First National Trust Co ve 2. čtvrtletí navýšila podíl ve Starbucks o 94,5 % na 10 543 akcií v hodnotě 1,077 milionu USD. Starbucks zároveň oznámil zisk na akcii za čtvrtletí 0,85 USD, nad odhadem 0,66 USD.
First National Trust Co raised its position in Starbucks Corporation (NASDAQ:SBUX – Free Report) by 94.5% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 10,543 shares of the coffee company’s stock after purchasing an additional 5,123 shares during the period. First National Trust Co’s holdings in Starbucks were worth $1,077,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors have also modified their holdings of the company. Brighton Jones LLC increased its holdings in Starbucks by 86.5% in the fourth quarter. Brighton Jones LLC now owns 176,722 shares of the coffee company’s stock valued at $16,126,000 after buying an additional 81,952 shares during the last quarter. Schnieders Capital Management LLC. raised its stake in Starbucks by 47.0% in the second quarter. Schnieders Capital Management LLC. now owns 3,642 shares of the coffee company’s stock valued at $334,000 after buying an additional 1,164 shares in the last quarter. Flow Traders U.S. LLC purchased a new stake in Starbucks during the 2nd quarter worth about $288,000. Gamco Investors INC. ET AL boosted its position in shares of Starbucks by 92.8% during the 2nd quarter. Gamco Investors INC. ET AL now owns 5,225 shares of the coffee company’s stock worth $479,000 after acquiring an additional 2,515 shares in the last quarter. Finally, NewEdge Advisors LLC increased its holdings in shares of Starbucks by 7.6% in the 2nd quarter. NewEdge Advisors LLC now owns 112,710 shares of the coffee company’s stock valued at $10,328,000 after acquiring an additional 7,978 shares during the last quarter. 72.29% of the stock is owned by hedge funds and other institutional investors.
Starbucks Stock Performance NASDAQ SBUX opened at $106.01 on Wednesday. The firm’s fifty day moving average is $104.21 and its two-hundred day moving average is $100.15. Starbucks Corporation has a one year low of $77.99 and a one year high of $110.51. The firm has a market cap of $120.85 billion, a PE ratio of 60.93, a P/E/G ratio of 1.86 and a beta of 0.97.
Starbucks (NASDAQ:SBUX – Get Free Report) last announced its earnings results on Wednesday, July 29th. The coffee company reported $0.85 earnings per share for the quarter, topping the consensus estimate of $0.66 by $0.19. Starbucks had a net margin of 5.17% and a negative return on equity of 34.10%. The business had revenue of $9.32 billion during the quarter, compared to the consensus estimate of $9.17 billion. During the same quarter in the prior year, the firm earned $0.50 earnings per share. The business’s quarterly revenue was down 1.4% compared to the same quarter last year. Starbucks has set its FY 2026 guidance at 2.550-2.650 EPS. Research analysts predict that Starbucks Corporation will post 2.64 earnings per share for the current year. Starbucks Announces Dividend The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 28th. Shareholders of record on Friday, August 14th will be given a dividend of $0.62 per share. This represents a $2.48 dividend on an annualized basis and a yield of 2.3%. The ex-dividend date of this dividend is Friday, August 14th. Starbucks’s dividend payout ratio (DPR) is presently 142.53%.
Insiders Place Their Bets In other Starbucks news, CEO Brady Brewer sold 2,229 shares of Starbucks stock in a transaction that occurred on Wednesday, August 5th. The stock was sold at an average price of $105.99, for a total value of $236,251.71. Following the transaction, the chief executive officer directly owned 75,135 shares in the company, valued at approximately $7,963,558.65. This trade represents a 2.88% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 6,687 shares of company stock worth $681,663. 0.03% of the stock is currently owned by company insiders.
Wall Street Analysts Forecast Growth A number of equities analysts recently issued reports on the company. The Goldman Sachs Group downgraded Starbucks from a “neutral” rating to a “neutral” rating in a report on Thursday, May 14th. Royal Bank Of Canada reissued a “sector perform” rating and issued a $115.00 price target (up from $110.00) on shares of Starbucks in a research report on Thursday, July 30th. UBS Group upped their price objective on shares of Starbucks from $105.00 to $112.00 and gave the company a “neutral” rating in a research note on Thursday, July 30th. Scotiabank lowered Starbucks from a “market perform” rating to an “underperform” rating in a report on Thursday, May 14th. Finally, Stifel Nicolaus set a $117.00 target price on Starbucks and gave the company a “buy” rating in a report on Wednesday, May 6th. Nineteen research analysts have rated the stock with a Buy rating, eleven have given a Hold rating and four have given a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $110.30.
Get Our Latest Stock Report on Starbucks
Starbucks Company Profile (Free Report)
Starbucks Corporation is a global coffeehouse chain and roaster that operates, licenses and franchises coffee shops and related retail businesses. Founded in Seattle, Washington in 1971 by Jerry Baldwin, Zev Siegl and Gordon Bowker, the company grew from a single store focused on whole-bean coffee and equipment into a broad consumer-facing brand. Howard Schultz, who joined the company later and served in senior leadership roles, is widely credited with transforming Starbucks into a mass-market specialty coffee retailer and expanding its footprint internationally.
Starbucks’ core activities center on the retail sale of hot and cold specialty beverages, whole-bean and packaged coffees, teas and ready-to-drink products, along with complementary food items and merchandise such as mugs and brewing equipment.
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Starbucks oznámil rekordní víkend: prodal více než 2 miliony nápojů díky návratu Unicorn Frappuccina. V severoamerických firemně provozovaných kavárnách prodal přes 2 miliony těchto drinků a sobota byla největším prodejním dnem v historii.
Seasoned investors know there's no such thing as a "sure thing" in investing. There are, however, some companies that come awfully close. For years, Starbucks (SBUX -1.77%) was a prime example of a consistent performer -- until it wasn't. Over the past couple of years, the coffee purveyor suffered several consecutive quarters of declining comps and falling foot traffic, sending many investors heading for the exits.
In 2026, however, things began to look up. In its most recent quarter, Starbucks reported remarkably strong results and its best same-store sales (comps) growth in years. On the heels of its steaming success, Starbucks just announced a remarkable coup that seems to confirm that the coffee chain is back.
Image source: Starbucks.
A rare sightingIn a press release that dropped late on Monday, Starbucks shared a message from CEO Brian Niccol to address a significant milestone: The company delivered a record-setting weekend, selling more than 2 million beverages. The catalyst for this new watermark? The return of Starbucks' Unicorn Frappuccino.
The frosty, blended concoction is made of milk, ice, and mango-flavored syrup, topped with a sour, tangy blue drizzle and whipped cream, and dusted with sweet-and-sour blue powder. The drink became a cult favorite during its limited release in 2017. Starbucks encouraged customers to "join in the fun," instructing them to "come dressed as your best unicorn-inspired self." And fans obliged.
From the press release:
In coffeehouses across the U.S., Canada, Latin America, Europe, Asia Pacific, and the Middle East, customers came in with friends and family to experience a moment of nostalgia and joy. They shared photos, posted videos, and made memories.Niccol went on to detail the accomplishment, noting that Starbucks sold more than 2 million of the pink blended beverages in its North American company-operated coffee houses. As a result, Saturday was Starbucks' "biggest Saturday sales day ever."
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The creme of the cropThis tops a remarkable comeback for a company that some investors had left for dead. In its fiscal 2026 third quarter (ended June 28), Starbucks generated net revenue of $9.3 billion, down 1% year over year, reflecting the divestiture of its operations in China. Comps increased 7.9%, with a 4.2% increase in transactions and a 3.5% increase in the average ticket. This drove adjusted earnings per share (EPS) of $0.85, up 70%.
Not only did Starbucks beat expectations, but it also raised its full-year 2026 forecast and is now guiding for U.S. and global comps of 6% or more, up from its previous forecast for 5% growth issued just three months ago.
Now the company has kicked off the third quarter in style by bringing back a fan-favorite drink with a strong following, and for a limited time -- which turned out to be a brilliant strategy. However inspired the decision, Starbucks can only pull this off once. The company will still need to keep its comps up and continue to deliver on its revenue and profit growth.
Starbucks is no longer cheap, selling for 34 times next year's expected sales. However, if the company's winning streak continues, that multiple might prove a bargain.
Cambridge Investment Research Advisors snížila ve 2. čtvrtletí podíl ve Starbucks o 10,9 % a prodala 27 410 akcií. CEO Brady Brewer mezitím prodal 2 229 akcií.
Cambridge Investment Research Advisors Inc. lessened its position in Starbucks Corporation (NASDAQ:SBUX – Free Report) by 10.9% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 223,721 shares of the coffee company’s stock after selling 27,410 shares during the quarter. Cambridge Investment Research Advisors Inc.’s holdings in Starbucks were worth $22,862,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Norges Bank acquired a new position in Starbucks in the 4th quarter valued at about $1,232,650,000. T. Rowe Price Investment Management Inc. lifted its position in shares of Starbucks by 65.9% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 19,447,854 shares of the coffee company’s stock worth $1,637,704,000 after purchasing an additional 7,725,547 shares in the last quarter. Capital World Investors lifted its position in shares of Starbucks by 9.0% during the fourth quarter. Capital World Investors now owns 84,727,405 shares of the coffee company’s stock worth $7,135,228,000 after purchasing an additional 7,007,268 shares in the last quarter. Corient Private Wealth LLC boosted its stake in shares of Starbucks by 146.6% in the second quarter. Corient Private Wealth LLC now owns 6,049,192 shares of the coffee company’s stock valued at $553,201,000 after purchasing an additional 3,596,014 shares during the period. Finally, Assenagon Asset Management S.A. boosted its stake in shares of Starbucks by 483.8% in the second quarter. Assenagon Asset Management S.A. now owns 3,182,890 shares of the coffee company’s stock valued at $325,260,000 after purchasing an additional 2,637,715 shares during the period. 72.29% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In SBUX has been the subject of a number of research reports. BMO Capital Markets restated an “outperform” rating and issued a $130.00 price objective on shares of Starbucks in a report on Thursday, July 30th. TD Cowen assumed coverage on shares of Starbucks in a report on Thursday, July 30th. They set a “buy” rating and a $120.00 target price on the stock. Weiss Ratings reissued a “hold (c)” rating on shares of Starbucks in a research report on Monday, July 20th. Deutsche Bank Aktiengesellschaft restated a “buy” rating and issued a $126.00 price target on shares of Starbucks in a research note on Thursday, July 30th. Finally, UBS Group upped their price objective on Starbucks from $105.00 to $112.00 and gave the stock a “neutral” rating in a research report on Thursday, July 30th. Nineteen investment analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and four have given a Sell rating to the company. According to data from MarketBeat, Starbucks has an average rating of “Hold” and an average target price of $109.92.
Check Out Our Latest Report on SBUX
Insider Buying and Selling at Starbucks In related news, CEO Brady Brewer sold 2,229 shares of the business’s stock in a transaction that occurred on Wednesday, August 5th. The stock was sold at an average price of $105.99, for a total transaction of $236,251.71. Following the completion of the sale, the chief executive officer owned 75,135 shares in the company, valued at $7,963,558.65. The trade was a 2.88% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders sold 6,687 shares of company stock worth $681,663. 0.03% of the stock is currently owned by company insiders.
Starbucks Stock Performance Shares of SBUX stock opened at $107.69 on Monday. The company has a market cap of $122.77 billion, a P/E ratio of 61.89, a PEG ratio of 1.86 and a beta of 0.97. The firm has a fifty day moving average price of $103.78 and a 200 day moving average price of $99.99. Starbucks Corporation has a 12 month low of $77.99 and a 12 month high of $110.51.
Starbucks (NASDAQ:SBUX – Get Free Report) last posted its quarterly earnings results on Wednesday, July 29th. The coffee company reported $0.85 earnings per share for the quarter, beating analysts’ consensus estimates of $0.66 by $0.19. The company had revenue of $9.32 billion for the quarter, compared to analysts’ expectations of $9.17 billion. Starbucks had a negative return on equity of 34.10% and a net margin of 5.17%.Starbucks’s quarterly revenue was down 1.4% on a year-over-year basis. During the same period last year, the firm earned $0.50 earnings per share. Starbucks has set its FY 2026 guidance at 2.550-2.650 EPS. On average, equities analysts forecast that Starbucks Corporation will post 2.64 EPS for the current year.
Starbucks Dividend Announcement The firm also recently announced a quarterly dividend, which will be paid on Friday, August 28th. Stockholders of record on Friday, August 14th will be given a dividend of $0.62 per share. This represents a $2.48 annualized dividend and a dividend yield of 2.3%. The ex-dividend date of this dividend is Friday, August 14th. Starbucks’s dividend payout ratio (DPR) is 142.53%.
Starbucks Company Profile (Free Report)
Starbucks Corporation is a global coffeehouse chain and roaster that operates, licenses and franchises coffee shops and related retail businesses. Founded in Seattle, Washington in 1971 by Jerry Baldwin, Zev Siegl and Gordon Bowker, the company grew from a single store focused on whole-bean coffee and equipment into a broad consumer-facing brand. Howard Schultz, who joined the company later and served in senior leadership roles, is widely credited with transforming Starbucks into a mass-market specialty coffee retailer and expanding its footprint internationally.
Starbucks’ core activities center on the retail sale of hot and cold specialty beverages, whole-bean and packaged coffees, teas and ready-to-drink products, along with complementary food items and merchandise such as mugs and brewing equipment.
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Starbucks od října přestane v pojistných plánech hradit léky na hubnutí GLP-1 pro zaměstnance s nárokem na benefity. Krok přichází kvůli rostoucím nákladům firem na tyto přípravky.
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Marcin Golba/NurPhoto via Getty Images Starbucks is pulling back coverage for weight-loss drugs, a reversal that comes as employers' spending on popular GLP-1 medicines soars.
Starting in October, the Seattle-based coffee chain's health plans will no longer cover GLP-1 medications prescribed for weight loss for benefits-eligible employees, though the drugs may still be covered for other conditions. Starbucks offers health benefits to full- and part-time employees who work at least 20 hours a week.
A spokesperson for Starbucks confirmed the decision, which hasn't previously been reported, and declined to comment further.
Starbucks' move reflects a broader recalibration of a benefit that has rapidly reshaped corporate health plans. Originally developed for diabetes, GLP-1 drugs have become highly sought-after treatments for obesity, which is associated with a range of chronic health conditions. Soaring costs, however, are prompting some employers to limit eligibility.
GLP-1 drugs accounted for 11.4% of corporate employers' total annual claims last year, up from 6.9% in 2023, according to a 2026 survey by the International Foundation of Employee Benefit Plans, a nonprofit. Further, 36% of corporate employers covered the drugs for both diabetes and weight loss in 2026, while 60% covered them only for diabetes, the findings show.
The pullback comes as employers confront faster-rising health costs more broadly. Average health-benefit costs per employee rose 6% last year and are projected to rise 6.7% this year, according to Mercer. The growing use of costly GLP-1 medications is one of the main drivers of the increase, the benefits-consulting firm said.
Other large employers have stopped covering GLP-1s for weight loss, too, including Allina Health and, reportedly, PwC.
Allina Health, a Minnesota-based health system, ended coverage for GLP-1 medications prescribed for weight loss for employees and their covered dependents in January 2025. The company said at the time that continuing the benefit would have significantly increased medical premiums. A spokesperson for Allina Health was not immediately available for comment.
Not all employers are shying away from covering GLP-1 drugs for obesity. Earlier this week, Bank of America CEO Brian Moynihan said the bank spends more than $250 million a year on GLP-1 coverage for employees, or roughly 13% of its more than $2 billion annual healthcare budget. He said the bank views the expenditure as an investment in employee health.
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Sarah E. Needleman covers leadership and the workplace for Business Insider.Previously, she was a reporter for The Wall Street Journal for more than two decades, covering technology companies, entrepreneurship, and recruiting.In 2022, Sarah received an honorable mention with WSJ colleagues for their coverage of workplace misconduct at Activision Blizzard from the Society for Advancing Business Editing and Writing.Sarah graduated from Rutgers University in 1997 with a bachelor's degree in journalism. She lives with her husband, daughter, and fur child (an Australian labradoodle) in northern New Jersey.Have feedback or a tip?Contact Sarah on Signal at saraheneedleman.13, or email her at [email protected] of Sarah’s scoops, exclusives, and most-read articles include: 'Entitled,' 'complacent,' and 'sloppy': Inside the workplace tension at the world's largest HR organizationShe won a religious exemption from using AI at work. The Pope's remarks could fuel similar appeals.The CEO behind 'Grand Theft Auto' doesn't drink, smoke, or play video gamesPTO, parental leave, pensions: Even the most prized benefits are on the chopping blockGoodbye, middle managers. Hello, 'player-coaches' and 'org leads.'She used to manage 3 employees. Now she oversees 24. Welcome to the age of the megamanager.America's new sink-or-swim era is hereInside the AI divide roiling video game giant Electronic ArtsMeet your new office bestie: ChatGPT
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From Siren Solo to Global Icon In early 2011, Starbucks (NASDAQ:SBUX | SBUX Price Prediction) marked its 40th birthday by stripping the wordmark from its logo, leaving only the green siren. It was a confident branding bet, and it landed at the start of a decade of aggressive expansion into mobile ordering, loyalty, and China. The stock rode that wave for years, then stalled.
The past five years told a messier story: post-pandemic traffic softness, labor pressure, and CEO turnover. That set the stage for Brian Niccol, the former Chipotle chief, to arrive in FY2025 with his “Back to Starbucks” plan built around baristas, throughput, and in-store experience.
The Turnaround Is Showing Up in the Numbers In Q3 FY2026, reported July 29, 2026, Starbucks posted non-GAAP EPS of $0.85, beating the $0.66 estimate by 28.79%. Revenue of $9.32 billion dipped slightly due to the China retail divestiture to a Boyu Capital JV, but global comp sales jumped 7.9%, North America comps rose 8.1%, and operating margin expanded 430 bps to 14.4%. Niccol called results “the turn in our turnaround.”
What $10,000 Since the 2011 Rebrand Looks Like Shares were $12.76 on March 8, 2011, and closed at $104.97 on August 4, 2026. Here is the return arc versus the S&P 500 on a $10,000 Starbucks investment:
Period Starbucks S&P 500 Since 40th Anniversary $82,271 (722.71%) $58,178 (481.78%) 10-Year $23,168 (131.68%) $35,353 (253.53%) 5-Year $9,912 (−0.88%) $17,460 (74.60%) 1-Year $12,004 (20.04%) $12,221 (22.21%) Year-to-Date $12,620 (26.20%) $11,311 (13.11%) The arc is exactly what the setup implied: a monster winner off the 2011 rebrand, then a flat half-decade as growth engines sputtered, now re-accelerating as operational fixes land. Dividend income sweetened returns, with the Starbucks quarterly payout climbing from $0.13 in 2011 to $0.62 today (split-adjusted).
Wall Street’s Take and the Verdict Analyst sentiment on Starbucks is cautious, and the consensus price target is $111.74. Shares trade at a rich 60x trailing P/E and 35x forward P/E, so a lot of turnaround optimism is already baked in.
The bull case rests on Niccol’s fixes sticking and comps holding near the raised FY2026 guidance of $2.55 to $2.65 EPS, ~6% global comps, and 11%+ operating margin. The bear case is that the multiple leaves little cushion for a stumble in China licensing economics or U.S. traffic. Given the traffic inflection, margin expansion, and rewards momentum, the setup skews constructive, with a 12-month view more bullish than Wall Street.
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Starbucks announced on Monday that its classic Pumpkin Spice Latte will be returning to store menus later this month.
The popular drink will be joined by new beverages and food items and as limited-time merchandise collections.
While the classic Pumpkin Spice Latte returns Aug. 25, Starbucks will add new pumpkin spice-flavored drinks, including the Iced Pumpkin Cream Shaken Espresso, Pumpkin Spice Chai and Iced Pumpkin Cream Matcha. The Pumpkin Cream Cold Brew, Iced Pumpkin Cream Chai and Pumpkin Spice Frappuccino blended beverage will also return.
STARBUCKS TO CUT 300 US JOBS, CLOSE SOME REGIONAL SUPPORT OFFICES
The Pumpkin Spice Latte is returning to Starbucks' menu Aug. 25. (Christina Tkacik/Baltimore Sun/Tribune News Service via Getty Images)
A new iced banana bread-flavored latte and chai drink will join the company's fall menu, as will the Chaider, a beverage featuring a blend of chai and cider-inspired flavors.
A new Chicken Bacon Protein Pocket and a Hedgehog Cake Pop will also join store menus this fall. The protein pocket is the latest addition to Starbucks' broader push to expand its protein offerings.
The new Chicken Bacon Protein Pocket contains 20 grams of protein. (Starbucks)
Starbucks is offering new drinkware and a hat as part of its PSL Society collection.
The announcement comes after the company reported third-quarter results last week.
SEATTLE COULD LOSE HUNDREDS OF MILLIONS IN TAX REVENUE AS STARBUCKS EXPANDS IN TENNESSEE
Starbucks raised its annual sales and profit forecasts for the second time as CEO Brian Niccol's years-long turnaround efforts reignite demand at the world's largest coffee chain.
Under Niccol, the company has aimed to improve customer experience through a simplified menu and shortened wait times, fueling four straight quarters of comparable sales growth.
Starbucks CEO Brian Niccol's turnaround plan is called "Back to Starbucks." (Michael Reaves/Getty Images)
"We have more work to do," Niccol said in a statement Wednesday, while finance chief Cathy Smith said the company is focused on what it can control amid a "dynamic operating environment."
WHY STARBUCKS PICKED NASHVILLE OVER SEATTLE FOR EXPANSION, ACCORDING TO LOCAL BUSINESS REPORTER
The Seattle-based company forecast global same-store sales growth of near 6%, above its prior forecast of about 5% or above. It expects adjusted earnings per share to be between $2.55 and $2.65, compared with its previous forecast of $2.25 to $2.45.
Ticker Security Last Change Change % SBUX STARBUCKS CORP. 103.37 -1.88 -1.79% "Starbucks has begun to experience market share stabilization in recent months, most notably with younger diners," Consumer Edge analyst Michael Gunther said.
"Consumers may be shifting dining dollars toward in-home eating but are leaving room in the budget for daily drink habits," he added.
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The Back to Starbucks strategy had been squeezing margins, as it involved heavy investments in staffing and store operations, which the company has looked to tackle with cost cuts through layoffs, office consolidation and streamlining its operations.
Starbucks ve 3. čtvrtletí překonal odhady na zisk, když globální srovnatelné tržby vzrostly o 7,9 % a transakce o 4,2 %. Firma zároveň zvýšila výhled EPS pro fiskální rok 2026 na 2,55–2,65 USD.
Key Takeaways Starbucks beat Q3 profit estimates as global comps rose 7.9% and transactions increased 4.2%.Starbucks lifted fiscal 2026 EPS guidance to $2.55-$2.65 and sees U.S. comps above 6%.Starbucks targets afternoon, digital and store-upgrade growth while protecting margins and traffic. Starbucks Corporation (SBUX - Free Report) used its fiscal third-quarter call to argue that the Back to Starbucks plan is producing a more durable recovery in traffic, service and margins.
The company raised its full-year outlook, though management also stressed that store portfolio cleanup, labor investments and consumer variability still require disciplined execution.
SBUX Raises Guidance as Traffic BroadensStarbucks reported non-GAAP earnings of $0.85 per share, above the Zacks Consensus Estimate of $0.66. Revenues of $9.32 billion fell short of the $9.44 billion consensus estimate.
Chairman and chief executive officer Brian Niccol highlighted 7.9% global comparable-store sales growth, led by a 4.2% increase in transactions. Non-GAAP operating margin expanded 430 basis points to 14.4%.
Executive vice president and chief financial officer (CFO) Cathy Smith raised fiscal 2026 non-GAAP earnings guidance to $2.55-$2.65 per share. Starbucks now expects U.S. comparable-store sales growth slightly above 6%, global growth near 6%, flat to slightly higher revenues and non-GAAP operating margin above 11%.
Starbucks Rebuilds Coffeehouse OperationsNiccol said Green Apron Service has become the operating foundation of the turnaround by improving staffing, routines, coaching and accountability. Two-thirds of North American company-operated coffeehouses now score at least four shots in the GROW system.
Target service times were achieved across access points during the quarter despite transaction growth. Food availability approached 99%, about 10 percentage points better than a year earlier.
Coffeehouse leadership stability also improved, with the share of North American leaders in role for at least two years rising about seven points. Niccol tied that continuity to better execution and stronger store performance.
SBUX Targets Afternoon and Digital GrowthNiccol told an Evercore ISI analyst that morning transactions remained the largest growth driver, while afternoon demand offers further runway. Management plans to build that daypart through beverages, food and tighter operating routines.
Refreshers delivered double-digit U.S. revenue growth, while S’mores beverages became the strongest summer coffee limited-time launch in several years. Starbucks Rewards reached 35.8 million active U.S. members.
Niccol said digital menu boards were on track to reach 80-90% of stores by September, enabling more daypart-specific merchandising. He also told a BNP Paribas analyst that delivery has shown no meaningful cannibalization or margin trade-off.
Starbucks Accelerates Store UpliftsStarbucks completed more than 1,000 North American coffeehouse uplifts and raised its fiscal year-end target to at least 1,500. Management plans a further acceleration in fiscal 2027.
Responding to Morgan Stanley, Smith said the upgrades average about $150,000 and are generally completed overnight without closing stores. Early results show positive transaction effects across formats, channels, dayparts and customer groups.
A TD Cowen analyst pressed management on closures. Niccol said stronger system performance is making weak locations easier to identify, while modest North American company-operated unit growth may persist through fiscal 2027 as the company fixes or replaces underperforming assets.
SBUX Defends Margin Quality and China ShiftSmith said sales leverage, cost savings and lower inflation supported margin expansion, while tariff refunds amplified the quarter. North American margin still improved more than 100 basis points excluding those refunds.
The CFO said Starbucks remains on track for $2 billion of gross savings through fiscal 2028. Consolidated general and administrative expenses declined about 20%, and coffee cost pressure should become largely immaterial to year-over-year comparisons in the fourth quarter.
Niccol positioned the China joint venture as part of a capital-light international model, with about 90% of the portfolio now licensed. Smith said China contributed $53 million of quarterly revenues and an operating margin above 100% under the new structure.
Starbucks Keeps Recovery Focused on ExecutionManagement’s tone was confident but measured. Niccol said the company still has work ahead, with priorities centered on throughput, service consistency, afternoon occasions and coffeehouse quality.
The next phase includes faster replenishment, fiscal 2027 technology modernization and stricter development discipline. Starbucks is seeking to preserve traffic momentum while improving store economics and building a more scalable licensed international platform.
Zacks Signals Show Selective StrengthSBUX carries a Zacks Rank #3 (Hold). Its Growth Score of A, Momentum Score of A and VGM Score of B indicate stronger growth and momentum characteristics, while the Value Score of D points to a less favorable valuation profile.
You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
The Style Scores are designed to complement the Zacks Rank, with A and B scores generally more favorable than lower grades. The current signals are mixed rather than decisive, and the Zacks Rank can change as analyst estimates are revised after the reported results.
Bank of America Corp DE v prvním čtvrtletí navýšila podíl ve Starbucks o 9,0 % a nakoupila dalších 1 300 085 akcií. Po nákupu drží 15 761 355 akcií v hodnotě 1,412060 miliardy USD.
Bank of America Corp DE grew its holdings in Starbucks Corporation (NASDAQ:SBUX – Free Report) by 9.0% in the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 15,761,355 shares of the coffee company’s stock after buying an additional 1,300,085 shares during the quarter. Bank of America Corp DE owned 1.38% of Starbucks worth $1,412,060,000 as of its most recent filing with the SEC.
Other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. grew its position in Starbucks by 0.9% in the fourth quarter. Vanguard Group Inc. now owns 114,410,675 shares of the coffee company’s stock valued at $9,634,523,000 after acquiring an additional 971,773 shares during the period. Capital World Investors lifted its holdings in shares of Starbucks by 9.0% during the fourth quarter. Capital World Investors now owns 84,727,405 shares of the coffee company’s stock valued at $7,135,228,000 after acquiring an additional 7,007,268 shares during the period. State Street Corp boosted its stake in shares of Starbucks by 0.7% in the 4th quarter. State Street Corp now owns 47,869,056 shares of the coffee company’s stock valued at $4,031,053,000 after purchasing an additional 327,161 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of Starbucks by 0.9% in the 4th quarter. Geode Capital Management LLC now owns 26,373,084 shares of the coffee company’s stock valued at $2,212,153,000 after purchasing an additional 225,168 shares in the last quarter. Finally, T. Rowe Price Investment Management Inc. grew its holdings in shares of Starbucks by 65.9% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 19,447,854 shares of the coffee company’s stock worth $1,637,704,000 after purchasing an additional 7,725,547 shares during the last quarter. 72.29% of the stock is currently owned by institutional investors and hedge funds.
Starbucks Stock Performance Shares of SBUX stock opened at $105.85 on Friday. The firm’s 50 day moving average price is $102.19 and its two-hundred day moving average price is $99.04. Starbucks Corporation has a 52-week low of $77.99 and a 52-week high of $109.23. The stock has a market cap of $120.64 billion, a PE ratio of 60.83, a PEG ratio of 2.07 and a beta of 0.98.
Starbucks (NASDAQ:SBUX – Get Free Report) last issued its earnings results on Wednesday, July 29th. The coffee company reported $0.85 EPS for the quarter, beating the consensus estimate of $0.66 by $0.19. The company had revenue of $9.32 billion during the quarter, compared to analysts’ expectations of $9.17 billion. Starbucks had a net margin of 5.17% and a negative return on equity of 33.44%. The business’s revenue for the quarter was down 1.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.50 EPS. Starbucks has set its FY 2026 guidance at 2.550-2.650 EPS. As a group, sell-side analysts predict that Starbucks Corporation will post 2.41 earnings per share for the current fiscal year.
Starbucks Announces Dividend The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 28th. Investors of record on Friday, August 14th will be issued a $0.62 dividend. This represents a $2.48 dividend on an annualized basis and a yield of 2.3%. The ex-dividend date is Friday, August 14th. Starbucks’s dividend payout ratio is currently 187.88%.
Analyst Upgrades and Downgrades SBUX has been the subject of a number of recent analyst reports. Guggenheim reiterated a “neutral” rating and set a $97.00 target price (up from $95.00) on shares of Starbucks in a research report on Wednesday, April 29th. Wells Fargo & Company boosted their price target on shares of Starbucks from $120.00 to $125.00 and gave the company an “overweight” rating in a research report on Thursday. Robert W. Baird set a $124.00 price objective on shares of Starbucks in a research note on Thursday. TD Cowen reaffirmed a “buy” rating and set a $120.00 price objective on shares of Starbucks in a report on Thursday. Finally, Piper Sandler reiterated an “overweight” rating and issued a $110.00 target price on shares of Starbucks in a research note on Wednesday, April 29th. Eighteen equities research analysts have rated the stock with a Buy rating, eleven have given a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $112.04.
Check Out Our Latest Research Report on Starbucks
More Starbucks News Here are the key news stories impacting Starbucks this week:
Positive Sentiment: Starbucks reported adjusted Q3 earnings of $0.85 per share, well above the $0.66 analyst consensus, while revenue of $9.32 billion also exceeded expectations. Adjusted EPS increased sharply from $0.50 a year earlier. Reuters article Positive Sentiment: Global comparable-store sales rose 7.9%, beating the 5.7% expectation, driven primarily by a 4.2% increase in transactions. North American revenue reportedly climbed 7% to $7.4 billion, reinforcing the view that traffic—not merely higher prices—is powering the recovery. Starbucks Q3 results Positive Sentiment: Management raised fiscal 2026 adjusted EPS guidance to $2.55-$2.65, from $2.25-$2.45, and now expects full-year global comparable sales growth of approximately 6%. Expanding margins and faster service are supporting investor confidence in the turnaround. Starbucks turnaround and outlook Positive Sentiment: Analyst reactions were generally supportive: TD Cowen reaffirmed a Buy rating with a $120 target, while Wells Fargo raised its target to $125 and Morgan Stanley lifted its target to $115. Starbucks is also testing carbonated versions of its Refreshers, expanding its non-coffee product lineup for younger consumers. Starbucks carbonated Refreshers Neutral Sentiment: Analyst opinions remain mixed. UBS, Citigroup and DA Davidson raised targets to $112, $112 and $110 while maintaining neutral ratings; Wolfe Research kept a Hold rating. BNP Paribas Exane raised its target to $92 but retained an Underperform rating, citing limited upside. Negative Sentiment: Despite the operational improvement, revenue declined 1.4% year over year, partly reflecting the China joint-venture structure, and the shares trade at a high valuation after their recent rally. That valuation leaves less room for execution missteps or a slowdown in comparable sales growth. Insider Buying and Selling In other Starbucks news, CEO Brady Brewer sold 2,229 shares of the stock in a transaction dated Monday, July 6th. The stock was sold at an average price of $104.00, for a total value of $231,816.00. Following the transaction, the chief executive officer owned 77,364 shares of the company’s stock, valued at approximately $8,045,856. This represents a 2.80% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 6,687 shares of company stock valued at $679,033 in the last ninety days. Corporate insiders own 0.03% of the company’s stock.
Starbucks Company Profile (Free Report)
Starbucks Corporation is a global coffeehouse chain and roaster that operates, licenses and franchises coffee shops and related retail businesses. Founded in Seattle, Washington in 1971 by Jerry Baldwin, Zev Siegl and Gordon Bowker, the company grew from a single store focused on whole-bean coffee and equipment into a broad consumer-facing brand. Howard Schultz, who joined the company later and served in senior leadership roles, is widely credited with transforming Starbucks into a mass-market specialty coffee retailer and expanding its footprint internationally.
Starbucks’ core activities center on the retail sale of hot and cold specialty beverages, whole-bean and packaged coffees, teas and ready-to-drink products, along with complementary food items and merchandise such as mugs and brewing equipment.
Featured Stories Five stocks we like better than Starbucks Microsoft Just Flipped the AI Spending Narrative Overnight Qualcomm’s Turnaround Is Working, So Why Is Wall Street Selling? Meta’s Earnings Show Why Wall Street Is Losing Patience With AI Spending Can Starbucks Keep This Turnaround Going? The Latest Results Say Yes Want to see what other hedge funds are holding SBUX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Starbucks Corporation (NASDAQ:SBUX – Free Report).
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Starbucks ve fiskálním 3. čtvrtletí vykázal pokles tržeb jen o 1,4 % na 9,32 miliardy USD, ale překonal odhady a zvýšil výhled pro celý rok. Provozní marže vzrostla o 430 bps a upravený EPS se zvýšil o 70 %.
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52-Week Range$77.99▼
$109.23Dividend Yield2.33%
P/E Ratio80.59
Price Target$111.65
Starbucks’ NASDAQ: SBUX fiscal Q3 results prove Brian Niccol was the right CEO at the right time. His Back to Starbucks strategy took time to gain traction, but it has, with comps back in growth mode and margins expanding.
The news is exactly what the market needed, affirming the world’s leading coffee chain as the number one "third place" (with home being first and work second) for consumers. In this environment, Starbucks can continue to gain momentum and transfer it to its share price. As it stands, SBUX stock is on track to break out and retest multi-year highs.
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Starbucks Outperforms on All Counts: Raises GuidanceStarbucks had a solid quarter despite the impact of its China transaction. The China transaction relieved it of operational control of Chinese-based assets, leaving it free to focus on core markets without the overhang of geopolitical events. The company’s fiscal Q3 revenue declined by 1.4% to $9.32 billion but still outpaced the consensus by over 200 basis points and drove better-than-expected margins.
Internally, revenue strength was underpinned by 175 new stores and a 7.9% global comp-store increase. Global comps were driven by a 4.2% increase in transactions and a 3.5% increase in ticket average, proving Niccol’s efforts to improve traffic and flow through are working. Comps in the U.S., the core market, increased by 8.1% while International markets grew comparable sales by 5.7%.
Margin news was a catalyzing factor for this market. The company improved its operating margins by 430 bps, adjusted for one-offs and repositioning efforts, driving a 70% increase in adjusted earnings per share (EPS), despite the top-line decline. Looking ahead, management expects the comp store strength to continue and lifted guidance accordingly. The company’s new forecast targets full-year global comps in the 6% range with EPS well above analysts' consensus targets and forecasts potentially cautious.
Starbucks Strengthens Balance Sheet in Q3Starbucks' improving position is reflected in the balance sheet. The impact of its China transaction is seen in reduced total assets but offset by increased cash and reduced debt. The net impact is reduced shareholder deficits, deficits linked to aggressive share buybacks in previous years, and improved cash flow. The likely outcome is that Starbucks continues on this track, enabling capital return increases in future quarters and years. Capital returns in 2026 primarily consist of the dividend, which yields about 2.3% as of late July.
The analyst response to the release was bullish, extending the trend. MarktBeat tracked four analyst updates within the first 12 hours of the release, including four price target increases leading to the high-end range. The takeaway is that 31 analysts show high conviction in the Moderate Buy rating, the Buy-side bias is over 60%, and the consensus price target is trending higher, forecasting at least a fresh 18-month high. The high-end range puts this market above $150, sufficient for a fresh all-time high when reached.
Institutional trends align with an outlook for higher share prices. The group owns more than 70% of the stock and has been accumulating in 2026. Although the overal pace of activity has slowed, the balance improved to over $6.50 bought for every $1 sold in early Q3, limiting the downside risk ahead of the release. The likely outcome is that this group continues to underpin support, possibly accelerating activity as Q3 progresses.
Risks Are in Balance While Reward Potential ImprovesStarbucks’ biggest risks are commodity price volatility and competition, but both appear to be under control. While input costs are increasing, operational quality is improving, driving both traffic and volume. In this scenario, Starbucks can continue to gain traction and may accelerate growth to well above forecasts, assuming cost pressures ease.
Current forecasts suggest coffee prices will moderate in Q3 from recent peaks, then hold steady in upcoming quarters, with robust harvests expected. Starbucks ’ biggest competitor is China’s Luckin Coffee, a brand to which exposure has been limited by exiting control of Chinese-based assets.
Valuation is another concern, with the stock trading around 80x earnings. The market is pricing in a robust turnaround, leaving the stock price prone to execution risk, but there is ample meat left on the bone. Forecasts put SBUX at only 10x earnings within eight years, setting the stage for a 100% to 150% stock price increase over time. Starbucks' biggest catalyst this year will be continued execution of Niccol’s strategy. Investors want to see growth resume, margins expand, and comp store strength.
Should You Invest $1,000 in Starbucks Right Now?Before you consider Starbucks, you'll want to hear this.
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Starbucks testuje perlivou verzi Refreshers, nazvanou Spritzers, ve zhruba 100 prodejnách v Austinu, San Antoniu a St. Louis. Cílem je podpořit odpolední tržby a oslovit mladší zákazníky.
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Two of the new bubbly drinks from Starbucks. Starbucks Starbucks CEO Brian Niccol is ready for some fizz.
The company is testing a carbonated version of its Refreshers, which are iced juice and tea drinks often mixed with fruit pieces, that have become one of Starbucks' biggest beverage businesses since launching in 2012.
"I'm really excited that we're getting ready to go test sparkling. We're calling it Spritzers," he told investors on the company's third quarter earnings call Wednesday. The company delivered net sales of $9.3 billion for the period, with global comparable sales growth of 7.9%.
Of course, sparkling drinks have been a fast food chain staple since the beginning of the industry. After all, what's a Big Mac without a Coke?
But lest you think the Seattle coffee giant is apparently just now getting the memo on soda, Niccol says his baristas are taking a distinctive approach to bubbles.
"Our team does a great job on getting to the delicious flavors that are relevant for the customer. So it's been a really strong platform for us, and over the last quarter, really continued to perform," he said.
Starting this week, the company said it was testing out the spritz concept at about 100 stores in Austin, San Antonio, and St. Louis.
This is not a Coke. It's a Sparkling Cold Brew Sour Spritz Starbucks The category expansion for Starbucks follows new Energy refreshers and Blended refreshers options rolled out earlier this summer. It also comes after nearly two years of a Niccol-led focus on fundamentals, like craft coffee and quicker, friendlier service.
One goal of the change is to increase business during the afternoon, once the morning coffee rush has subsided. The non-coffee flavors also help attract younger customers to the brand.
The sparkling flavor lineup includes a coffee and citrus combo, a peach and passion fruit tea, and a strawberry matcha mashup.
"It's been a platform, frankly, that we kind of got a little complacent on in the past, and now we are reinvigorating," Niccol said on the earnings call. "Whether it's fully decaffeinated or whether it's fully boosted, those are the different occasions that people want Refreshers, whether it's in the morning or the afternoon, and whether you're young or old, the platform is resonating."
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Dominick Reuter You're currently following this author! Want to unfollow? Unsubscribe via the link in your email.
Dominick Reuter is a senior retail reporter for Business Insider, primarily covering Walmart, Target, and Costco. His stories tend to focus on issues and trends that affect employees and customers.Prior to joining BI in 2019, Dominick worked for more than a decade as an independent photojournalist covering a wide range of stories for global wire services and newspapers, including Reuters, the Wall Street Journal, and Agence France-Presse.Dominick studied photojournalism at Boston University and later earned a Masters in business and economics journalism from Columbia University.If you're an employee or customer with a story to share, please contact me via email or text/call/Signal at 646-768-4750.
Starbucks vykázal za čtvrtletí zisk na akcii 0,85 USD, což překonalo odhad 0,66 USD a znamená meziroční růst z 0,50 USD. Tržby 9,32 miliardy USD ale za odhadem zaostaly o 1,22 %.
Starbucks (SBUX - Free Report) came out with quarterly earnings of $0.85 per share, beating the Zacks Consensus Estimate of $0.66 per share. This compares to earnings of $0.5 per share a year ago. These figures are adjusted for non-recurring items.
This quarterly report represents an earnings surprise of +28.79%. A quarter ago, it was expected that this coffee chain would post earnings of $0.44 per share when it actually produced earnings of $0.5, delivering a surprise of +13.64%.
Over the last four quarters, the company has surpassed consensus EPS estimates two times.
Starbucks, which belongs to the Zacks Retail - Restaurants industry, posted revenues of $9.32 billion for the quarter ended June 2026, missing the Zacks Consensus Estimate by 1.22%. This compares to year-ago revenues of $9.46 billion. The company has topped consensus revenue estimates three times over the last four quarters.
The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call.
Starbucks shares have added about 22.4% since the beginning of the year versus the S&P 500's gain of 8.5%.
What's Next for Starbucks?While Starbucks has outperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock?
There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately.
Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions.
Ahead of this earnings release, the estimate revisions trend for Starbucks was mixed. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #3 (Hold) for the stock. So, the shares are expected to perform in line with the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.
It will be interesting to see how estimates for the coming quarters and the current fiscal year change in the days ahead. The current consensus EPS estimate is $0.68 on $9.45 billion in revenues for the coming quarter and $2.41 on $38.23 billion in revenues for the current fiscal year.
Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Retail - Restaurants is currently in the bottom 26% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1.
One other stock from the same industry, The ONE Group Hospitality, Inc. (STKS - Free Report) , is yet to report results for the quarter ended June 2026.
This company is expected to post quarterly loss of $0.21 per share in its upcoming report, which represents a year-over-year change of -520%. The consensus EPS estimate for the quarter has remained unchanged over the last 30 days.
The ONE Group Hospitality, Inc.'s revenues are expected to be $203.32 million, down 2% from the year-ago quarter.
Starbucks oznámila výsledky za 3. čtvrtletí fiskálního roku 2026. Na konferenčním hovoru firma uvedla, že růst tržeb, provozní marže i EPS je vykazován v konstantních měnách.
Catherine Park - Vice President of Investor Relations
Brian Niccol - Chairman & CEO
Catherine Smith - Executive VP & CFO
Conference Call Participants
David Tarantino - Robert W. Baird & Co. Incorporated, Research Division
David Palmer - Evercore ISI Institutional Equities, Research Division
Andrew Charles - TD Cowen, Research Division
Sara Senatore - BofA Securities, Research Division
Brian Harbour - Morgan Stanley, Research Division
Danilo Gargiulo - Bernstein Institutional Services LLC, Research Division
Zachary Fadem - Wells Fargo Securities, LLC, Research Division
John Ivankoe - JPMorgan Chase & Co, Research Division
Karen Holthouse
Margaret-May Binshtok - Wolfe Research, LLC
Logan Reich - RBC Capital Markets, Research Division
Stephen McManus - BNP Paribas, Research Division
Presentation
Operator
Good afternoon, and welcome to Starbucks' Third Quarter Fiscal Year 2026 Earnings Call. [Operator Instructions].
I will now turn the call over to Catherine Park, Vice President of Investor Relations. Ms. Park, you may now begin your conference.
Catherine Park
Vice President of Investor Relations
Good afternoon, and thank you for joining us today to discuss Starbucks' third quarter fiscal year 2026 results. Today's discussion will be led by Brian Niccol, Chairman and Chief Executive Officer; and Cathy Smith, Executive Vice President and Chief Financial Officer.
This conference call will include forward-looking statements, which are subject to various risks and uncertainties that could cause our actual results to differ from these statements. Any such statements should be considered in conjunction with cautionary statements in our earnings release and risk factors discussed in our filings with the SEC. Starbucks assumes no obligation to update any of these forward-looking statements or information.
Revenue, operating margin and EPS growth metrics referenced on today's call are non-GAAP and measured in constant currency. All other metrics referenced on today's call are non-GAAP. Please refer to the earnings
Starbucks zvýšil celoroční výhled po čtvrtém čtvrtletí růstu srovnatelných tržeb. Upravený zisk na akcii (EPS) pro fiskální rok 2026 nyní očekává 2,55 až 2,65 USD.
Starbucks on Wednesday raised its full-year outlook after reporting its fourth straight quarter of same-store sales growth.
For fiscal 2026, Starbucks now expects adjusted earnings per share in a range of $2.55 to $2.65, up from its prior outlook of $2.25 to $2.45 per share.
It now also projects global same-store sales will rise nearly 6% and U.S. same-store sales will climb more than 6%; the company was previously forecasting global and U.S. same-store sales growth of at least 5%.
"This was the quarter our momentum became truly measurable," CEO Brian Niccol said in a video shared with the company's earnings press release.
The coffee giant also reported quarterly earnings and revenue that topped analysts' expectations.
Shares of the company jumped as much as 9% in extended trading.
Here's what the company reported for the quarter ended June 28 compared with what Wall Street was expecting, based on a survey of analysts by LSEG:
Earnings per share: 85 cents adjusted vs. 66 cents expected Revenue: $9.32 billion vs. $9.16 billion expectedThe coffee giant reported fiscal third-quarter net income attributable to Starbucks of $1.05 billion, or 91 cents per share, up from $558.3 million, or 49 cents per share, a year earlier.
The company's operating margins expanded to 13.6%, up from the year-ago period margins of 13.3%, thanks in part to tariff refunds. Starbucks did not say exactly how much it received in refunds.
"The refunds we received in Q3 largely offset related tariffs incurred in the first three quarters of fiscal 2026," CFO Cathy Smith said on the company's earnings conference call.
Excluding restructuring costs and other items, Starbucks earned 85 cents per share.
Net sales dropped 1% to $9.3 billion due to the company's sale of a controlling stake in its China business. In November, Starbucks announced it was forming a joint venture with Boyu Capital, which would take over operations in the coffee chain's second-largest market.
Although Starbucks' overall revenue fell, its sales at stores open at least 13 months climbed 7.9%, topping Wall Street estimates of 6%, according to StreetAccount.
The coffee chain reported increases in both transactions and average check, showing that customers are returning to its cafes and spending more on their orders.
Under Niccol's "Back to Starbucks" strategy, the company has focused on improving service and making cafes more welcoming in its home market. To do so, the chain has invested in labor and renovations to its coffee houses, earning some grumbling from investors. But the efforts seem to be paying off for Starbucks, which had seen its sales slump as it lost many of its loyal customers to competitors like Dutch Bros.
The company's North American same-store sales increased 8.1% in the quarter. Traffic to those restaurants jumped 4.5%. With a 3.5% increase in average ticket, customers were also spending more on their orders, paying to modify their lattes and adding food items alongside their drinks.
In addition to improving its operations, Starbucks has also retooled its menu, cutting unpopular items and launching new drinks. Niccol said the chain would test "spritzers" — sparkling versions of its Refreshers — in select markets.
Refreshers have grown to become a $2 billion drink platform for Starbucks and often drive customers to its cafes during the afternoon, helping fuel business outside of the morning coffee rush. In the fiscal third quarter, revenue from Refreshers climbed by a double-digit percentage, executives said.
Outside of Starbucks' home market, same-store sales rose 5.7%. With the formation of the China joint venture, roughly 90% of the company's international locations are now licensed, according to Niccol. The asset-light model is often more attractive to investors, who like the long-term lift to earnings the structure usually brings.
During the quarter, Starbucks opened 175 net new stores and surpassed 1,000 cafe "uplifts," reaching its fiscal 2026 goal ahead of schedule. Starbucks is now targeting at least 1,500 store renovations by the end of fiscal 2026 and accelerating its plans further in the next fiscal year.
The cafe makeovers cost roughly $150,000 on average and result in higher transactions, Niccol said on the company's earnings conference call. The changes vary based on location, but generally customers can expect more seating, warmer lighting and dark wood paneling.
Smith also said that the company is assessing its North American store footprint, which could result in it shuttering more stores. In fiscal 2025, the company's North America footprint shrank by 1% due to closures.
Correction: This story was updated to correct that Starbucks' North American same-store sales rose 8.1%. A previous version misstated the figure.
Starbucks oznámí výsledky za 3. fiskální čtvrtletí; analytici čekají výnosy přes 9,1 miliardy USD a zisk 0,65 USD na akcii. Firma zároveň ve 2. čtvrtletí zvýšila čisté tržby téměř o 9 % a upravený zisk na akcii o 22 %.
On Thursday, we’ll get a clearer picture of how the turnaround story at Starbucks (SBUX -0.52%) is progressing. The coffee slinger is scheduled to publish its fiscal third-quarter results after market close tomorrow (Wednesday, July 29).
So far this year, the stock is up by more than 23%, crushing the 8% growth of the bellwether S&P 500 index. That’s made it expensive in terms of valuations. The upcoming earnings report will show whether the company can maintain momentum while its “Back to Starbucks” strategy is still brewing.
Image source: The Motley Fool.
Caffeinated numbersCollectively, analysts expect Starbucks to post just over $9.1 billion in revenue and $0.65 per share in net income. That’s nearly 4% below the company’s third-quarter fiscal 2025 figure (although this will likely be due mainly to changes in the China business; more on that in a moment). On the flip side, that bottom-line projection would be a sweet 30% improvement over the year-ago number.
Back to Starbucks, the return-to-growth strategy that’s been the defining feature of CEO Brian Niccol’s tenure, has been producing results lately. At least, that’s according to the company, which attributed its solid second-quarter performance to the initiative.
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Personally, I’ve seen at least a few of the program’s goals — more comfortable and welcoming interiors, quicker order implementation, etc. — in effect at several of my local cafes in California. So I think Back to Starbucks is a sensible program, and the company is executing it effectively.
While I doubt it’s the only reason for the improvements the company posted in the second quarter, growth was impressive. That period saw Starbucks increase net revenue by nearly 9% year over year (to over $9.5 billion) on the back of a 7% rise in comparable sales. Both growth rates rose steadily across the last four quarters. Meanwhile, net earnings not under generally accepted accounting principles (non-GAAP, or adjusted) raced 22% higher to $0.50 per share.
Management also raised certain full-year 2026 guidance items. Its “comps” were adjusted to at least 5% over the 2025 tally, from the previous forecast of more than 3%. Adjusted earnings per share (EPS) are now expected to land at $2.25 to $2.45, compared to the preceding guidance of $2.15 to $2.40.
Increasingly dependent on domestic businessThere was much to like in Starbucks’ second quarter, and there should be some encouraging numbers in the subsequent frame. To me, though, there are areas of concern I think all Starbucks-watchers should keep an eye on.
One is international sales. Much of the company’s second-quarter growth came from its North America outlets, where same-cafe growth was over 7%, fueled by a 4.4% rise in number of transactions and a 2.7% improvement in average “ticket” (i.e., customer spend per purchase). The numbers for international cafes were notably lower, at a respective 2.6%, 2.1%, and 0.5%. Worse, Starbucks’ once-great hope for its business abroad, China, posted 0.5%, 2.1%, and a decline of 1.6%, respectively.
Starbucks is letting go of China to some extent; in early April, it completed the shift of its business there to a 60/40 joint venture, majority-owned by the private equity firm Boyu Capital. The U.S. company will no longer book register sales as part of its overall revenue; instead, it’ll earn royalty fees and a 40% share of net profit. So beware — certain China figures starting in the third quarter will be notably lower.
That leaves the North America business as more of a core for the company than it’s been in many years. And, if anything, Starbucks has been closing locations rather than opening new ones (it boasted only 11 net new stores worldwide in the second quarter, for a total of 41,129).
Meaning that it’s in a position where it has to squeeze growth from a store base that will expand only modestly, at best. There are only so many operational efficiencies and improvements that can be made to effect this; ditto for price increases in an era of increasing consumer price consciousness. So it feels to me that those recently increasing growth numbers might wither or even go negative before long.
A high price to payMy impression of the current state of Starbucks, then, is that it’s a mature business with a huge footprint that has little room to grow. The Back to Starbucks program has produced results, but I don’t envision those efficiency-fueled gains to continue at the recent pace. Meanwhile, the stock is priced for hot growth, with a forward P/E of almost 35, which I doubt will be matched by leaps in profitability.
Starbucks could very well meet or exceed its winning second quarter, but I still wouldn’t feel like it’s a solid, long-term growth story. I’m not enthusiastic about the stock now, and even an estimates-beating third frame isn’t going to sway me.
Starbucks ve 2. čtvrtletí zvýšil tržby na 9,531 miliardy USD a non-GAAP zisk na akcii na 0,50 USD, což překonalo odhady. Firma zároveň zvedla celoroční výhled na růst srovnatelných tržeb o 5,0 % nebo více a non-GAAP zisk na akcii 2,25 až 2,45 USD a dál dává přednost dividendě před odkupy akcií.
Starbucks (NASDAQ:SBUX | SBUX Price Prediction) is finally showing signs that CEO Brian Niccol’s “Back to Starbucks” plan is landing with customers. The question for income investors is whether the coffee giant’s long dividend-growth streak can survive the cost of the fix.
The Turnaround Finds a Pulse Fiscal Q2 2026 was the cleanest data point yet. Revenue climbed to $9.531 billion, up 8.79% year over year, with global comparable-store sales up 6.2% on 3.8% transaction growth. North America comps rose 7.1%, while China was essentially flat at +0.5% comparable-store sales growth, with a 1.6% decline in average ticket size. Non-GAAP EPS came in at $0.50 versus the $0.4054 consensus estimate, a 23.3% beat.
Niccol was direct on the call: “Our second quarter marked the turn in our turnaround as our Back to Starbucks plan drove both top and bottom line growth.”
Management raised its full-year outlook, guiding for comparable-store sales growth of 5.0% or more and non-GAAP EPS of $2.25 to $2.45. Meanwhile, Starbucks closed a China joint venture with Boyu Capital, retaining a 40% stake plus brand licensing, and slowed net new openings to just 11 stores in Q2, with 62 closures under its restructuring plan.
Watch for Starbucks Q3 fiscal year 2026 report on Wednesday, July 29, 2026, after the stock market closes.
The Dividend: A Streak Under Pressure Starbucks pays a quarterly dividend of $0.62, with the next ex-date on August 14, 2026, and payment on August 28, 2026. The yield is near 2.4%, on shares at $103.65. That is 64 consecutive quarters of payouts with a historical CAGR of roughly 17%.
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Coverage is the concern. Free cash flow covered the dividend at 0.88x in FY2025, down from 1.28x in FY2024. Quarterly EPS has been below the payout in every recent quarter, and shareholders’ equity stands at negative $8.458 billion. On a valuation basis, the trailing P/E is a rich 79x, with a forward P/E of 35x.
One positive signal: management suspended buybacks in FY2025 (repurchases of $0) after $1.27 billion in FY2024, effectively prioritizing the dividend.
What Income Investors Should Watch Wall Street is measured. The consensus analyst price target is $106.45, only modestly above the current share price. Polymarket traders assign a 92.5% probability to a Q3 earnings beat, though no prediction market for a dividend cut currently exists.
For retirement investors, the dividend looks safe in the near term because management is choosing it over buybacks, and Q2 momentum is genuine. The item to monitor is payout coverage. If free cash flow does not recover toward historical norms as remodeling and labor costs normalize, the 17% dividend-growth cadence will slow long before the dividend payment itself is at risk.
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Starbucks ukončil AI nástroj na počítání zásob od NomadGo po problémech při nasazení v 11 300 firemně provozovaných pobočkách v Severní Americe. Startup byl rozhodnutím zaskočen a musel propustit část 30členného týmu.
by Kurt Schlosser on Jul 27, 2026 at 10:31 amJuly 27, 2026 at 10:35 am
Starbucks was using technology from Redmond-based NomadGo to automate how workers counted inventory items. (Starbucks Photo) When Starbucks scrapped an AI-powered inventory counting tool back in May, just nine months after revealing the new system, it landed as a surprise to those tracking the coffee giant’s high-tech ambitions. A new report from Fast Company tells the inside story of how the national rollout disintegrated — and why the Redmond, Wash.-based startup behind it was left “blindsided.”
Known as “Automated Counting,” the tool was built in partnership with NomadGo to scan backroom storage shelves using iPad Pros equipped with computer vision, spatial computing, and augmented reality. It was designed to automatically tally coffee bags, milk, syrups, and other key supplies.
The idea was to turn an hour-long manual chore into a 10-to-12-minute job so baristas could focus on making drinks and connecting with customers.
The technology was deployed rapidly across all 11,300 company-operated Starbucks locations in North America. But almost immediately, real-world store environments triggered rampant glitches, according to Fast Company.
Baristas reported camera errors — such as shiny refrigerator reflections doubling milk counts or the app misidentifying syrups and trash cans — while stores with spotty Wi-Fi frequently had their counting progress wiped out entirely mid-scan.
According to Fast Company, the technical breakdowns stemmed from both software limitations and outdated infrastructure. While NomadGo’s computer vision achieved 99% accuracy in controlled tests, CEO David Greschler noted that computer vision inherently struggles when inventory changes — requiring up to six weeks of retraining for seasonal holiday cups or limited-time packaging that NomadGo developers sometimes only learned about once items hit store shelves.
Compounding the problem, people involved in building the tool pointed to Starbucks’ backend network, which relies on a legacy IBM AS/400 system dating back to the 1990s, making it difficult for cutting-edge AI to process real-time store data reliably.
When Starbucks notified NomadGo on April 3 that it was pulling the plug, the startup was reportedly blindsided. Greschler called the decision “a complete surprise,” telling Fast Company that “there’s nothing you can do when leadership and strategy change.”
Within days of losing its centerpiece enterprise client, NomadGo was forced to lay off a large chunk of its 30-person workforce, according to the report, including the technical team that managed the Starbucks integration. Six weeks later, on May 18, Starbucks formally notified baristas that Automated Counting was retired, instructing them to rip the QR tracking codes off backroom shelves and return to manual tallies.
A Starbucks spokesperson provided GeekWire with this statement on Monday:
“Human connection is at the core of our business, which is why we have invested $500 million to put more partners (employees) in our coffeehouses. We use technology to support human connection, not to replace it. This tool was designed to simplify a routine task and give partners more time with their customers. When it fell short, we listened to feedback and changed course. That is what innovation looks like at Starbucks: listening, learning, and adapting.”
GeekWire also contacted NomadGo, and we’ll update this story when we hear back.
Despite retiring Automated Counting, Starbucks has pushed forward with other AI initiatives across its business. The coffee giant is building an AI-powered ordering companion inside its mobile app to translate cravings into custom recipes, while testing a ChatGPT integration that suggests drinks based on a customer’s mood or outfit.
For store staff, the company continues to rely on Green Dot Assist, a generative AI virtual assistant built to help baristas quickly look up recipes, standards, and store operating procedures.
Starbucks je od začátku roku zatím v plusu o 24 % a míří k prvnímu překonání Nasdaq-100 od roku 2022. Firma zároveň zvýšila celoroční výhled upraveného EPS na 2,25 až 2,45 USD.
Starbucks (SBUX -0.32%) is energizing investors' portfolios. Shares have climbed 24% so far in 2026, as of July 21. Should this positive trend hold up throughout the rest of the year, the business will put together its first gain since 2021. That's welcome news for investors who have gotten used to ongoing declines.
It's also noteworthy that this coffee stock is on track to beat the Nasdaq-100 index for the first time since 2022. Outperforming a well-known technology benchmark would certainly be a winning outcome.
Does Starbucks have more room to run?
Image source: The Motley Fool.
Traffic trends are encouraging It wasn't that long ago when Starbucks was really struggling. Customers grew displeased with a worsening store experience, complex menus, and ongoing price increases, which all contributed to weaker traffic. The intensely competitive nature of the retail coffee market didn't make things easier.
The company reported declining year-over-year same-store sales in both fiscal 2024 and fiscal 2025. Since this metric is critical for any retailer or restaurant, as it indicates the productivity of each location, it's no wonder the stock was under pressure.
The situation has improved. Traffic trends have been encouraging. In April, Starbucks reported its financial results for Q2 2026, ended March 29. And the management team revealed that global comparable transactions were up for a second straight quarter.
"Our US company-operated business grew transactions across all day parts," CEO Brian Niccol said on the Q2 2026 earnings call.
Starbucks is working to right the ship. The company's key priorities have been to re-establish cafes as a welcoming "Third Place," while boosting store operations with better staffing and equipment. Starbucks also innovated with new menu offerings to capture more sales during the afternoon.
The Starbucks rewards program has been updated, too. It now features membership tiers based on different spending levels, aiding in personalization and providing more benefits to the most loyal customers. This setup supports engagement and frequency. There are now a record 35.6 million members in the United States.
Starbucks set out to reduce its annual expenses by $2 billion, and there appears to be progress in this regard. The business raised its full-year profit guidance, now forecasting adjusted earnings per share of $2.25 to $2.45. At the midpoint, that implies a 10% year-over-year jump.
The turnaround isn't over, though. Getting back to healthy growth is the main goal. At Starbucks' investor day meeting in January this year, management laid out a target to achieve a 5% year-over-year revenue gain by fiscal 2028. The top line is expected to be flat in fiscal 2026, so there is still work to do.
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Should you buy the coffee chain's shares today? Starbucks is a high-quality business. It has a wide economic moat that's supported by an incredible brand and tremendous scale. These two traits, which have driven success in the past, give Starbucks a durable advantage in the crowded industry.
Another bullish argument focuses on the company's profit outlook. Starbucks' adjusted EPS will grow at a compound annual rate of 19.8% between fiscal 2025 and fiscal 2028, according to consensus analyst estimates. That's an encouraging outlook.
But investors should remember that this bottom-line forecast isn't on solid ground. Starbucks is still in the middle of a turnaround that can present new challenges. Plus, the macroeconomic environment could weaken, pressuring demand for the premium food and beverage that Starbucks offers.
In addition, the valuation is expensive. The consumer discretionary stock trades at a forward price-to-earnings ratio of 35.6. There is no margin of safety, adding greater downside risk to the equation. So this isn't a stock I'm thinking of buying.
Income investors, however, will have a different perspective. Starbucks' current dividend yield of 2.37% is more than double what the S&P 500 index offers. That payout has increased by 210% in the past decade. And Starbucks has paid a dividend for an impressive 66 straight quarters. T
Starbucks zvýšil celoroční výhled non-GAAP EPS na 2,25–2,45 USD po návratu k růstu zisku na akcii ve 2. čtvrtletí fiskálního roku 2026. Zároveň zvýšil výhled globálních i amerických srovnatelných tržeb na 5 % nebo více z dřívějšího výhledu alespoň 3 %. Srovnatelné tržby v USA vzrostly o 7,1 % díky více než 4% růstu transakcí.
Key Takeaways SBUX's U.S. comps rose 7.1%, with transactions up more than 4% in the fiscal second quarter.Starbucks raised non-GAAP EPS guidance to $2.25-$2.45 as operating momentum strengthened.SBUX expects sales leverage and its $2B savings plan to support further margin recovery. Starbucks Corporation (SBUX - Free Report) is showing tangible signs that its "Back to Starbucks" turnaround is translating into financial improvement. In the second quarter of fiscal 2026, the company returned to year-over-year EPS growth for the first time in more than two years, while consolidated operating margin expanded for the first time since the first quarter of fiscal 2024. Starbucks also raised its full-year outlook, now expecting global and U.S. comparable sales growth of 5% or better, up from its prior outlook of at least 3%. The company also lifted its non-GAAP EPS guidance to $2.25-$2.45 from $2.15-$2.40, pointing to greater confidence in the recovery.
The improved outlook is being supported by stronger customer demand and transaction-led comp growth. U.S. comparable sales increased 7.1%, fueled by transaction growth of more than 4%, while U.S. company-operated morning transactions were roughly back to fiscal 2022 levels. The comp recovery was supported by Green Apron Service, improved staffing, service-time execution, delivery expansion and menu innovation. Starbucks Rewards membership also reached a record 35.6 million active members, strengthening the company’s digital engagement base.
Higher transaction volumes are becoming increasingly important because they can support operating leverage as sales recover. Starbucks expects sales leverage to build over the next two quarters, while its $2 billion cost-savings program remains on track through fiscal 2028. The company also expects coffee and tariff pressures to begin easing in the back half of fiscal 2026. These factors could help offset ongoing Back to Starbucks investments and support better margin flow-through.
International profitability and the China joint venture add another layer to the earnings recovery setup. Starbucks expects the China JV structure to be margin accretive, with the transaction expected to be relatively EPS neutral in fiscal 2026. The company also expects the transition to support a more capital-efficient model in China while allowing it to continue participating in the market’s long-term growth opportunity.
Starbucks’ ability to deliver sustainable earnings growth will likely depend on whether it can convert improving traffic into consistent operating leverage and margin expansion. Customer demand is recovering, guidance has moved higher and several operating initiatives are beginning to support stronger traffic, sales leverage and margin recovery. Together, these factors likely suggest that the Back to Starbucks turnaround is gaining financial traction.
SBUX’s Price Performance, Valuation & EstimatesShares of Starbucks have gained 16.1% in the past year against the industry’s of 5.3% fall. In the same time frame, other industry players like Dutch Bros Inc. (BROS - Free Report) have gained 5.9%, while McDonald's Corporation (MCD - Free Report) has declined 7.3%.
SBUX’s One-Year Price Performance
Image Source: Zacks Investment Research
From a valuation standpoint, SBUX trades at a forward price-to-sales (P/S) multiple of 3.01, below the industry’s average of 3.30. Conversely, industry players, such as Dutch Bros and McDonald's, have P/S multiples of 4.95 and 6.51, respectively.
SBUX’s P/S Ratio (Forward 12-Month) vs. Industry
Image Source: Zacks Investment Research
The Zacks Consensus Estimate for SBUX’s fiscal 2026 earnings per share has increased in the past 30 days.
EPS Trend of SBUX Stock
Image Source: Zacks Investment Research
The company is likely to report strong earnings, with projections indicating an 13.2% rise in fiscal 2026. Conversely, industry players like McDonald's are likely to witness an increase of 5.4%, year over year, in 2026 earnings. Meanwhile, Dutch Bros’ 2026 earnings are likely to witness a rise of 22.4% year over year.
SBUX stock currently has a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Starbucks ve 2. čtvrtletí zvýšil tržby z Channel Development o 39 % meziročně díky vyšším prodejům v rámci Global Coffee Alliance. Firma zároveň uvedla nové ready-to-drink kávové a proteinové nápoje.
Key Takeaways Starbucks' Channel Development revenues grew 39% YoY in Q2, led by higher Global Coffee Alliance sales.SBUX's multi-serve Refreshers concentrate posted strong early demand and repeat purchases.Starbucks expanded its packaged portfolio with new ready-to-drink coffee and protein beverages. Starbucks Corporation (SBUX - Free Report) exited the second quarter of fiscal 2026 with stronger momentum in Channel Development, highlighting a revenue opportunity beyond its company-operated store base. In the fiscal second quarter, Channel Development net revenues increased 39% year over year, supported by higher revenues from the Global Coffee Alliance. The growth adds another source of revenue momentum as Starbucks builds across company-operated stores, licensed stores and consumer-packaged platforms.
The expansion is notable because it gives Starbucks an additional revenue path beyond company-operated stores, which remain central to the broader turnaround. Channel Development extends Starbucks’ presence across packaged coffee, ready-to-drink products and consumer-packaged platforms.
Product activity supported the segment’s momentum in the fiscal second quarter. Starbucks cited strong early performance for its multi-serve Refreshers concentrate in North America, calling it the company’s largest CPG launch in more than a decade. SBUX also noted strong customer reception and repeat purchase behavior for the product, reinforcing the relevance of its packaged-beverage innovation.
The ready-to-drink portfolio adds another growth layer. Starbucks launched coffee and protein ready-to-drink beverages at the end of the fiscal second quarter, complementing its growing protein platform in coffeehouses. Alongside the Global Coffee Alliance and Refreshers concentrate, these launches broaden the company’s packaged-beverage portfolio.
Overall, company-operated stores remain central to Starbucks’ broader recovery, but Channel Development is becoming a more visible incremental revenue opportunity. Continued momentum in the Global Coffee Alliance, early traction in CPG Refreshers and new ready-to-drink coffee and protein launches could make the segment a more meaningful contributor to Starbucks’ broader revenue growth over time.
SBUX’s Price Performance, Valuation & EstimatesShares of Starbucks have gained 19.2% in the past year against the industry’s 3.5% fall. In the same time frame, other industry players like McDonald's Corporation (MCD - Free Report) have lost 6.8%, while Dutch Bros Inc. (BROS - Free Report) has gained 4.1%.
SBUX’s One-Year Price Performance
Image Source: Zacks Investment Research
From a valuation standpoint, SBUX trades at a forward price-to-sales (P/S) multiple of 3.08, below the industry’s average of 3.37. McDonald's and Dutch Bros have P/S ratios of 6.62 and 4.98, respectively.
SBUX’s P/S Ratio (Forward 12-Month) vs. Industry
Image Source: Zacks Investment Research
The Zacks Consensus Estimate for SBUX’s fiscal 2026 earnings per share (EPS) has remained unchanged at $2.40 in the past 30 days.
EPS Trend of SBUX Stock
Image Source: Zacks Investment Research
The Zacks Consensus Estimate for SBUX's fiscal 2026 EPS suggests a 12.7% year-over-year improvement. Conversely, industry players like McDonald's and Dutch Bros are likely to witness growth of 5.8% and 22.4%, respectively, year over year in 2026 earnings.
SBUX’s Zacks RankSBUX stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Starbucks (SBUX +2.02%) has decided it can build better software than Microsoft (MSFT +1.55%) and IBM (IBM +1.65%). If nothing else, it wants to save costs with a homemade version of some high-priced enterprise software platforms.
That is either visionary cost-cutting or a case study in corporate hubris waiting to happen.
According to an internal Starbucks presentation reviewed by Bloomberg News, the coffee chain is developing AI-powered tools to replace a Microsoft inventory-tracking system and an IBM maintenance management platform. Starbucks spends about $400 million a year on software, and Chief Technology Officer Anand Varadarajan told employees there are "clear opportunities to reduce the spend."
The market took notice. Microsoft fell 2.4% and IBM dropped 5.2% as the Bloomberg article was published on Thursday morning. Starbucks rose more than 3% on the potentially cost-saving news. Toast (TOST +2.93%) shares enjoyed a short-lived 2.3% spike at the same time.
Image source: Getty Images.
The "we'll just build it ourselves" phase Every company goes through this. The software bills pile up, someone in the C-suite discovers that AI can write code now, and suddenly the business plan includes "proprietary platform development."
But easier to build does not mean easier to maintain. Enterprise-scale systems require ongoing security updates, integration work, and dedicated engineering headcount. Starbucks recently gave up on an AI-powered inventory tracking system and reverted to manual asset counts. That's a stark reminder that internal development comes with its own failures and costs.
To be fair, Starbucks has the scale and resources to pull this off. The grand cost-cutting plan aims to slash annual costs by more than $2 billion, and software is just a small part of this effort.
The long-term question is whether companies that pursue in-house AI builds will eventually seek out modern, vertically integrated platforms once the maintenance burden rears its ugly head.
That's where Toast comes in.
Toast is playing a different game Toast operates a cloud-based platform for restaurants that combines point-of-sale hardware, payment processing, and operational software. Wherever data or software is involved in running a single restaurant or a whole chain, Toast has integrated that issue into its comprehensive system.
The company ended Q1 2026 with 171,000 live locations, up 22% year over year, and has been expanding aggressively into enterprise accounts. Recent wins include Hungry Howie's (500 units), Papa Murphy's, and Preferred Hotels.
"We continue to see strong growth, and with the pipeline in front of us, I am confident enterprise will be a meaningful growth driver for years to come," CEO Aman Narang said in May's Q1 earnings call. "For 14 years, we have evolved from a point-of-sale solution into a comprehensive system of record, helping customers manage operations, employees, guests, and suppliers."
Image source: The Motley Fool.
Why the Starbucks situation matters for Toast investors Toast is not going to win the Starbucks account tomorrow, and probably not ever. Starbucks has a firmly established mobile app, a massive loyalty program, and the kind of global complexity that would make any outside vendor nervous. Maybe it takes a giant like IBM or Microsoft to handle the chain's inventory management.
But the Starbucks news highlights two dynamics that seem to favor specialists like Toast over the long term:
Legacy software vendors are vulnerable. Oracle (ORCL 4.30%) Simphony, the point-of-sale (POS) system Starbucks has been trying to replace for years, represents the kind of modular enterprise software that can be replaced. Large enterprises are willing to spend to solve operational pain points. The $400 million Starbucks spends annually on software represents the scale of tech operations budgets that could eventually flow to modern third-party platforms. Right now, that experiment is AI-assisted in-house development. In a few years, when the maintenance bills arrive and the original developers have moved on, some of those companies should start shopping for integrated platforms built by specialists. You know, with built-in support and maintenance contracts.
That is where Toast wants to be. The company has been embedding AI throughout its operations in recent years. As a result, Toast's engineering velocity (aka software development efficiency) is up 60%, and AI now handles 40% of customer support interactions. Toast IQ, the company's analytics and agent platform, has 40,000 weekly active locations. Pilot users of its AI marketing agent reported an 8% average increase in sales.
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The investment case The stock trades at about 45 times trailing earnings, which is not exactly cheap. But Toast has been profitable since 2024, has grown revenue at least 24% every year for the past six years, and just posted 21% GAAP operating margins.
The Starbucks news is not necessarily a reason to buy Toast today. But investors should watch the enterprise software market and consider which companies are positioned to benefit when the in-house AI experiments run their course.
Toast has a seat at that table. Whether it gets served remains to be seen.
Starbucks vyvíjí vlastní systémy, které mají nahradit software od Microsoftu, IBM a Oracle. Firma tím chce snížit náklady na software, které podle interních údajů činí zhruba 400 milionů USD ročně.
Starbucks is developing in-house systems that could replace software it buys from Big Tech companies, Bloomberg News reported Thursday (July 9).
The coffee chain is working on alternatives to a system from Microsoft that monitors inventory as well as a maintenance management tool from IBM, the report said, citing an internal presentation.
Starbucks has also been working for several years on creating a point-of-sale system that would replace Oracle Simphony, according to the report.
Starbucks declined to comment when reached by PYMNTS beyond sharing a company blog post about its approach to AI.
The moves are part of a larger shift happening in the business world.
“For two decades, buying enterprise software meant accepting a vendor’s feature set, paying per seat and hiring specialists to manage the platform,” PYMNTS reported Wednesday (July 8). “For small businesses, that model often meant paying for capabilities they never used. AI coding tools are changing that calculation.”
Five startups and small companies with staff ranging from 20 to 70 people switched from working with Salesforce and HubSpot in the last six months, turning instead to in-house applications built using AI tools from Anthropic, Lovable and Replit. These businesses reduced software costs by 40% to 80%.
Research and advisory firm Gartner found that up to $234 billion of enterprise application software spending will be exposed to agentic arbitrage by the end of 2030, or roughly 20% of all enterprise software-as-a-service spending.
“Agentic AI changes the economics of software,” George Brocklehurst, managing vice president at Gartner, said in a July 1 news release.
Retool, a low-code platform for building custom internal tools, found that 35% of enterprises have already swapped out at least one SaaS tool with a custom-built alternative, with 78% saying they intend to develop more this year.
Starbucks spends roughly $400 million per year just on software, Chief Technology Officer Anand Varadarajan told employees in an internal forum earlier this year, according to the Bloomberg report.
“There’s clear opportunities to reduce the spend in software,” Varadarajan said, per the report.
While in-house software can be cheaper for companies like Starbucks, which hopes to lower costs by $2 billion for its turnaround plan, building can lead businesses to pay more for maintenance and labor, the report said.
Starbucks ve 2. čtvrtletí fiskálního roku 2026 poprvé po více než dvou letech vykázal meziroční růst tržeb i zisku a zvýšil výhled pro fiskální rok 2026. Akcie jsou letos výše o 23,1 % a blízko 52týdenního maxima.
Key Takeaways Starbucks returned to year-over-year revenue and earnings growth while raising its fiscal 2026 outlook.SBUX is benefiting from stronger customer traffic, rewards growth and continued menu innovation.International momentum, including China, and higher earnings estimates support Starbucks' turnaround. Starbucks Corporation’s (SBUX - Free Report) shares have rallied 23.1% year to date, significantly outperforming the industry’s 1.9% growth. The strong momentum has pushed the stock close to its 52-week high of $108.88. Yesterday, Starbucks closed at $103.61, just 4.8% below that peak, reflecting growing investor confidence in its turnaround strategy.
Starbucks' recent rally reflects growing confidence in its turnaround strategy. The company posted its first year-over-year revenue and earnings growth in more than two years, raised the fiscal 2026 outlook and benefited from strong comparable sales, improving customer traffic, successful menu innovation and a stronger Starbucks Rewards program, reinforcing investor optimism.
Even among the top industry players, SBUX stands tall, outperforming McDonald's Corporation (MCD - Free Report) , Chipotle Mexican Grill, Inc. (CMG - Free Report) and Yum! Brands, Inc. (YUM - Free Report) .
Price Performance
Image Source: Zacks Investment Research
Turnaround Strategy Is Delivering ResultsOne of the biggest catalysts behind Starbucks stock rally has been its return to revenue and earnings growth. During the second quarter of fiscal 2026, Starbucks reported year-over-year growth in both metrics for the first time in more than two years. Global comparable-store sales rose 6%, driven by more than 7% comparable sales growth in North America and strong transaction gains across all dayparts. Importantly, management noted that customer traffic reached its strongest level in three years, indicating that the company's operational improvements are encouraging consumers to visit more frequently.
The turnaround has been supported by the rollout of the Green Apron Service model, which focuses on better staffing, faster service and improved customer experience. Starbucks reported rising customer satisfaction scores while maintaining service speed despite handling higher transaction volumes. The company is also introducing scheduled mobile order pickup, which should improve convenience and throughput. These initiatives are helping restore Starbucks' premium customer experience while increasing store productivity.
Innovation and Loyalty Are Driving DemandStarbucks continues to strengthen customer engagement through product innovation and an upgraded loyalty ecosystem. New beverage launches, including premium Matcha drinks, energy refreshers and seasonal offerings, have generated strong demand and expanded afternoon sales opportunities. The company also highlighted rapid growth in its Cold Foam platform and refreshers business, which continues to attract younger consumers.
At the same time, Starbucks Rewards has become a key growth engine. Active U.S. Rewards membership reached a record 35.6 million, while the redesigned program has increased customer engagement and visit frequency. Management noted that the new 60-star redemption option has quickly become the most popular reward, supporting repeat visits and reinforcing customer loyalty. These initiatives, combined with targeted marketing, have helped improve brand affinity to its highest level in five years.
International Momentum Adds Another Growth AvenueThe recovery is no longer limited to North America. Starbucks reported positive comparable sales across all 10 of its largest international markets for the first time in nine quarters. China recorded another quarter of transaction-led growth, while Japan and South Korea delivered particularly strong performances.
The recently completed partnership with Boyu Capital also positions Starbucks China for long-term expansion while reducing capital intensity. Management expects the new licensing structure to improve profitability and support faster expansion across more than 1,500 Chinese county-level cities over the next three years. The company also reaffirmed plans to open 600-650 net new stores globally in fiscal 2026, providing another growth catalyst.
What Could Slow the Rally?Despite the encouraging progress, several risks could temper Starbucks stock’s momentum.
Management acknowledged that the macroeconomic environment remains uncertain. Although customer demand has remained resilient, executives cautioned that higher fuel prices and broader economic pressures could eventually weigh on consumer spending. Starbucks incorporated this uncertainty into its updated fiscal 2026 guidance, suggesting management remains cautious despite recent strength.
Margin pressures have not disappeared. Product and distribution costs remain elevated due to coffee inflation, tariffs and innovation-related expenses. While Starbucks expects these headwinds to ease in the second half of fiscal 2026, any rebound in commodity prices or prolonged tariff impacts could pressure profitability.
Sustaining the rally will require continued flawless execution of the "Back to Starbucks" strategy. The company is making significant investments in labor, technology and store upgrades, and investors will expect these investments to continue generating stronger traffic, higher comparable sales and expanding margins. Any slowdown in execution or a weakening of consumer demand could reduce enthusiasm for the turnaround.
SBUX’s Estimate Revision TrendThe Zacks Consensus Estimate for SBUX's fiscal 2026 and 2027 EPS moved up in the last 60 days, indicating positive sentiment among analysts for its earnings.
Image Source: Zacks Investment Research
Taking a Look at Starbucks’ ValuationSBUX stock is trading below the industry. With a forward 12-month price/sales ratio of 2.98X, below its industry average. Meanwhile, other industry players like McDonald's, Chipotle Mexican Grill and Yum! Brands are trading at 6.85X, 3.23X and 4.96X, respectively.
P/S (F12M)
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End NotesStarbucks is making meaningful progress in its turnaround, supported by improving operations, stronger customer engagement, successful product innovation and growing momentum across international markets. These factors, along with improving earnings expectations and a reasonable valuation, support a Hold stance for existing investors. However, with the stock trading close to its 52-week high after a strong rally, much of the near-term optimism appears to be reflected in the share price.
In addition, macroeconomic uncertainty, lingering cost pressures and the need for continued flawless execution of the "Back to Starbucks" strategy could limit further upside. As a result, existing investors may consider holding the stock to benefit from the ongoing turnaround, while new investors may be better served waiting for a more attractive entry point.
Starbucks currently has a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Starbucks Rewards dosáhl rekordu 35,6 milionu aktivních členů a podpořil růst návštěvnosti i tržeb v obchodech. Firma zároveň zvýšila výhled pro fiskální rok 2026, nově čeká globální růst srovnatelných tržeb alespoň o 5 % a zisk na akcii mezi 2,25 a 2,45 USD.
Key Takeaways Starbucks Rewards reached a record 35.6 million active members as customer visits increased.SBUX posted 6.2% global comparable sales growth, driven by higher transactions and faster service.Loyalty enhancements, menu innovation and raised 2026 guidance support Starbucks' growth outlook. Starbucks Corporation (SBUX - Free Report) appears to be regaining momentum, with its revamped Starbucks Rewards program emerging as a key driver of higher customer engagement and store traffic. During the second quarter of fiscal 2026, the coffee giant reported its first year-over-year growth in both revenues and earnings in more than two years, signaling that the "Back to Starbucks" turnaround strategy is gaining traction.
The company's redesigned loyalty program helped lift 90-day active Starbucks Rewards membership to a record 35.6 million, up 4% year over year. More importantly, management highlighted that both Rewards members and non-members increased their visits during the quarter. The newly introduced 60-star redemption option quickly became the most popular reward, accounting for roughly one-third of all redemptions, while early data showed more customers visiting Starbucks four or more times each week.
The loyalty strategy is working alongside operational improvements. Starbucks posted 6.2% global comparable sales growth, including 7.1% comparable sales growth in the United States, driven by transaction growth of more than 4%. Faster service through its Green Apron Service model, expanded delivery, menu innovation and improved in-store experiences have complemented the Rewards program by encouraging repeat visits.
Management noted that the revamped Rewards platform is designed to emphasize personalization and customer recognition rather than heavy discounting. Instead of disrupting customer behavior, the changes produced higher membership and engagement, even during a period when Rewards participation typically declines seasonally.
Starbucks raised its fiscal 2026 guidance, now expecting global comparable sales growth of at least 5% and earnings per share between $2.25 and $2.45. While inflation, coffee costs and broader macroeconomic uncertainty remain as risks, the company's strengthening loyalty ecosystem and improving customer experience position it to sustain higher store traffic and support long-term growth.
Can Rivals Match Starbucks' Loyalty-Driven Traffic Growth?Starbucks' renewed focus on loyalty and customer engagement is intensifying competition with Dutch Bros (BROS - Free Report) and Restaurant Brands International's (QSR - Free Report) Tim Hortons. Dutch Bros continues to expand rapidly through new store openings and its Dutch Rewards program, which encourages repeat visits with personalized offers and app-based ordering. Its younger customer base and strong beverage innovation have helped drive transaction growth, making Dutch Bros a formidable challenger in the specialty coffee market.
Meanwhile, Restaurant Brands International's Tim Hortons is leveraging its extensive footprint and Tims Rewards loyalty platform to increase customer frequency across Canada and select international markets. The brand continues to invest in digital ordering, personalized promotions and value offerings to strengthen customer retention.
While both competitors are enhancing their loyalty ecosystems, Starbucks currently holds an advantage with its record 35.6 million active Rewards members, stronger personalization features and improved in-store experience. Continued execution of its loyalty strategy and operational improvements could help Starbucks maintain higher customer traffic despite intensifying competition.
SBUX’s Price Performance, Valuation & EstimatesShares of Starbucks have gained 11.4% in the past year against the industry’s 5.1% decline.
SBUX’s One-Year Price Performance
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From a valuation standpoint, SBUX trades at a forward price-to-sales (P/S) multiple of 3.00, below the industry’s average of 3.41.
SBUX’s P/S Ratio (Forward 12-Month) vs. Industry
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The Zacks Consensus Estimate for SBUX’s fiscal 2026 earnings per share (EPS) implies a year-over-year increase of 12.7%. EPS estimates for fiscal 2026 have increased in the past 60 days.
EPS Trend of SBUX Stock
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SBUX’s Zacks RankSBUX stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Starbucks ve 2. čtvrtletí fiskálního roku 2026 zvýšil konsolidovanou provozní marži na 9,4 %, ale v Severní Americe klesla na 10,2 % kvůli nákladům, clu a drahé kávě. Firma čeká, že ve 2. polovině fiskálního roku 2026 tlak na marže poleví.
Key Takeaways SBUX's North America operating margin fell about 170 bps YoY to 10.2% in Q2 FY26.Product, distribution and legal accrual pressures weighed on SBUX's North America margins in Q2.SBUX expects stronger sales leverage and easing coffee and tariff pressure in 2H FY26. Starbucks Corporation (SBUX - Free Report) is entering the back half of fiscal 2026 with improving sales momentum, but North America margin pressure remains an important test for the turnaround. In the fiscal second quarter, consolidated operating margin expanded 110 basis points year over year to 9.4%, marking Starbucks’ fiscal first quarter of consolidated margin expansion since the first quarter of fiscal 2024. However, margin performance in North America remained under pressure, with segment operating margin contracting approximately 170 basis points year over year to 10.2%.
The margin contraction reflected several cost and accrual-related pressures. Starbucks’ North America margins were affected by roughly 190 basis points of product and distribution cost increases as a percentage of revenues, as well as greater-than-anticipated legal accruals. About half of the product and distribution increase was tied to innovation-led product mix, while the remaining pressure was largely related to tariffs and elevated coffee prices.
The second-half setup is more balanced. Starbucks expects coffee and tariff pressures to begin easing in the back half of fiscal 2026, helped by recent trends in coffee prices. The benefit may not appear immediately because Starbucks’ coffee costs typically lag market movements due to purchasing and hedging practices. Still, a moderation in these pressures could help reduce one of the more visible drags on North America’s profitability.
For the back half of fiscal 2026, the margin recovery case depends on Starbucks converting stronger U.S. traffic into better profit flow-through. The company expects stronger sales leverage over the next two quarters, supported by continued progress on cost-savings initiatives. If those benefits materialize alongside easing coffee and tariff pressure, Starbucks could have a clearer path to offsetting North America margin headwinds.
How Starbucks’ Margin Setup Compares With PeersDutch Bros Inc. (BROS - Free Report) is navigating a similar input-cost backdrop, with higher coffee costs and food rollout expenses driving a 120-basis-point increase in beverage, food and packaging costs as a percentage of company-operated shop revenues in the first quarter of 2026. The impact was partly mitigated by operating leverage, as labor costs improved 120 basis points and adjusted SG&A improved 100 basis points as a percentage of revenues. For 2026, BROS expects adjusted EBITDA margin pressure from higher coffee and occupancy costs, partially offset by SG&A leverage.
McDonald’s Corporation (MCD - Free Report) provides a scale-driven comparison. The company reported an adjusted operating margin of 46% and more than $3.6 billion in restaurant margins in the first quarter, although U.S. company-operated margins remained under pressure. To manage cost volatility, MCD is relying on supply-chain scale, supplier partnerships and hedging strategies while also reviewing the optimal mix of company-operated and franchised restaurants.
Against this backdrop, Starbucks’ margin challenge is more closely tied to North America turnaround investments and input-cost pressure. BROS is relying on labor efficiency and SG&A leverage to cushion coffee and occupancy headwinds, while MCD benefits from scale, franchising and supply-chain discipline. For Starbucks, Green Apron Service investments, innovation-related costs and operating discipline remain important variables in determining whether Back to Starbucks can translate into stronger operating leverage.
SBUX’s Price Performance, Valuation & EstimatesShares of Starbucks have gained 8.5% in the past year against the industry’s 8.2% decline.
SBUX’s One-Year Price Performance
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From a valuation standpoint, SBUX trades at a forward price-to-sales (P/S) multiple of 2.93, below the industry’s average of 3.32.
SBUX’s P/S Ratio (Forward 12-Month) vs. Industry
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The Zacks Consensus Estimate for SBUX’s fiscal 2026 earnings per share (EPS) implies a year-over-year increase of 12.7%. The EPS estimates for fiscal 2026 have increased in the past 60 days.
EPS Trend of SBUX Stock
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SBUX’s Zacks RankSBUX stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Starbucks uvedl, že doručování v jeho americkém vlastněném byznysu letos vzrostlo o více než 30 % a ve 2. čtvrtletí fiskálního roku 2026 přispělo k růstu srovnatelných tržeb i transakcí. V USA tržby na srovnatelné bázi stouply o 7,1 %.
Key Takeaways SBUX said delivery has grown more than 30% YTD across its U.S. company-operated business.SBUX reported 7.1% U.S. comparable sales growth in Q2 FY26, driven by transaction growth of more than 4%.SBUX is expanding delivery alongside cafes, drive-thrus and mobile pickup to broaden customer access. Starbucks Corporation (SBUX - Free Report) is seeing delivery become a more visible comp-growth lever as the company broadens customer access across its U.S. store base. During the second quarter of fiscal 2026, delivery contributed to both comp ticket and transaction growth, underscoring its role as a measurable access-point gain within the Back to Starbucks recovery.
The momentum follows Starbucks’ expansion of delivery access across its U.S. company-operated portfolio last fiscal year. The company stated that delivery has proven to be a largely incremental revenue stream, growing more than 30% year to date (YTD) across its U.S. company-operated business. The delivery growth strengthens Starbucks’ access-point strategy, adding an incremental demand channel alongside cafés, drive-thrus and mobile pickup.
The broader U.S. comp recovery provides a stronger base for delivery to scale. In the fiscal second quarter, U.S. comparable sales rose 7.1%, led by transaction growth of more than 4%. Starbucks also reported transaction growth across all dayparts in its U.S. company-operated business, with mornings roughly back to fiscal 2022 levels. This improving traffic backdrop gives the company a stronger foundation to expand delivery as part of its broader access-point strategy.
The opportunity is tied to execution. As Starbucks improves staffing, scheduling and order sequencing, it is trying to support higher volumes across cafés, drive-thrus, mobile order pickup and delivery while keeping service times on target. Customer service times remained on target despite higher transaction volumes, while upcoming scheduled ordering is expected to bring more predictability to mobile order flow.
Delivery’s role in Starbucks’ U.S. growth story will likely depend on whether it can keep the channel incremental while preserving service execution. If the company sustains delivery momentum while maintaining operating discipline, the channel could become a more durable U.S. comp lever within the broader Back to Starbucks strategy.
How Starbucks Stacks Up to CompetitorsDutch Bros Inc. (BROS - Free Report) provides a relevant benchmark because it is also expanding beverage occasions through digital access, rewards engagement and menu innovation. Order ahead reached approximately 15% of the total transaction mix in the first quarter of 2026, while Dutch Rewards accounted for 74% of transactions. BROS is also using food attachment and energy innovation, including Myst Energy Refreshers, to support frequency and transaction growth.
McDonald’s Corporation (MCD - Free Report) offers a broader scale comparison, as it is using value, marketing and beverage innovation to drive traffic across dayparts. In the first quarter, U.S. comparable sales rose 3.9%, supported by value platforms, meal deals and menu activity. MCD also expanded its McCafe beverage platform with refreshers and crafted sodas, with additional flavors and Red Bull-infused energy drinks planned during the year.
Against this backdrop, Starbucks’ positioning depends on whether delivery can remain incremental while service execution holds. BROS is leaning on order ahead, rewards, food and customized energy to build frequency, while MCD is using value, scale and beverage innovation to reinforce traffic. Starbucks’ differentiation lies in using delivery as a measurable access-point lever, with the channel already contributing to ticket and transaction growth and growing more than 30% year to date across U.S. company-operated stores.
SBUX’s Price Performance, Valuation & EstimatesShares of Starbucks have gained 10.4% in the past year against the industry’s 8.9% decline.
SBUX’s One-Year Price Performance
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From a valuation standpoint, SBUX trades at a forward price-to-sales (P/S) multiple of 2.90, below the industry’s average of 3.24.
SBUX’s P/S Ratio (Forward 12-Month) vs. Industry
Image Source: Zacks Investment Research
The Zacks Consensus Estimate for SBUX’s fiscal 2026 earnings per share (EPS) implies a year-over-year increase of 12.7%. The EPS estimates for fiscal 2026 have increased in the past 60 days.
EPS Trend of SBUX Stock
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SBUX’s Zacks RankSBUX stock currently flaunts a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Starbucks (SBUX +1.80%) may be on the verge of a major expansion, one that investors should note.
The global coffee giant currently operates more than 40,000 stores in 88 markets on six different continents (it has yet to establish an outpost in Antarctica).
More than 22,000 of those stores are outside the U.S. and Canada, a number that could increase substantially in the coming years, according to the company's CEO.
At the Evercore Consumer and Retail Conference in New York this week, Starbucks CEO Brian Niccol said the company can grow aggressively outside the U.S., claiming it could double its store count in other countries. He said that in China alone, the company will go from 8,000 stores today to 20,000 stores "in short order."
Niccol also said Starbucks is looking to open an additional 10,000 stores in the U.S., particularly in underpenetrated areas in the middle of the country, as today the company has a coastal bias.
Image source: Getty Images.
The company began as a single store in Seattle in 1971, selling whole bean coffee, tea, and spices.
The turnaround seems to be working Starbucks' share price is up 20% so far in 2026, after several difficult years when it moved sideways to slightly down, due to flagging sales and a loss of customers who were tired of the coffee chain's long waits and inconsistent product quality, among other problems.
Niccol, a former CEO at Chipotle, was hired in 2024 to turn the business around, and he seems to be having some success this year.
Among other changes in his "Back to Starbucks" strategy, Niccol cut almost 2,000 corporate workers from its payroll and closed hundreds of underperforming locations. He also had the company invest in stores to increase the timeliness and quality of orders.
In the second quarter (ended March 29), the company increased revenue 9% year over year to $9.5 billion and boosted earnings 14.5% to $0.50 a share. Both figures beat Wall Street's expectations, sending the stock higher. The quarter was the second consecutive period that the company saw traffic growth at its locations. Management also increased full-year guidance for 2026.
The stock is up about 5% since the second quarter results were announced.
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Niccol's turnaround is just a few quarters old, of course, but it looks like the strategy is gaining traction, and the market recognizes it. If his plan to double the international store count comes to fruition, investors might be very happy they invested $1,000 in the stock today.
