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Company research27 Sep 2024
Europastry: Ready Baked for IPO
Founded in 1986, Europastry has grown into one of the largest frozen bakery companies in the world, with its business spanning across five continents.
Starbucks
Starbucks (SBUX) investor relations material
Starbucks Q4 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q4 2026 earnings summary29 Oct, 2026
Executive summary
Q4 global comparable sales rose 7.2% for a fifth consecutive quarter; adjusted operating margin reached 14.0%, up 460 bps reported and 450 bps at constant currency, and adjusted EPS was $0.80, up 54%.
FY26 revenue was $37.91B, up 2.0%; global comparable sales grew 6.2%, adjusted operating margin was 11.9%, and adjusted EPS was $2.72, up 27.7%.
“Back to Starbucks” shifted from a turnaround plan to a growth plan as comparable sales and operating margin strengthened.
Financial highlights
Q4 net revenue was $9.14B, down 4.5% reported and 3.9% at constant currency, primarily reflecting the China transition to a licensed joint venture model.
FY26 GAAP operating income increased 25.7% to $3.69B, net income rose 36.1% to $2.53B, and diluted EPS increased 35.6% to $2.21; adjusted operating income rose 22.2% to $4.51B.
Q4 U.S. comparable sales rose 7.7%; FY26 global and U.S. comparable sales grew 6.2% and 6.5%, respectively.
Q4 GAAP operating margin was 10.8%, up 790 bps; FY26 GAAP margin was 9.7%, up 180 bps. Adjusted margins were 14.0% and 11.9%, respectively.
Outlook and guidance
FY27 guidance: North America comparable sales growth ~4%, adjusted operating margin 13.5%–14.0%, and adjusted EPS $3.15–$3.25, including slightly more than $0.10 from the 53rd week.
FY27 revenue is expected to decline ~1%, including ~$700M related to the 53rd week; the comparison reflects China retail operations as company-operated in FY26 H1.
FY27 is a 53-week year; guidance includes the extra week except comparable sales metrics, which use a 52-week basis.
Plans call for ~1,200 net new global coffeehouses in FY27, led by International; North America is expected to add 90–100 coffeehouses.
Channel Development revenue is expected to decline ~10%; consolidated G&A dollars are expected flat to slightly down.
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Latest events from Starbucks
- Q3 delivered 7.9% global comp growth, margin expansion, and a $536M gain from the China divestiture.SBUX
Q3 2026 - Ambitious 2028 targets set with global expansion, digital innovation, and margin growth at the core.SBUXInvestor Day 2026
- Menu innovation, store upgrades, and operational focus fuel growth and margin recovery.SBUXThe 6th Annual Evercore Consumer & Retail Conference
- Turnaround accelerates with innovation, cost savings, and plans to double U.S. store footprint.SBUXBernstein 42nd Annual Strategic Decisions Conference
- Operational turnaround, partner investment, and governance proposals shaped the annual meeting.SBUXAGM 2026
- Q2 2026 saw 9% revenue and 22% EPS growth, with raised FY26 guidance and China JV transition.SBUXQ2 2026
- Revenue up 4% to $9.5B, but EPS down 47% as margins contracted and global comps fell.SBUXQ3 2025
- Q3 FY24 revenue fell 1% to $9.1B; EPS and comps declined, but store count and loyalty grew.SBUXQ3 2024
- Q1 revenue flat at $9.4B, EPS down 22–23%, but turnaround strategy shows early positive signs.SBUXQ1 2025
Next Starbucks earnings date
Q1 202727 Jan, 2027
Starbucks
Next Starbucks earnings date
Q1 202727 Jan, 2027
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Frequently asked questions
From a Neighborhood Coffee Shop to a Global Giant
Starbucks is a chain of coffee houses founded and headquartered in Seattle, but with operations all over the world. The company has grown from a small outfit run by a couple of friends to a global powerhouse in the coffee industry and has become one of the world's most recognizable brands. One thing that is worth noting is that Starbucks doesn’t offer franchising opportunities, like Domino's, McDonalds, Wendy’s, and several other companies do. Instead, their stores are corporately owned and operated.
Founding story
Starbucks was founded in 1971 by three partners: Jerry Baldwin, Zev Siegl, and Gordon Bowker. The first store was located in Seattle's historic Pikes Market and originally the company focused on selling high-quality coffee beans and equipment. However, in 1982, Howard Schultz joined the company and proposed the idea of creating a coffeehouse experience that was more akin to the one he’d found in Europe. Throughout the years, Starbucks expanded rapidly and went public in 1992. Today, Starbucks is a global coffeehouse chain with tens of thousands of stores worldwide, offering a wide range of items outside of just traditional coffee.
The coffeehouse experience
Right from the beginning, Starbucks has been focused on providing an appealing and inviting coffeehouse experience for its customers and guests. For many consumers, Starbucks has become the go-to place for meeting friends, catching up on work, or simply a place to enjoy a warm cup of coffee. This is something that the company takes great pride in, and places a heavy emphasis on. Today, customers can choose to order at the counter, in Starbucks’s popular app, or via drive-through.
While the main emphasis for Starbucks has always been various types of coffee, the company also offers a variety of different snacks and light meals. Adapting the menu to the seasons is also something that Starbucks has succeeded at, and popular choices such as pumpkin spiced lattes and other season-specific drinks rotate in and out of the menu.