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. Includes only Starbucks company-operated stores open 13 months or longer. 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. These key operating metrics are important indicators for the growth of the business and the effectiveness of the company's marketing and operational strategies. During its fiscal 2022, the company opened 661 net new company-operated locations in China. Looking back at the last 5 years, Starbucks's return on assets peaked in September 2018 at 23.5%. Second, a reminder that Starbucks fiscal year 2021 is a 53-week year instead of the usual 52 weeks. 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. The unavailable information could have a significant impact on the companys GAAP financial results. Nestl transaction and integration-related costs. Reinvention will touch, and elevate, every aspect of our Starbucks partner, customer and store experiences, and ideally position Starbucks to deliver accelerated, sustainable, long-term, profitable growth and value creation beginning in 2023, Schultz added. 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. The federal government's fiscal year runs from the first day of October of one calendar year through the last day of September of the next. Accounting Policies - Business 290 - STARBUCKS - Google Sites Starbucks UK registered EMEA businesses and UK Coffee Company today filed accounts for the financial year ending 27 September 2020, reflecting the peak of the COVID-19 crisis including full store closures and limited operations across the region. Starbucks Corporation (Nasdaq: SBUX) today reported financial results for its 13-week fiscal fourth quarter and 52-week fiscal year ended October 2, 2022. We know that when we exceed the expectations of our people, they in turn exceed the expectations of our customers - which creates value for all of our stakeholders - our partners, our customers, our communities and our shareholders. The company also expects its global same-store sales growth on the. 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. 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. In fiscal Year 4, total revenues exceeded $5.3 billion, representing a 30 percent growth rate over fiscal Year 3 revenues of $4.1 billion. This figure. 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 Corporation (Nasdaq: SBUX) today reported financial results for its 13-week fiscal first quarter ended January 1, 2023. To receive notifications via email, enter your email address and select at least one subscription below. The company uses its website as a tool to disclose important information about the company and comply with its disclosure obligations under Regulation Fair Disclosure. The company realigned the fully licensed Latin America and Caribbean markets from the Americas operating segment to the International operating segment. The impact of the 53rd week will be reflected in results for the fourth quarter. 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. Today, with stores around the globe, the Company is the premier roaster and retailer of specialty coffee in the world. Please see our filings with the SEC including our last annual report on Form 10-K for the fiscal year ended September 27, 2020 and our quarterly reports for a discussion of specific risks that may affect our performance and financial condition. GAAP results in fiscal 2022 and fiscal 2021 include items that are excluded from non-GAAP results. Non-GAAP G&A as a percentage of total net revenues for the fourth quarter of fiscal years 2020 and 2019 was 7.0% and 6.7%, respectively. Corporate and Other primarily consists of our unallocated corporate operating expenses and Evolution Fresh. Q4 Comparable Store Sales Up 17% Globally; U.S. Up 22% with 11% Two-Year Growth and Integration- The company uses its website as a tool to disclose important information about the company and comply with its disclosure obligations under Regulation Fair Disclosure. Comparable store sales exclude Siren Retail stores. The call will be webcast and can be accessed at http://investor.starbucks.com. For fiscal 2021, comparable store sales percentages were calculated excluding the extra week in the fourth quarter of fiscal 2021. Actual future results and trends may differ materially depending on a variety of factors, including, but not limited to: the actual impact of our increased labor investments on our operations and financial results; further spread of COVID-19 and its variants; regulatory measures or voluntary actions that may be put in place to limit the spread of COVID-19, including vaccine mandates and restrictions on business operations or social distancing requirements and the duration and efficacy of such restrictions and the world-wide distribution and acceptance of vaccines; the potential for a resurgence of COVID-19 infections in a given geographic region after it has hit its peak; fluctuations in U.S. and international economies and currencies; our ability to preserve, grow and leverage our brands; the ability of our business partners and third-party providers to fulfill their responsibilities and commitments; potential negative effects of incidents involving food or beverage-borne illnesses, tampering, adulteration, contamination or mislabeling; potential negative effects of material breaches of our information technology systems to the extent we experience a material breach; material failures of our information technology systems; costs associated with, and the successful execution of, the companys initiatives and plans, including the successful expansion of our Global Coffee Alliance with Nestl; our ability to obtain financing on acceptable terms; the acceptance of the companys products by our customers, evolving consumer preferences and tastes and the availability of consumer financing; changes in the availability and cost of labor; significant increased logistic costs, including but not limited to inflationary pressures; the impact of competition; inherent risks of operating a global business; the prices and availability of coffee, dairy and other raw materials; the effect of legal proceedings; and the effects of changes in tax laws and related guidance and regulations that may be implemented and other risks detailed in the company filings with the Securities and Exchange Commission, including the Risk Factors sections of Starbucks Annual Report on Form 10-K for the fiscal year ended September 27, 2020 and Quarterly Report on Form 10-Q for the fiscal quarter ended June 27, 2021. Starbucks Announces Q4 and Fiscal Year End 2021 Results Conference Call, Contact Information and Shareholder Assistance, https://www.businesswire.com/news/home/20210928006017/en/. The companies will work to quickly bring these coffee beverages to consumers in 2022. investorrelations@starbucks.com, Starbucks Contact, Media: 206-318-7100 The company remains committed to supporting disaster relief efforts on the ground by leveraging long-term nonprofit partnerships and tapping into our local teams to deliver critical support. Net revenues for the International segment grew 27% (18% on a 13-week basis) over Q4 FY20 to $1.9 billion in Q4 FY21, driven by 1,287 net new store openings, or 8% store growth, over the past 12 months, incremental revenue from the extra week in Q4 fiscal 2021, higher product sales to and royalty revenues from our licensees, a 3% favorable impact from foreign currency translation and a 3% increase in comparable store sales, partially driven by the lapping of prior year COVID impacts. This contraction was partially offset by strategic pricing and sales leverage. 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. Generally, these statements can be identified by the use of words such as anticipate, believe, continue, could, estimate, expect, forecast, intend, may, outlook, plan, potential, predict, project, remain, should, will, would, and similar expressions intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. 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. Yesterday, the company announced plans that it would deliver planned retail wage increases first announced in 2020 across the U.S. in fiscal 2022. Solved Starbucks Corporation's Financial Statements - Chegg Comparable store sales exclude the effects of fluctuations in foreign currency exchange rates and Siren Retail stores. Revenue for the quarter ended October 3, 2021 as reported (GAAP) - 14-weeks, Revenue for the quarter ended October 2, 2022 (GAAP) - 13 weeks, Revenue for the year ended October 3, 2021, Revenue for the year ended October 2, 2022 (GAAP) - 52 weeks, Operating Margin for the quarter ended October 3, 2021 as reported (GAAP) - 14-weeks, Operating Margin for the year ended October 3, 2021 as reported (GAAP) - 53-weeks, View source version on businesswire.com: 1 Thing That Could Send Starbucks Stock Soaring Includes only Starbucks company-operated stores open 13 months or longer. Today we announce we will be doubling-down on our investments in our partners, the heartbeat of our company. Narasimhan joined the company as incoming ceo on October 1, 2022 and will work closely with Howard Schultz, interim ceo, before assuming the ceo role and joining the Board on April 1, 2023. Operating income increased to $377.4 million in Q4 FY21 compared to $181.7 million in Q4 FY20. In addition to the GAAP results provided in this release, the company provides certain non-GAAP financial measures that are not in accordance with, or alternatives for, generally accepted accounting principles in the United States.