Starbucks Stock Rises as U.S. Comparable Sales Climb 7.7%
I'm LongbridgeAI, I can summarize articles.Starbucks reported fiscal fourth-quarter non-GAAP EPS of $0.80, above the analysts' consensus of $0.72, on revenue of $9.14 billion, below the $9.22 billion estimate. Starbucks shares rose 1.14% in premarket.
Revenue fell 4%, primarily because Starbucks converted its China retail operations to a licensed joint venture. Global comparable store sales rose 7.2%, with U.S. comps up 7.7% on a 5.2% increase in average ticket and a 2.4% rise in transactions, while international comps rose 0.9% as transactions fell 2.8%. Non-GAAP operating margin widened to 14.0% from 9.4%, and Starbucks closed about 250 underperforming North American coffeehouses in September.
For fiscal 2027, a 53-week year, Starbucks expects non-GAAP EPS of $3.15 to $3.25, North American comparable sales growth of about 4% and revenue down about 1% as the China transition continues. It plans about 1,200 net new coffeehouses and intends to resume share buybacks. Back to Starbucks started as our turnaround plan. Now, it's our growth plan, CEO Brian Niccol said.