Second, a reminder that Starbucks fiscal year 2021 is a 53-week year instead of the usual 52 weeks. GAAP results in fiscal 2021 and fiscal 2020 include items that are excluded from non-GAAP results. Presented below are excerpts from Note 1 to Starbucks' September 30, 2012, consolidated financial statements in which Starbucks describes accounting policy for long-lived assets. Generally, these statements can be identified by the use of words such as aim, anticipate, believe, continue, could, estimate, expect, feel, forecast, intend, may, outlook, plan, potential, predict, project, seek, should, will, would, and similar expressions intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. SEATTLE-- (BUSINESS WIRE)-- Starbucks Corporation (Nasdaq: SBUX) plans to release its fourth quarter and fiscal year end 2021 financial results after the market close on Thursday, October 28, 2021, with a conference call to follow at 2:00 p.m. Pacific Time. These measures should not be considered in isolation or as a substitute for analysis of the companys results as reported under GAAP. Global coffeehouse chain Starbucks reported a net income amounting to 3.28 billion U.S. dollars during the 2022 financial year. That was a relief for investors . These forward-looking statements do not represent historical data, are based on currently available operating, financial and competitive information and are subject to a number of significant risks and uncertainties. Net revenues for the Channel Development segment grew 10% (16% on a 13-week basis) over Q4 FY21 to $483.7 million in Q4 FY22, driven by growth in the Global Coffee Alliance and global ready-to-drink business, partially offset by the extra week in Q4 FY21. The growth in the number of its retail stores is one of the primary drivers of Starbucks' remarkable rate of growth in revenues. A company's fiscal year is its financial year; it is any 12-month period that the company uses for accounting purposes. The two-year comparable store sales metric discussed in today's investor conference call is calculated as ((1 + % change in comparable store sales in FY20) * (1 + % change in comparable store sales in FY21)) - 1. Management excludes transaction and integration costs, primarily amortization, of the acquired intangible assets for reasons discussed above. The GAAP measures most directly comparable to non-GAAP G&A, non-GAAP operating income, non-GAAP operating income growth, non-GAAP operating margin, non-GAAP effective tax rate and non-GAAP earnings per share are general and administrative expenses, operating income, operating income growth, operating margin, effective tax rate and diluted net earnings per share, respectively. Performance Comparable store sales exclude the effects of fluctuations in foreign currency exchange rates and Siren Retail stores. About Entourage Health Corp. All values USD Millions. 2021 Starbucks Corporation. Global comparable store sales increased 17%, driven by a 15% increase in comparable transactions and a 2% increase in average ticket, North America comparable store sales increased 22%, primarily driven by an 18% increase in comparable transactions and a 3% increase in average ticket; U.S. comparable store sales increased 22%, driven by a 19% increase in comparable transactions and a 3% increase in average ticket, International comparable store sales increased 3%, driven by a 6% increase in comparable transactions, partially offset by a 2% decline in average ticket; China comparable store sales decreased 7%, driven by a 5% decline in average ticket and a 2% decline in transactions; International and China comparable store sales include adverse impacts of approximately 3% and 4%, respectively, from lapping prior-year value-added tax exemptions in China, The company opened 538 net new stores in the fourth quarter of fiscal 2021, yielding 4% year-over-year unit growth, ending the period with a record 33,833 stores globally, of which 51% and 49% were company-operated and licensed, respectively, Stores in the U.S. and China comprised 62% of the companys global portfolio at the end of the fourth quarter of fiscal 2021, with 15,450 and 5,360 stores, respectively, Consolidated net revenues of $8.1 billion grew 31% (22% on a 13-week basis, GAAP operating margin of 18.2% increased from 9.0% in the prior year primarily driven by sales leverage from business recovery and the lapping of COVID-19 related costs in the prior year as well as pricing in North America, partially offset by increased supply chain costs due to inflationary pressures; GAAP operating margin also benefited from lapping the higher restructuring activities in the prior year primarily associated with the North America Trade Area Transformation, Non-GAAP operating margin of 19.6% increased from 13.2% in the prior year, GAAP earnings per share of $1.49 grew from $0.33 in the prior year including a $0.56 gain on the divestiture of our South Korea joint venture and $0.10 related to the extra week in Q4 fiscal 2021, Non-GAAP earnings per share of $1.00 grew from $0.51 in the prior year including $0.10 related to the extra week in Q4 fiscal 2021, Starbucks Rewards loyalty program 90-day active members in the U.S. increased to 24.8 million, up 28% year-over-year, Global comparable store sales increased 20%, primarily driven by a 10% increase in average ticket and a 9% increase in comparable transactions, North America comparable store sales increased 22%, primarily driven by a 13% increase in average ticket and a 7% increase in comparable transactions; U.S. comparable store sales increased 21%, driven by a 13% increase in average ticket and an 8% increase in comparable transactions, International comparable store sales were up 16%, driven by a 14% increase in comparable transactions and a 1% increase in average ticket; China comparable store sales increased 17%, driven by a 19% increase in comparable transactions and a 2% decrease in average ticket, Consolidated net revenues of $29.1 billion increased 24% (21% on a 52-week basis) from the prior year mainly driven by a 20% increase in comparable store sales primarily from lapping the unfavorable impact of business disruption in the prior year due to the COVID-19 pandemic, GAAP operating margin of 16.8%, up from 6.6% in the prior year primarily driven by sales leverage from business recovery and the lapping of COVID-19 related costs in the prior year as well as pricing in North America, partially offset by additional investments and growth in wages and benefits for store partners, Non-GAAP operating margin of 18.1%, up from 9.1% in the prior year, GAAP earnings per share of $3.54 grew from $0.79 in the prior year including a $0.56 gain on the divestiture of our South Korea joint venture and $0.10 related to the 53rd week in fiscal 2021, Non-GAAP earnings per share of $3.24 grew from $1.17 in the prior year including $0.10 related to the 53rd week in fiscal 2021. It reported a record $2.8 billion profit last year and could be valued at $13 billion. There was no impact to consolidated net revenues, consolidated operating income or net earnings per share as a result of these changes. Includes only Starbucks company-operated stores open 13 months or longer. GAAP results in fiscal 2020 and fiscal 2019 include items that are excluded from non-GAAP results. Through our unwavering commitment to excellence and our guiding principles, we bring the unique Starbucks Experience to life for every customer through every cup. Includes only Starbucks company-operated stores open 13 months or longer. and Integration- (1) For additional reconciliations of the extra week in fiscal 2021, please see the Supplemental Financial Data section of our Investor Relations website at http://investor.starbucks.com. (unaudited, in millions, except per share data), Net gain resulting from divestiture of certain operations, Net earnings including noncontrolling interests, Net earnings attributable to noncontrolling interests, Weighted avg. by Summer 2022. View source version on businesswire.com: Maggie Jantzen Active Starbucks Rewards Membership in the U.S. Up 21% Year-Over-Year to 26.4 Million SEATTLE; February 1, 2022 - Starbucks Corporation (NASDAQ: SBUX) today reported financial results for its 13-week fiscal first quarter ended January 2, 2022. We anticipate that our strong business momentum, increased operating efficiency and continued global store expansion will fund these unprecedented investments while delivering yet another year of significant growth, concluded Johnson. GAAP results in fiscal 2019 and fiscal 2018 include items which are excluded from non-GAAP results. In addition, the company will also prioritize action in high-risk basins to support watershed health and actively address ecosystem resilience and water equity. Management excludes the gain related to the sale of our South Korea joint venture operations as this incremental gain was specific to the sale activity and for reasons discussed above. All rights reserved. Please refer to the reconciliation of GAAP measures to non-GAAP measures at the end of this release for more information. Nestl Transaction and Integration-Related Costs, International transaction and integration-related items (2). These integration costs will remain in our non-GAAP measures; non-GAAP measures for the quarter ended October 3, 2021 have been recast to reflect this change. Represents costs associated with our restructuring efforts, primarily severance and asset impairments related to certain company-operated store closures and impairment of certain corporate assets. Since 1971, Starbucks Coffee Company has been committed to ethically sourcing and roasting high-quality arabica coffee. For fiscal 2021, comparable store sales percentages were calculated excluding the extra week in the fourth quarter of fiscal 2021. Non-GAAP G&A as a percentage of total net revenues for the fourth quarter of fiscal 2021 was 6.0%. For example, Fiscal Year 2021 (FY 2021). Our strong finish to fiscal 2021, including record performance in the fourth quarter, demonstrates the resilience of Starbucks and reinforces the value of the bold strategic moves we have taken over the past two years. Serving as Starbucks Chinas chief operating officer and president of Starbucks Retail for the last five years, Mr. Tsoi has led efforts to grow Starbucks footprint across the Chinese mainland to 5,300 stores across more than 200 cities today. You must click the link in the email to activate your subscription. Includes amortization expense of acquired intangible assets associated with the acquisition of East China. Refer to the Starbucks Investor Relations website for additional information regarding historical non-GAAP information. With Starbucks' fiscal year ending in September, its ongoing FY is 2022 while Chipotle's is 2021. Represents costs associated with the Global Coffee Alliance with Nestl. Starbucks Reports Q4 and Full Year Fiscal 2022 Results, Contact Information and Shareholder Assistance, https://www.businesswire.com/news/home/20221103005251/en/, Global comparable store sales increased 7%, primarily driven by an 8% increase in average ticket, North America and U.S. comparable store sales increased 11%, driven by a 10% increase in average ticket and a 1% increase in comparable transactions, International 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, The company opened 763 net new stores in Q4, ending the period with 35,711 stores globally: 51% company-operated and 49% licensed, At the end of Q4, stores in the U.S. and China comprised 61% of the companys global portfolio, with 15,878 stores in the U.S. and 6,021 stores in China, Consolidated 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, GAAP 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 strategic pricing, primarily in North America and sales leverage across markets outside of China, Non-GAAP operating margin of 15.1% decreased from 19.5% in the prior year, or 18.9% on a 13-week basis, GAAP earnings per share of $0.76, down from $1.49 in the prior year, Non-GAAP earnings per share of $0.81, down from $0.99 in the prior year, or $0.89 on a 13-week basis, Starbucks Rewards loyalty program 90-day active members in the U.S. increased to 28.7 million, up 16% year-over-year, Global comparable store sales increased 8%, driven by a 5% increase in average ticket and a 2% increase in comparable transactions, North America comparable store sales increased 12%, driven by a 7% increase in average ticket and a 5% increase in comparable transactions; U.S. comparable store sales increased 12%, driven by an 8% increase in average ticket and a 4% increase in comparable transactions, International comparable store sales decreased 9%, driven by a 5% decline in comparable transactions and a 4% decline in average ticket; China comparable store sales decreased 24%, driven by a 22% decline in comparable transactions and a 3% decline in average ticket, Consolidated net revenues up 11%, or 13% on a 52-week basis, to a record $32.3 billion, inclusive of a 2% unfavorable impact from foreign currency translation, GAAP operating margin of 14.3% decreased 250 basis points from 16.8% in the prior year, primarily driven by investments and growth in labor including enhanced store partner wages, inflationary pressures, as well as sales deleverage related to COVID-19 restrictions in China, partially offset by sales leverage across markets outside of China and strategic pricing, primarily in North America, Non-GAAP operating margin of 15.1% decreased from 18.0% in the prior year, or 17.8% on a 52-week basis, GAAP earnings per share of $2.83, down from $3.54 in the prior year, Non-GAAP earnings per share of $2.96, down from $3.20 in the prior year, or $3.10 on a 52-week basis. GAAP results in fiscal 2021 and fiscal 2020 include items that are excluded from non-GAAP results. RECONCILIATION OF SELECTED GAAP MEASURES TO NON-GAAP MEASURES, (unaudited, in millions except per share data), Transaction and integration-related costs (4), Nestl transaction and integration-related costs (5), Diluted net earnings per share, as reported (GAAP), Gain resulting from divestiture of certain company-operated business and joint venture operations, Income tax effect on Non-GAAP adjustments (6). To share in the experience, please visit us in our stores or online at stories.starbucks.com or www.starbucks.com. Here is a crucial point related to the US Fiscal year, i.e., Before 1976, the fiscal year started on July 1 and ended on Jun 30 of the next calendar year. The Congressional Budget and Impoundment Control Act changed what is known as . Management excludes these items for reasons discussed above. The company assumes no obligation to update any of these forward-looking statements. Does its policy for determining useful lives in the presence of. Cash and cash equivalents, end of period: Based on: 10-K (reporting date: 2022-10-02) . Looking back at the last 5 years, Starbucks's return on assets peaked in September 2018 at 23.5%. SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION: The following supplemental information is provided for historical and comparative purposes. Corporate and Other primarily consists of our unallocated corporate operating expenses and Evolution Fresh. Comparable store sales exclude the effects of fluctuations in foreign currency exchange rates, stores identified for permanent closure and Siren Retail stores. Through our unwavering commitment to excellence and our guiding principles, we bring the unique Starbucks Experience to life for every customer through every cup. Operating margin of 12.2% contracted from 19.7% in the prior year, primarily driven by sales deleverage related to COVID-19 restrictions in China, lower government subsidies as well as investments in store partners. All rights reserved. Starbucks now expects global revenue growth in the range of 10% to 12% annually from fiscal 2023 to fiscal 2025. Cash provided by/(used in) changes in operating assets and liabilities: Net cash provided by operating activities, Additions to property, plant and equipment, Net proceeds from the divestiture of certain operations, Net proceeds/(payments) from issuance of commercial paper, Net proceeds from issuance of short-term debt, Minimum tax withholdings on share-based awards, Net cash provided by/(used in) financing activities, Effect of exchange rate changes on cash and cash equivalents, Net increase/(decrease) in cash and cash equivalents. The company also expects its global same-store sales growth on the. Management excludes the gain related to the sale of Evolution Fresh, as well as our South Korea and Russia joint venture operations as these incremental gains were specific to the sale activity and for reasons discussed above. In October, the company announced a strategic partnership with Delta Air Lines that will offer members of Delta SkyMiles and Starbucks Rewards, two of Americas most highly regarded loyalty programs, the ability to unlock even more ways to earn rewards at Delta and Starbucks. Management excludes the transaction and integration-related costs related to the Global Coffee Alliance with Nestl (inclusive of incremental costs to grow and develop the alliance) for reasons discussed above. Starbucks is entering fiscal year '22 with strong customer demand and solid momentum in our U.S. business, and expanding and accelerating in-store channels and digital flywheel and green. Nestl transaction and integration-related costs. SEATTLE--(BUSINESS WIRE)-- We saw accelerating demand for Starbucks coffee around the world in Q4 and throughout the year, said Howard Schultz, interim chief executive officer. In 2021, Starbucks brought in $29.1 billion in revenue, . Additionally, the majority of these costs will be recognized over a finite period of time. In August, the company expanded this goal to include global operations, agricultural supply chain and packaging, increasing the projected water conserved or replenished and addressing some of the biggest impacts on the company's water footprint. Approaches 25 million, Up 28% Year-Over-Year In August, the company announced the promotion of Leo Tsoi to chief executive officer of Starbucks China. Net revenues for the North America segment grew 37% (27% on a 13-week basis) over Q4 FY20 to $5.8 billion in Q4 FY21, primarily driven by a 22% increase in company-operated comparable store sales, driven primarily due to lapping the unfavorable impact of business disruption in the prior year due to the COVID-19 pandemic and incremental revenue from the extra week in Q4 fiscal 2021. Q4 Comparable Store Sales Up 17% Globally; U.S. Up 22% with 11% Two-Year Growth 206-318-7100 This figure represents an increase in global advertising investments compared to. These measures should not be considered in isolation or as a substitute for analysis of the companys results as reported under GAAP. The U.S. federal government's fiscal year begins on 1 October of the previous calendar year and ends on 30 September of the year with which it is numbered. In September, the company sold its 50% ownership interest in Starbucks Coffee Korea Co., Ltd. Joint venture partner, E-Mart Inc., acquired an additional 17.5% interest and Apfin Investment Pte Ltd, an affiliate of GIC Private Limited, which is a Singapore sovereign wealth fund, acquired the remaining 32.5%. Starbucks total assets for 2021 were $31.393B, a 6.87% increase from 2020. Stores that are temporarily closed or operating at reduced hours due to the COVID-19 pandemic remain in comparable store sales while stores identified for permanent closure have been removed. Other companies may calculate these non-GAAP financial measures differently than the company does, limiting the usefulness of those measures for comparative purposes. Starbucks Corporation (NASDAQ: SBUX) today reported financial results for its 14-week fiscal fourth quarter ended October 3, 2021. The impact of the 53rd week will be reflected in results for the fourth quarter. These expenses are anticipated to be completed within a finite period of time. GAAP results in fiscal 2022 and fiscal 2021 include items that are excluded from non-GAAP results. A replay of the webcast will be available on the companys website until end of day, Friday, November 26, 2021. Sale of certain company-operated business and joint venture operations. Comparable store sales exclude Siren Retail stores. Integration costs, primarily related to information technology investments and compensation-related programs, are deemed to be representative of ongoing operations. Such statements are based on currently available operating, financial and competitive information and are subject to various risks and uncertainties. Related Costs, Correction of prior year estimated tax expense (6), Income tax effect on Non-GAAP adjustments (7). Today, with stores around the globe, the Company is the premier roaster and retailer of specialty coffee in the world. 2022 2021 2020 2019 2018 5-year trend; Net Income before Extraordinaries----- Through it all, we have thoughtfully navigated a strong recovery with an eye towards our future, all guided by our Mission and Values, said Kevin Johnson, president and ceo. total net revenues. Net stores opened/(closed) and transferred during the period. A period that is set from January 1 to December 31 is called a calendar year. The number of Starbucks stores worldwide exceeded 35 thousand in 2022. Generally, the fiscal year in the USA starts from Oct 1 st to SEP 30 th of the next calendar year or 365 days. Stores that are temporarily closed or operating at reduced hours due to the COVID-19 pandemic remain in comparable store sales while stores identified for permanent closure have been removed. Starbucks forecasts a bit lower comp figure for its next fiscal year at 3% to 4%. SEATTLE - Starbucks Corporation (NASDAQ: SBUX) today reported financial results for its 14-week fiscal fourth quarter ended October 3, 2021. In September, the company unveiled Starbucks Odyssey, a new experience powered by Web3 technology that will offer Starbucks Rewards members, including Starbucks partners (employees) in the U.S., the opportunity to earn and purchase digital collectible assets that will unlock access to new benefits and immersive coffee experiences. In September and October, Mary N. Dillon and Javier Teruel resigned from the company's Board of Directors. All rights reserved. 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 Double Digits Internationally, excluding China, Q4 GAAP EPS $0.76; Non-GAAP EPS of $0.81 Driven by Strong September Performance; Reinvention Materializing, China Surpasses 6,000 Stores, Pushing Global Store Count to Record 35,711, Active Starbucks Rewards Membership Up 16% in the U.S. in Q4 to 28.7 Million Members. Such items may include acquisitions, divestitures, restructuring and other items. As we execute on our Reinvention plan, we are building on our 51-year history of market leading innovation to position our business and our brand for the next chapter of growth, said Schultz. Fair Value - The fair Value is assessed in three different levels in which determine assets and liabilities recorded or discloses on a recurring basis. Certain statements contained herein and in our investor conference call related to these results are forward-looking statements within the meaning of the applicable securities laws and regulations. total net revenues, As a % of The Board of Directors declared a cash dividend of $0.53 per share, payable on November 25, 2022, to shareholders of record as of November 11, 2022. Please remember that Starbucks fiscal year 2021 is a 53-week year instead of the usual 52 weeks. Starbucks has a market capitalization of $104.76 billion as of September 2022. The company is unable to reconcile these forward-looking non-GAAP financial measures to the most directly comparable GAAP measures without unreasonable efforts because the company is currently unable to predict with a reasonable degree of certainty the type and extent of certain items that would be expected to impact GAAP measures for these periods but would not impact the non-GAAP measures. Management excludes these items for reasons discussed above. GAAP results in fiscal 2022 and fiscal 2021 include items that are excluded from non-GAAP results. Starbucks also projected earnings per share in the range of $2.84 to $2.89 in the coming fiscal year compared to . Operating margin also benefited from lower restructuring expenses primarily associated with the North America Trade Area Transformation. After submitting your information, you will receive an email. The company announced a new commitment of returning $20 billion to shareholders over the next three years through share repurchases and dividends. press@starbucks.com. In September, the company hosted its biennial Investor Day in Seattle where Starbucks leaders, including interim ceo, Howard Schultz, cfo, Rachel Ruggeri, and other executive leaders showcased the companys Reinvention plan and growth strategy for the next three years. Operating margin of 18.6% contracted from 21.8% 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, coupled with higher commodity and supply chain costs due to inflationary pressures. Non-GAAP G&A, non-GAAP operating income, non-GAAP operating income growth, non-GAAP operating margin, non-GAAP effective tax rate and non-GAAP earnings per share may have limitations as analytical tools. Starbucks annual revenue for 2022 was $32.25B, a 10.98% increase from 2021.

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