Press release
Starbucks Reports Q1 Fiscal 2020 Results
Q1 Comparable Store Sales Up 5% Globally, Led by 6% Comp Growth in the U.S. and 3% Comp Growth in China Global Net Store Growth of 6% Versus Prior Year, Led
About this update from Starbucks Corporation
[{"type":"text","content":"\nQ1 Comparable Store Sales Up 5% Globally, Led by 6% Comp Growth in the U.S. and 3% Comp Growth in China\n\n\nGlobal Net Store Growth of 6% Versus Prior Year, Led by 16% Net Store Growth in China\n\n\nGAAP EPS of $0.74; Non-GAAP EPS of $0.79\n\n\nActive Starbucks® Rewards Membership in the U.S. Up 16% Year-Over-Year to 18.9 Million\n\n SEATTLE--(BUSINESS WIRE)--\nStarbucks Corporation (NASDAQ: SBUX) today reported financial results for its 13-week fiscal first quarter ended December 29, 2019. GAAP results in fiscal 2020 and fiscal 2019 include items which are excluded from non-GAAP results. Please refer to the reconciliation of GAAP measures to non-GAAP measures at the end of this release for more information.\n\n\n“Building on solid business momentum from fiscal 2019, Starbucks performed very well throughout the first quarter, including one of the strongest holiday seasons in the history of our company. As a result, we are off to a strong start in fiscal 2020,” said Kevin Johnson, president and ceo. “Our growth was fueled by a healthy balance of comparable sales growth and new store development, as well as continued expansion of our Global Coffee Alliance with Nestlé. Investments in our partners, beverage innovation and digital customer relationships contributed not only to strong topline growth, but also significant margin expansion in the quarter.”\n\n\n“Our partners are the center of creating a special Starbucks Experience for each and every customer we serve, and I am very grateful for their extraordinary efforts through this holiday quarter. As we begin our fiscal second quarter, I want to acknowledge the dynamic situation our partners in China are navigating as health officials respond to the coronavirus. As events unfold, we will be transparent with all stakeholders in communicating how we are responding to these extraordinary circumstances and the implications for our near-term business results. We remain optimistic and committed to the long-term opportunity in China, building on our brand heritage and 20-year legacy of profitable growth,” concluded Johnson.\n\n\nQ1 Fiscal 2020 Highlights\n\n\n\nGlobal comparable store sales up 5%, driven by a 3% increase in average ticket and a 2% increase in comparable transactions\n\n\nAmericas comparable store sales up 6%, driven by a 3% increase in average ticket and a 2% increase...