SBUX · 10-K · 2026A · Full report

Guidance / Outlook

STARBUCKS CORP · 2026-11-12 · Importance 43 · Surprise 42

Starbucks expects net revenue moderation in fiscal 2027, primarily because of the International segment’s comparison with the divestiture of China retail operations and the effect of recent North America coffeehouse closures. The company expects fewer company-operated coffeehouse openings in North America in fiscal 2027 as it rebuilds development capabilities to meet its standards. Fiscal 2027 capital expenditures are expected to be higher than fiscal 2026, with spending primarily directed to new and existing coffeehouses, the supply chain, and corporate facilities.

Key facts

• Starbucks expects moderation in net revenues in fiscal 2027, primarily driven by the International segment lapping the China retail divestiture and the impact of recent North America coffeehouse closures. source
• Starbucks expects fewer company-operated coffeehouse openings in North America in fiscal 2027 as it rebuilds its coffeehouse development capabilities to meet its standards. source
• Starbucks expects its international business to continue leading global coffeehouse growth, supported by its licensed business model and global development opportunities. source