Press release
Starbucks Reports Q4 and Full Year Fiscal 2022 Results
Q4 Consolidated Net Revenues Up 3%; Up 11% on a 13-week basis to a Record $8.4 Billion Q4 Comparable Store Sales Up 7% Globally; Up 11% in the U.S. and
About this update from Starbucks Corporation
[{"type":"text","content":"\nQ4 Consolidated Net Revenues Up 3%; Up 11% on a 13-week basis to a Record $8.4 Billion\n\nQ4 Comparable Store Sales Up 7% Globally; Up 11% in the U.S. and Double Digits Internationally, excluding China\n\nQ4 GAAP EPS $0.76; Non-GAAP EPS of $0.81 Driven by Strong September Performance; Reinvention Materializing\n\nChina Surpasses 6,000 Stores, Pushing Global Store Count to Record 35,711\n\nActive Starbucks® Rewards Membership Up 16% in the U.S. in Q4 to 28.7 Million Members\n\n SEATTLE--(BUSINESS WIRE)--\nStarbucks Corporation (Nasdaq: SBUX) today reported financial results for its 13-week fiscal fourth quarter and 52-week fiscal year ended October 2, 2022. The comparable prior-year periods in fiscal 2021 included 14- and 53-weeks, respectively. 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\nQ4 Fiscal 2022 Highlights\n\n\nGlobal comparable store sales increased 7%, primarily driven by an 8% increase in average ticket\n\n\nNorth America and U.S. comparable store sales increased 11%, driven by a 10% increase in average ticket and a 1% increase in comparable transactions\n\n\nInternational comparable store sales decreased 5%, driven by a 5% decline in comparable transactions and a 1% decline in average ticket; China comparable store sales decreased 16%, driven by a 17% decline in comparable transactions, partially offset by a 1% increase in average ticket\n\n\n\n\nThe company opened 763 net new stores in Q4, ending the period with 35,711 stores globally: 51% company-operated and 49% licensed\n\n\nAt the end of Q4, stores in the U.S. and China comprised 61% of the company’s global portfolio, with 15,878 stores in the U.S. and 6,021 stores in China\n\n\n\n\nConsolidated net revenues up 3%, or 11% on a 13-week basis, to a record $8.4 billion, inclusive of a 3% unfavorable impact from foreign currency translation\n\n\nGAAP operating margin of 14.2% decreased 400 basis points from 18.2% in the prior year, primarily driven by investments and growth in labor including enhanced store partner wages as well as increased spend on new partner training, inflationary pressures, coupled with sales deleverage related to COVID-19 restrictions in China, partially offset by s...