Q1 2026 Starbucks Corp Earnings Call Transcript
Key Points
- Starbucks Corp (SBUX) reported a 5% increase in global revenue, reaching $9.9 billion, with a 4% growth in global comparable store sales.
- The company achieved a record 35.5 million active Starbucks Rewards members, with both Rewards and non-Rewards transactions growing for the first time in eight quarters.
- Starbucks Corp (SBUX) saw strong international performance, with a 10% revenue increase and 5% comp growth, particularly in China, Japan, and the UK.
- The company successfully opened 128 net new coffee houses globally, contributing to its growth strategy.
- Starbucks Corp (SBUX) is focusing on technology and operational improvements, including the appointment of a new Chief Technology Officer and the rollout of AI-powered tools to enhance efficiency.
- North America's operating margins declined by approximately 420 basis points year over year, partly due to product and distribution cost inflation.
- The US licensed store portfolio revenue declined in Q1, primarily due to ongoing trends within the grocery and retail channels.
- Starbucks Corp (SBUX) faces challenges in fully realizing the benefits of its strategic investments, which are expected to take time to flow through to sustainable earnings growth.
- The company's Q1 EPS was $0.56, down 19% from the prior year, indicating pressure on profitability.
- Starbucks Corp (SBUX) is still in the early stages of its turnaround, with ongoing efforts needed to improve its operating foundations and achieve long-term growth.
Good morning. My name is Daryl, and I will be your conference operator today. I would like to welcome everyone to Starbucks first-quarter fiscal year 2026 conference call. (Operator Instructions)
I will now turn the call over to Catherine Park, Vice President of Investor Relations. Ms. Park, you may now begin your conference.
Good morning, and thank you for joining us today to discuss Starbucks first-quarter fiscal year 2026 results. Today's discussion will be led by Brian Niccol, Chairman and Chief Executive Officer; and Cathy Smith, Executive Vice President and Chief Financial Officer.
This conference call will include forward-looking statement,s which are subject to various risks and uncertainties that could cause actual results to differ from these statements. Any such statements should be considered in conjunction with cautionary statements in our earnings release and risk factors discussed in our filings with the SEC, including our latest annual report on Form 10-K and
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