Starbucks annual revenue for 2021 was $29.061B, a 23.57% increase from 2020. These statements include statements relating to trends in or expectations relating to the effects of our existing and any future initiatives, strategies, investments and plans, including our Reinvention plan, as well as trends in or expectations regarding our financial results and long-term growth model and drivers; our operations in the U.S. and China; our environmental, social and governance efforts; our partners; economic and consumer trends, including the impact of inflationary pressures; impact of foreign currency translation; pricing actions; the conversion of certain market operations to fully licensed models; our plans for our operations; our relationship and transactions with Nestl, including our anticipated sale of Seattle's Best Coffee brand to Nestl; tax rates; business opportunities, expansions and new initiatives, including Starbucks Odyssey; strategic acquisitions; our dividends programs; commodity costs and our mitigation strategies; our liquidity, cash flow from operations, investments, borrowing capacity and use of proceeds; continuing compliance with our covenants under our credit facilities and commercial paper program; repatriation of cash to the U.S.; the likelihood of the issuance of additional debt and the applicable interest rate; the continuing impact of the COVID-19 pandemic on our financial results and future availability of governmental subsidies for COVID-19 or other public health events; our ceo transition; our share repurchase program; our use of cash and cash requirements; the expected effects of new accounting pronouncements and the estimated impact of changes in U.S. tax law, including on tax rates, investments funded by these changes and potential outcomes; and effects of legal proceedings. Channel Development 206-318-7118 Starbucks will hold a conference call today at 2:00 p.m. Pacific Time, which will be hosted by Kevin Johnson, president and ceo, and Rachel Ruggeri, cfo. Operating income decreased to $217.6 million in Q4 FY22 compared to $377.4 million in Q4 FY21. You must click the link in the email to activate your subscription. (1) For additional reconciliations of the extra week in fiscal 2021, please see the Supplemental Financial Data section of our Investor Relations website at http://investor.starbucks.com. We know that when we exceed the expectations of our people, they in turn exceed the expectations of our customers - which creates value for all of our stakeholders - our partners, our customers, our communities and our shareholders. Why are there two opinion letters, and why are the dates after the Starbucks year-end date? Represents costs associated with the Global Coffee Alliance with Nestl and a change in estimate relating to a transaction cost accrual. Comparable store sales for the fourth quarter of fiscal 2021 included a 4% adverse impact from lapping the prior-year value-added tax benefit. In September and October, Mary N. Dillon and Javier Teruel resigned from the company's Board of Directors. Other companies may calculate these non-GAAP financial measures differently than the company does, limiting the usefulness of those measures for comparative purposes. GAAP results in fiscal 2019 and fiscal 2018 include items which are excluded from non-GAAP results. total net revenues. Through our unwavering commitment to excellence and our guiding principles, we bring the unique Starbucks Experience to life for every customer through every cup. Q4 Comparable Store Sales Up 17% Globally; U.S. Up 22% with 11% Two-Year Growth Tiffany Willis . Represents costs associated with our restructuring efforts, primarily severance and asset impairments related to certain company-operated store closures and impairment of certain corporate assets. Operating margin of 50.6% expanded from 50.1% in the prior year, primarily due to business mix shift. As seen in the chart above, Starbucks has ramped up its leverage over the last few years, and its long-term debt obligations now sit at $14.6bn, when they used to be $2.3bn back in 2015. Integration costs, primarily related to information technology investments and compensation-related programs, are deemed to be representative of ongoing operations. Operating income decreased to $1.1 billion in Q4 FY22 compared to $1.3 billion in Q4 FY21. Includes only Starbucks company-operated stores open 13 months or longer. This investment, combined with industry-leading benefit programs, supports Starbucks aspiration to remain an employer of choice that can attract and retain the high-quality talent needed to expand its U.S. store footprint. 3 This is a 23.5%. RECONCILIATION OF EXTRA WEEK FOR FISCAL 2021 MEASURES. In October, additional well-being partner benefits were launched, including enhanced sick pay and mental health support, as well as updates to the family expansion reimbursement program. Such statements are based on currently available operating, financial and competitive information and are subject to various risks and uncertainties. Fiscal year is October-September. The unavailable information could have a significant impact on the companys GAAP financial results. Refer to footnote 1 in the Segment Results and Supplemental Information sections in this press release for definitions of change in comparable store sales. Prepaid expenses and other current assets, LIABILITIES AND SHAREHOLDERS' EQUITY/(DEFICIT), Current portion of operating lease liability, Stored value card liability and current portion of deferred revenue, Common stock ($0.001 par value) authorized, 2,400.0 shares; issued and outstanding, 1,147.9 and 1,180.0 shares, respectively, Accumulated other comprehensive income/(loss), TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY/(DEFICIT). Non-GAAP G&A as a percentage of total net revenues for fiscal years 2021, 2020 and 2019 was 6.6%, 7.1% and 6.5%, respectively. GAAP results in fiscal 2021 and fiscal 2020 include items that are excluded from non-GAAP results. Comparable store sales exclude the effects of fluctuations in foreign currency exchange rates and Siren Retail stores. A replay of the webcast will be available until end of day Friday, November 26, 2021. The Congressional Budget and Impoundment Control Act of 1974 stipulated the change to allow Congress more time to . You must click the link in the email to activate your subscription. 2023 Starbucks Corporation. We know that when we exceed the expectations of our people, they in turn exceed the expectations of our customers - which creates value for all of our stakeholders - our partners, our customers, our communities and our shareholders. The company uses its website as a tool to disclose important information about the company and comply with its disclosure obligations under Regulation Fair Disclosure. Operating margin of 18.6% contracted from 21.8% in the prior year, primarily driven by investments and growth in labor including enhanced store partner wages as well as increased spend on new partner training, coupled with higher commodity and supply chain costs due to inflationary pressures. Starbucks Corporation (Nasdaq: SBUX) today reported financial results for its 13-week fiscal first quarter ended January 1, 2023. Comparable store sales exclude the effects of fluctuations in foreign currency exchange rates and Siren Retail stores. Management excludes the gain related to the sale of Evolution Fresh, as well as our South Korea and Russia joint venture operations as these incremental gains were specific to the sale activity and for reasons discussed above. You can sign up for additional subscriptions at any time. Certain non-GAAP measures included in this report were not reconciled to the comparable GAAP financial measures. Management excludes these items for reasons discussed above. The Board of Directors declared a cash dividend of $0.49 per share, payable on November 26, 2021, to shareholders of record as of November 12, 2021. Includes amortization expense of acquired intangible assets associated with the acquisition of East China and Starbucks Japan and the related post-acquisition integration costs, such as incremental information technology and compensation-related costs. Certain statements contained herein and in our investor conference call related to these results are forward-looking statements within the meaning of the applicable securities laws and regulations. The number of Starbucks stores worldwide exceeded 35 thousand in 2022. As we execute on our Reinvention plan, we are building on our 51-year history of market leading innovation to position our business and our brand for the next chapter of growth, said Schultz. GAAP results in fiscal 2022 and fiscal 2021 include items that are excluded from non-GAAP results. The GAAP measures most directly comparable to non-GAAP G&A, non-GAAP operating income, non-GAAP operating income growth, non-GAAP operating margin, non-GAAP effective tax rate and non-GAAP earnings per share are general and administrative expenses, operating income, operating income growth, operating margin, effective tax rate and diluted net earnings per share, respectively. These integration costs will remain in our non-GAAP measures; non-GAAP measures for the quarter ended October 3, 2021 have been recast to reflect this change. Q4 Consolidated Net Revenues Up 31% to a Record $8.1 BillionQ4 Comparable Store Sales Up 17% Globally; U.S. Up 22% with 11% Two-Year GrowthQ4 GAAP EPS $1.49; Non-GAAP EPS of $1.00 Driven by Strong U.S. PerformanceActive Starbucks Rewards Membership in the U.S. Please refer to the reconciliation of GAAP measures to non-GAAP measures at the end of this release for more information. Includes only Starbucks company-operated stores open 13 months or longer. 206-318-7100 Global comparable store sales increased 17%, driven by a 15% increase in comparable transactions and a 2% increase in average ticket, North America comparable store sales increased 22%, primarily driven by an 18% increase in comparable transactions and a 3% increase in average ticket; U.S. comparable store sales increased 22%, driven by a 19% increase in comparable transactions and a 3% increase in average ticket, International comparable store sales increased 3%, driven by a 6% increase in comparable transactions, partially offset by a 2% decline in average ticket; China comparable store sales decreased 7%, driven by a 5% decline in average ticket and a 2% decline in transactions; International and China comparable store sales include adverse impacts of approximately 3% and 4%, respectively, from lapping prior-year value-added tax exemptions in China, The company opened 538 net new stores in the fourth quarter of fiscal 2021, yielding 4% year-over-year unit growth, ending the period with a record 33,833 stores globally, of which 51% and 49% were company-operated and licensed, respectively, Stores in the U.S. and China comprised 62% of the companys global portfolio at the end of the fourth quarter of fiscal 2021, with 15,450 and 5,360 stores, respectively, Consolidated net revenues of $8.1 billion grew 31% (22% on a 13-week basis, GAAP operating margin of 18.2% increased from 9.0% in the prior year primarily driven by sales leverage from business recovery and the lapping of COVID-19 related costs in the prior year as well as pricing in North America, partially offset by increased supply chain costs due to inflationary pressures; GAAP operating margin also benefited from lapping the higher restructuring activities in the prior year primarily associated with the North America Trade Area Transformation, Non-GAAP operating margin of 19.6% increased from 13.2% in the prior year, GAAP earnings per share of $1.49 grew from $0.33 in the prior year including a $0.56 gain on the divestiture of our South Korea joint venture and $0.10 related to the extra week in Q4 fiscal 2021, Non-GAAP earnings per share of $1.00 grew from $0.51 in the prior year including $0.10 related to the extra week in Q4 fiscal 2021, Starbucks Rewards loyalty program 90-day active members in the U.S. increased to 24.8 million, up 28% year-over-year, Global comparable store sales increased 20%, primarily driven by a 10% increase in average ticket and a 9% increase in comparable transactions, North America comparable store sales increased 22%, primarily driven by a 13% increase in average ticket and a 7% increase in comparable transactions; U.S. comparable store sales increased 21%, driven by a 13% increase in average ticket and an 8% increase in comparable transactions, International comparable store sales were up 16%, driven by a 14% increase in comparable transactions and a 1% increase in average ticket; China comparable store sales increased 17%, driven by a 19% increase in comparable transactions and a 2% decrease in average ticket, Consolidated net revenues of $29.1 billion increased 24% (21% on a 52-week basis) from the prior year mainly driven by a 20% increase in comparable store sales primarily from lapping the unfavorable impact of business disruption in the prior year due to the COVID-19 pandemic, GAAP operating margin of 16.8%, up from 6.6% in the prior year primarily driven by sales leverage from business recovery and the lapping of COVID-19 related costs in the prior year as well as pricing in North America, partially offset by additional investments and growth in wages and benefits for store partners, Non-GAAP operating margin of 18.1%, up from 9.1% in the prior year, GAAP earnings per share of $3.54 grew from $0.79 in the prior year including a $0.56 gain on the divestiture of our South Korea joint venture and $0.10 related to the 53rd week in fiscal 2021, Non-GAAP earnings per share of $3.24 grew from $1.17 in the prior year including $0.10 related to the 53rd week in fiscal 2021. Starbucks assumes no obligation to update any of these forward-looking statements or information. We saw accelerating demand for Starbucks coffee around the world in Q4 and throughout the year, said Howard Schultz, interim chief executive officer. Like many food and drink service companies, Starbucks saw a decline in revenue in 2020 due . To share in the experience, please visit us in our stores or online at stories.starbucks.com or www.starbucks.com. Non-GAAP G&A, non-GAAP operating income, non-GAAP operating income growth, non-GAAP operating margin, non-GAAP effective tax rate and non-GAAP earnings per share may have limitations as analytical tools. The unavailable information could have a significant impact on the companys GAAP financial results. Cash provided by/(used in) changes in operating assets and liabilities: Net cash provided by operating activities, Additions to property, plant and equipment, Net proceeds from the divestiture of certain operations, Net proceeds from issuance of short-term debt, Minimum tax withholdings on share-based awards, Net cash provided by/(used in) financing activities, Effect of exchange rate changes on cash and cash equivalents, Net increase/(decrease) in cash and cash equivalents. Starbucks has a market capitalization of $104.76 billion as of September 2022. Starbucks now expects global revenue growth in the range of 10% to 12% annually from fiscal 2023 to fiscal 2025. Through it all, we have thoughtfully navigated a strong recovery with an eye towards our future, all guided by our Mission and Values, said Kevin Johnson, president and ceo. GAAP results in fiscal 2020 and fiscal 2019 include items that are excluded from non-GAAP results. In addition to the GAAP results provided in this release, the company provides certain non-GAAP financial measures that are not in accordance with, or alternatives for, generally accepted accounting principles in the United States. For the full press release, please visit our Investor Relations site here. For fiscal 2021, comparable store sales percentages were calculated excluding the extra week in the fourth quarter of fiscal 2021. Net cash provided by (used in) financing activities: Second, a reminder that Starbucks fiscal year 2021 is a 53-week year instead of the usual 52 weeks. Adjustments to reconcile net earnings to net cash provided by operating activities: Income earned from equity method investees, Distributions received from equity method investees, Loss on retirement and impairment of assets. The call will be webcast and can be accessed at http://investor.starbucks.com. We anticipate that our strong business momentum, increased operating efficiency and continued global store expansion will fund these unprecedented investments while delivering yet another year of significant growth, concluded Johnson. Starbucks annual gross profit for 2022 was $21.933B, a 7.93% increase from 2021. These statements include statements relating to: our increased labor investments; our business outlook, projections and guidance; operations and financial results; our sustainability goals and initiatives; the recovery of our business; and our ability to drive long-term growth. A fiscal year consists of 12 months or 52 weeks and might not end on December 31. Through it all, we have thoughtfully navigated a strong recovery with an eye towards our future, all guided by our Mission and Values, said Kevin Johnson, president and ceo. Please remember that Starbucks fiscal year 2021 is a 53-week year instead of the usual 52 weeks. by Summer 2022. We believe these key operating metrics are useful to investors because management uses these metrics to assess the growth of our business and the effectiveness of our marketing and operational strategies. Transaction and A forward-looking statement is neither a prediction nor a guarantee of future events or circumstances, and those future events or circumstances may not occur.

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