October 29, 2015 Coffee & Company

Starbucks Reports Record Fourth Quarter and Record Fiscal Year 2015 Results

Q4 Comp Sales Increase 8% Globally, 9% in the U.S.; Global Traffic Up 4%

Q4 Revenues Jump 18% to a Record $4.9 Billion; Operating Income Up 13% to a Record $969 Million

Q4 GAAP EPS Rises to a Record $0.43; Non-GAAP EPS Rises 16% to a Record $0.43 Per Share

Company Issues Strong Outlook for Fiscal 2016 and Increases Global Comp Store Sales Targets

Board of Directors Approves a 25% Increase in the Quarterly Dividend to $0.20 Per Share

SEATTLE; October 29, 2015 – Starbucks Corporation (NASDAQ: SBUX) today reported financial results for its 13-week fiscal fourth quarter and 52-week fiscal year ended September 27, 2015. Fiscal 2014 and fiscal 2015 GAAP results include items which are excluded from non-GAAP results. Please refer to the reconciliation of GAAP measures to non-GAAP measures at the end of this release for more information.

Q4 Fiscal 2015 Highlights:

  • Global comparable store sales increased 8%, driven by a 4% increase in traffic

Americas comp sales increased 8%, driven by a 4% increase in traffic

China/Asia Pacific comp sales increased 6%, driven by a 6% increase in traffic

EMEA comp sales increased 5%, driven by a 3% increase in traffic

  • Consolidated net revenues up 18% over Q4 FY14, to $4.9 billion
  • Consolidated GAAP operating income up 13%, to $969.4 million

Non-GAAP operating income up 14% over Q4 FY14 non-GAAP operating income, to $981.3 million

  • Consolidated GAAP operating margin of 19.7% decreased 70 basis points from Q4 FY14

 Non-GAAP operating margin of 20.0% decreased 50 basis points from Q4 FY14 non-GAAP operating margin

  • GAAP EPS of $0.43 up 10% over Q4 FY14 GAAP EPS

Non-GAAP EPS of $0.43 up 16% over Q4 FY14 non-GAAP EPS

  • Starbucks Mobile Order & Pay expanded to U.S. company-operated stores nationwide; became available on Android devices through the Starbucks® mobile app
  • Opened 524 net new stores globally in the quarter, including the first Starbucks stores in Panama and in Azerbaijan

Fiscal Year 2015 Highlights:

  • Global comparable store sales increased 7%, driven by a 3% increase in traffic

Americas comp sales increased 7%, driven by a 3% increase in traffic

China/Asia Pacific comp sales increased 9%, driven by an 8% increase in traffic

EMEA comp sales increased 4%, driven by a 2% increase in traffic

  • Consolidated net revenues up 17% over FY14, to a record $19.2 billion
  • Consolidated GAAP operating income up 17% over FY14, to $3.6 billion

Non-GAAP operating income up 19% over FY14 non-GAAP operating income, to $3.7 billion

  • Consolidated GAAP operating margin increased 10 basis points over FY14, to 18.8%

Non-GAAP operating margin increased 50 basis points over FY14 non-GAAP operating margin, to 19.1%

  • GAAP EPS of $1.82 increased 35% over FY14 GAAP EPS

Non-GAAP EPS of $1.58 increased 19% over FY14 non-GAAP EPS

  • Company served over 60 million more customer occasions from its U.S. comp store base, and over 72 million more customer occasions from its global comp store base in fiscal 2015 over the prior year
  • Starbucks opened 1,677 net new stores in fiscal 2015, ending the year with 23,043 stores in 68 countries

View detailed financial data here

“Starbucks record Q4 financial results, highlighted by stunning comp store sales increases of 8% globally, 9% in the U.S. driven by a 4% increase in global traffic, demonstrate the strength and relevance of the Starbucks brand around the world,” said Howard Schultz, Starbucks chairman and ceo. “Our results underscore the success of the investments we continue to make in our people and business, in new beverage and food innovation and in groundbreaking technology innovation that is deepening our connection to customers everywhere."

“Starbucks performance in Q4 reflected a continuation of the pattern of accelerating momentum we saw with each successive quarter of fiscal 2015,” said Scott Maw, Starbucks cfo. “Our Q4 results are particularly gratifying in that they were achieved despite the increase, and acceleration, of the significant partner and digital investments we are making to drive sustained, profitable growth around the world and into the future."


About Starbucks

Since 1971, Starbucks Coffee Company has been committed to ethically sourcing and roasting high-quality arabica coffee. Today, with more than 25,000 stores around the globe, Starbucks is the premier roaster and retailer of specialty coffee in the world. Through our unwavering commitment to excellence and our guiding principles, we bring the unique Starbucks Experience to life for every customer through every cup. To share in the experience, please visit our stores or online at news.starbucks.com and Starbucks.com.

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