margin performance in FY27.
Key facts
- 1Global comparable coffeehouse sales increased 7.2% on a reported basis in Q4 2026. stocktitan.net
- 2Consolidated net revenues declined 4% year‑over‑year to $9.1 billion in Q4 2026 on a reported basis. stocktitan.net
- 3GAAP earnings per share rose 392% to $0.59 in Q4 2026. stocktitan.net
- 4Adjusted earnings per share rose 54% to $0.80 in Q4 2026. stocktitan.net
- 5GAAP operating margin expanded to 10.8% in Q4 2026 on a reported basis. stocktitan.net
- 6Non‑GAAP operating margin expanded to 14.0% in Q4 2026 on a reported basis. stocktitan.net
Summary written by AlphAI AI Desk from 20 of 23 sources. Not investment advice. Figures are as stated by the linked sources.