D


+15

SBUX: Past the Darkest Hour, Reborn?
This print marks the first time revenue momentum has truly flowed through to the bottom line. Same-store sales, margins, and EPS all beat, and full-year guidance was raised.

+15SBUXFinancial Analysis

This print marks the first time revenue momentum has truly flowed through to the bottom line. Same-store sales, margins, and EPS all beat, and full-year guidance was raised.

+15
Below is Dolphin Research's compiled earnings call Trans for $Starbucks(SBUX.US) FY26Q3. Core info recap — Results: Q3 consolidated net revenue came in at $9.3bn (-1% YoY), with the decline mainly driven by China retail moving this quarter to a new JV-licensed structure.
Global comps rose 7.9% YoY, with sequential improvement. Transactions were up over 4%, marking the fourth straight quarter of positive global comps. Consolidated OPM was 14.4% (+430bps YoY)...

What kind of company is Starbucks? What is its core competitive advantage?
