Thu, Jan. 22, 4:14 PM
- Starbucks (NASDAQ:SBUX) reports global comparable store sales increased 5% in FQ1 vs. 4.9% expected and 5.0% last quarter and in the year-ago period.
- Traffic was 2% higher during the quarter.
- Comp growth by region: Americas and U.S. +5%; EMEA +4%; China/Asia Pacific +8%.
- Operating margin improved -130 bps Q/Q and -10 bps Y/Y to 19.1%. The decline was due in a large part to a shift in ownership in Japan.
- My Starbucks Rewards member adds +10% to over 9M members.
- The company added 512 net new stores during the quarter.
- FY15 EPS guidance is reaffirmed at revenue growth of 16%-18% and a mid single-digit comp.
- FY15 EPS of $3.09-$3.13 expected vs. $3.13 consensus.
- SBUX +3.17% AH
Thu, Jan. 22, 4:04 PM
Wed, Jan. 21, 5:35 PM
Oct. 30, 2014, 4:22 PM
- FQ4 non-GAAP operating income of $857.3M up 28% Y/Y. Non-GAAP operating income per share of $0.74 up 23%.
- Global comp store sales up 5%. Non-GAAP operating margin of 20.5% up 280 basis points.
- New net stores of 503, bringing total to 21,366.
- Quarterly dividend is hiked 23% to $0.32 per share. Annualized yield of 1.66%.
- Fiscal 2015 targets: Revenue growth of 16-18% expected, including over $1B in incremental revenue from planned purchase of Starbucks Japan. Said purchase should be mildly dilutive to GAAP operating margin; non-GAAP operating margin expected to be flat to slightly up. Non-GAAP EPS expected in range of $3.08-$3.13 (vs. $2.66 in FY2014). Q1 non-GAAP EPS expected at $0.79-$0.81. New store opening should net 1,650.
- Conference call at 5 ET
- Previously: Starbucks EPS in-line, misses on revenue
- SBUX -4.8% AH
Oct. 30, 2014, 4:05 PM
Jul. 25, 2014, 11:50 AM
- "With a top and bottom line beat in a difficult consumer landscape, FQ3 lived up to the lofty expectations," says UBS's Keith Siegner (who has a Buy and $90 PT). Nevertheless. some pressure on the all-time high shares could be warranted amid management commentary (CC transcript) that FY15 earnings growth could be at the lower end of the 15-20% range. "We're not phased," he concludes, and would buy on any weakness.
- Also noting the conservative guidance, Barclays' Jeffrey Bernstein (Equal Weight and $81 PT), says the stock - at 25x forward earnings - is fairly valued.
- "Strong momentum in the business continues to make Starbucks (SBUX -2.3%) a long-term holding," says JPMorgan's John Ivankoe (Overweight and $85 PT). "While we believe some consolidation may be warranted to more aggressively purchase shares, we continue to advocate long-term investment based on uncommonly high cash flow/balance sheet flexibility, earnings power and visibility over the next few years."
- Previously: Starbucks edges lower following earnings beat
Jul. 24, 2014, 4:17 PM
- Comparable store sales globally up 6%, up 7% in the U.S. (vs. 5.1% expected), up 3% in EMEA (3.5% expected), up 7% in China/Asia-Pacific (7.1% expected).
- Operating income of $769M up 25%; operating margin up 200 bps to 18.5%.
- 344 new stores opened globally brings quarter-end count to 20,863 stores over 64 countries.
- Updated fiscal14 targets: Operating margin improvement targeted at 200 bps over 2013; adjusted EPS in range of $2.65-$2.67, with adjusted Q4 EPS expected at $0.73-$0.75. Net new stores expected at about 1,550 with Americas new stores boosted to 650 from 600.
- Fiscal 15 targets introduced: Revenue growth of at least 10%; global comp store sales growth in mid-single digits; an additional 1.6K new stores globally; EPS growth of 15-20%.
- Conference call at 5 ET
- Previously: Starbucks beats by $0.01, beats on revenue
- SBUX active AH, and currently down 0.6%.
Jul. 24, 2014, 4:08 PM
Apr. 24, 2014, 4:24 PM
- Starbucks (SBUX) reports global comparable store sales increased 6% in FQ2 vs. 5% in FQ1 and 6% for the year-ago period.
- Comp growth was fairly consistent across regions: Americas and U.S. +6%; EMEA +6%; China/Asia Pacific +7%.
- Operating margin improved 130 bps to 16.6% on sales leverage gains and lower commodity costs (coffee was hedged).
- The company added 335 net new stores during the quarter.
- FY14 EPS guidance is increased to $2.62-$2.68.
- SBUX +0.9% AH
Apr. 24, 2014, 4:07 PM| Comment!
Jan. 23, 2014, 4:25 PM
- Starbucks (SBUX) reaffirms FY14 guidance, but comes in a tad short of analyst expectations.
- The company sees FQ2 EPS of $0.54-$0.55 vs. $0.56 consensus and 2014 EPS of $2.59-$2.67 vs. $2.66 consensus.
- A weak yen cut into the company's profit margin in its China/Pacific segment.
- Dollars loaded on Starbucks Cards jumped 24% Y/Y to $1.4B.
- Though light compared to the company's track record, the 4% gain in U.S. traffic for the quarter is solid compared to restaurant peers. Execs resisted the urge to cite weather factors as rivals have done.
- SBUX -0.1% AH
Jan. 23, 2014, 4:09 PM
- Starbucks (SBUX) reports same-store sales rose 5.0% during FQ1 in the Americas to fall short the consensus estimate calling for a 6.25% gain, but fall within the company's guidance range for mid single-digit growth.
- Global comparable-store sales rose 5.0% during the quarter vs. 5.7% consensus. Traffic was up 4%, while ticket prices rose 1% across all geographic segments.
- Operating margin rose 260 bps Q/Q to 19.2%, compared to Starbucks' 2014 guidance for a range of 19.1% to 19.6%.
- The company opened 417 net new stores during the quarter to reach a total store count of 20,184.
- SBUX -1.4% AH
Jan. 23, 2014, 4:06 PM| 2 Comments
Jan. 23, 2014, 12:10 AM
Jan. 22, 2014, 5:35 PM
Oct. 30, 2013, 4:22 PM
- Starbucks (SBUX) shares are down 1.7% AH following a slight FQ4 beat.
- Global comparable store sales grew 7% on a 5% increase in traffic: Americas comps +7%, EMEA 0%, China/Asia Pacific +8%. The company opened 1.7K new stores in FY2013, ending the year with 19.8K stores. It expects to open 1.5K stores in the coming fiscal year.
- Operating margin expanded 1.5% Y/Y to 16.5%
- Management reaffirms FY2014 guidance: revenue growth of 10% or greater (previously 10%-13%), global comps in the "mid single digits," operating margin improvement of 1.5%-2%, and EPS of $2.55-$2.65 (vs. consensus of $2.67). FQ1 EPS is seen at $0.67-$0.69 ($0.69), FQ2 at $0.54-$0.55.
- PR, conference call at 5pm ET
SBUX vs. ETF Alternatives
Starbucks Corp is the roaster, marketer & retailer of specialty coffee in the world, operating in 65 countries. It sells a variety of coffee & tea products. It sells goods and services under brands under Teavana, Tazo, Seattle's Best Coffee, etc.
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