Press release
Starbucks Outlines Vision for the Future and Reaffirms Strategy for Continued Growth at Scale, Updates Ongoing Growth Model Signaling Company is Stronger and More Resilient Than Ever
Reaffirms guidance supporting significant rebound in FY21 Signals outsized growth for FY22, with non-GAAP EPS growing more than 20% Expects ongoing non-GAAP
About this update from Starbucks Corporation
[{"type":"text","content":"\n\nReaffirms guidance supporting significant rebound in FY21\n\n\nSignals outsized growth for FY22, with non-GAAP EPS growing more than 20% \n\n\nExpects ongoing non-GAAP EPS growth of 10% to 12% in FY23 and FY24\n\n\nUpdates aspects of ongoing growth algorithm, including increasing ranges for global comparable store sales growth, revenue growth and non-GAAP operating margin \n\n\nAffirms commitment to planet positive future with new investments in eco-friendly operations, regenerative agricultural practices and environmentally friendly menus \n\n\n \n\n SEATTLE--(BUSINESS WIRE)--\nStarbucks (NASDAQ: SBUX) today hosted its biennial Investor Day virtually. Chief executive officer Kevin Johnson and other Starbucks leaders outlined a vision for the future and discussed the company’s progress against its Growth at Scale agenda. With a focus on creating value for all stakeholders, Starbucks believes that responsible growth includes doing the right thing for both people and the planet. The company also provided updates to its ongoing growth model and aims to drive consistent and predictable sales growth and margin expansion while continuing to create significant value for all stakeholders.\n\n“We are a purpose-driven company with a mission grounded in the human experience as we seek to have a positive impact on both people and the planet, while profitably growing our business,” said Johnson. “Over the past two years, we have further streamlined the company, sharpened our focus on accelerating growth in our two lead markets of the U.S. and China, and expanded our global reach through the Global Coffee Alliance with Nestlé while increasing returns to all of our stakeholders. Looking ahead, coffee remains a very large and attractive market that is growing globally. We are focused on growing category share and believe Starbucks is better positioned than ever for continued success.”\n\nStarbucks leadership team emphasized caring for partners (employees) as a key building block of the company’s strategy, alongside a continued focus on creating uplifting experiences for customers while playing a positive role in communities and neighborhoods worldwide. Through the lens of this commitment, Starbucks leaders discussed the decisive actions the company has taken since the onset of the COVID-19 pandemic, rapidly adapting in the dynamic environme...