SBUX · News · 20261103N
Operating Margin Drivers
STARBUCKS CORP · 2026-11-03 · Importance 63 · Surprise 64 · No source text
Starbucks' fiscal Q4 2026 operating margin was 10.8%, compared with 2.9% in the same quarter last year, an increase of 7.9 percentage points. The reported margin improvement occurred alongside same-store sales growth of 7.2%, versus 1% a year earlier. The digest gives no specific cost or operational driver for the margin change.
Key facts
- Operating margin was 10.8%, up from 2.9% in the same quarter last year. source
- Adjusted EPS was $0.80, 13.4% above analysts’ consensus estimate of $0.71. source
- Starbucks reported fourth-quarter adjusted earnings of 80 cents per share, above the Zacks Consensus Estimate of 73 cents. source
Impact estimates
| metric | direction | stage | expected | basis |
|---|---|---|---|---|
| margin | positive | realized | +7.9% | Operating margin was 10.8%, up from 2.9% in the same quarter last year. |