SBUX · Earnings call · 2026Q3T · Full report
Revenue Performance and Mix
STARBUCKS CORP · 2026-10-29 · Importance 37 · Surprise 32 · No source text
Fourth-quarter fiscal 2026 consolidated net revenue was $9.1 billion, down 3.9% year over year, primarily because Starbucks China transitioned from company-operated retail to a licensed joint venture. North America revenue grew 6.3% to $7.3 billion, while International revenue was $1.3 billion and Channel Development revenue declined 8.9% to $494.4 million. U.S. comparable sales rose 7.7%, with transactions up 2.4% and ticket up 5.2%; pricing, attach, mix, and delivery contributed to ticket growth. Full-year consolidated revenue increased 2.1% to $37.9 billion.
Key facts
- Q4 FY2026 net revenues were $9.1 billion, down 3.9% year over year.
- FY2026 consolidated net revenues were $37.9 billion, up 2.1%.
- Q4 FY2026 North America net revenues grew 6.3% to $7.3 billion.
- Channel Development Q4 net revenues declined 8.9% to $494.4 million.
- Q4 FY2026 earnings per share grew approximately 54% to $0.80.
- Starbucks says moving to cold beverages usually results in a somewhat larger size.
- North America licensed revenues grew 2.6% in Q4, with a third consecutive quarter of positive system-wide comps.
Impact estimates
| metric | direction | stage | expected | basis |
|---|---|---|---|---|
| revenue | positive | realized | +8.5% | FY2026 consolidated net revenues were $37.9 billion, up 2.1%. |
| revenue | positive | realized | +4.7% | Q4 FY2026 North America net revenues grew 6.3% to $7.3 billion. |
| revenue | negative | realized | -4.0% | Q4 FY2026 net revenues were $9.1 billion, down 3.9% year over year. |