Press release
Starbucks Reports Q2 Fiscal 2022 Results
Consolidated Net Revenues Up 15% to a Q2 record $7.6 Billion Q2 Comparable Store Sales Up 7% Globally; Up 12% in the U.S. and Double Digits Internationally,
About this update from Starbucks Corporation
[{"type":"text","content":"\nConsolidated Net Revenues Up 15% to a Q2 record $7.6 Billion\nQ2 Comparable Store Sales Up 7% Globally; Up 12% in the U.S. and Double Digits Internationally, ex-China\nQ2 GAAP EPS $0.58; Non-GAAP EPS of $0.59, Despite Lockdowns in China and Inflationary Headwinds\nActive Starbucks® Rewards Membership in Q2 Up 17% in the U.S. to 26.7 Million Members\n\n SEATTLE--(BUSINESS WIRE)--\nStarbucks Corporation (NASDAQ: SBUX) today reported financial results for its 13-week fiscal second quarter ended April 3, 2022. GAAP results in fiscal 2022 and fiscal 2021 include items that 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\nQ2 Fiscal 2022 Highlights\n\n\nGlobal comparable store sales increased 7%, driven by a 4% increase in average ticket and a 3% increase in comparable transactions\n\n\nNorth America and U.S. comparable store sales increased 12%, driven by a 7% increase in average ticket and a 5% increase in comparable transactions\n\n\nInternational comparable store sales decreased 8%, driven by a 5% decline in average ticket and a 3% decline in comparable transactions; China comparable store sales decreased 23%, driven by a 20% decline in comparable transactions and a 4% decline in average ticket\n\n\nInternational and China comparable store sales include the unfavorable impact of approximately 3% and 4%, respectively, from lapping prior-year value-added tax (“VAT”) exemptions in China\n\n\n\n\nThe company opened 313 net new stores in Q2, ending the period with 34,630 stores globally: 51% company-operated and 49% licensed\n\n\nAt the end of Q2, stores in the U.S. and China comprised 61% of the company’s global portfolio, with 15,544 stores in the U.S and 5,654 stores in China\n\n\n\n\nConsolidated net revenues up 15% to a Q2 record $7.6 billion\n\n\nGAAP operating margin of 12.4% decreased 240 basis points from 14.8% in the prior year, primarily driven by inflationary pressures, mobility restrictions and lockdowns in China and investments in retail store partner wages and benefits, partially offset by pricing in North America and lapping restructuring costs in the prior year\n\n\nNon-GAAP operating margin of 13.0% decreased from 16.0% in the prior year\n\n\n\n\nGAAP earnings per share of $0.58 grew 4% over the prior year\...