Starbucks FY 2026: Revenue $37.91B, EPS $2.21 — 10-K Summary

What happened

Starbucks reported fiscal 2026 revenue of $37.91 billion, up 2% from the prior year, and diluted earnings per share of $2.21. Higher comparable coffeehouse sales, international licensed coffeehouse revenue and Global Coffee Alliance sales lifted revenue; earnings also benefited from a China retail divestiture gain and wider operating margins.

Confirmed

Global impact / market context

Revenue growth was modest compared with the increase in earnings per share, which the article links partly to the one-time China divestiture gain and wider operating margins. Labor investments and tax impacts offset some gains, so repeatable sales and cost performance matter for future profit.

Analyst inference

Comparable sales improved across North America and international coffeehouses, while Channel Development revenue rose 16%, largely because higher coffee prices lifted alliance sales. Starbucks nevertheless expects revenue growth to moderate in fiscal 2027 as it compares against the China divestiture and recent North American store closures.

Confirmed

What to watch

1. Track comparable sales and their components: transactions rose 3.2% and average ticket 3.0%, showing whether customer visits and spending continue to support revenue. Confirmed
2. Watch fiscal 2027 revenue against management’s moderation outlook, including the effect of comparing with the China retail divestiture and recent North America closures. Confirmed
3. Assess whether operating-margin expansion persists as labor investments continue; margins show how much revenue remains after operating costs and shape earnings beyond the divestiture gain. Analyst inference

Evidence

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