Press release
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Starbucks-Earnings-Release-Q4-FY20
226KB
ottobre 30, 2020 - Starbucks
Starbucks Reports Q4 Fiscal 2020 Results
Comunicato Stampa disponibile solo in lingua originale.
Q4 Comparable Store Sales of -9% in the U.S. and -3% in China, Demonstrating Sustained Recovery
Q4 GAAP EPS of $0.33; Non-GAAP EPS of $0.51 Reflecting Substantial Improvement from Q3
Active Starbucks® Rewards Membership in the U.S. Up 10% Year-Over-Year to 19.3 Million Fiscal 2021 Outlook Reaffirms Path to Full Recovery
SEATTLE – #starbucks Corporation (NASD AQ: SBUX) today reporte d financia
l results for its 13- week fiscal fourth quarter ended Septem ber 27, 2020. GAAP results in fiscal 2020 and fiscal 2019 include items that are exclude d from non- GAAP results. Please refer to
“I am very pleased with our strong finish to the reconcil iation of GAAP measur es to non- GAAP measur es at the end of this release for more information.
Fiscal 2020, underpinned by a faster- than- expecte d recover y in our two lead growth markets , the U.S. and China. These results demons trate the continu ed strength and relevance of our brand, the effectiveness of the actions we’ve taken to adapt to meaningful changes in consumer behavior and the extraordinary efforts of our green apron partners to serve our customers and communities in challenging circums tances,” said Kevin Johnson, president and ceo.
“The guiding principles we established at the onset of the pandemic, combined with our industry-leading digital platform and our ability to innovate rapidly, continue to fuel our recovery and provide confidence in a robust operating outlook for fiscal 2021. Our strategies are working and I am optimistic that we will emerge from the COVID-19 pandemic as a stronger and more resilient company,” concluded Johnson.
Q4 Fiscal 2020 Highlights
• Global comparable store sales declined 9%, driven by a 23% decrease in comparable transactions, partially offset by a 17% increase in average ticket
Americas and U.S. comparable store sales declined 9%, driven by a 25% decrease in comparable transactions, partially offset by a 21% increase in average ticket
International comparable store sales were down 10%, driven by a 15% decline in comparable transactions, partially offset by a 7% increase in average ticket; China comparable store sales were down 3%, with comparable transactions down 7%, partially offset by a 5% increase in average ticket; International and China comparable store sales are inclusive of a benefit from value-added tax exemptions of approximately 2% and 4%, respectively
The company opened 480 net new stores in Q4, yielding 4% year-over-year unit growth, ending the period with 32,660 stores globally, of which 51% and 49% were company- operated and licensed, respectively
Consolidated net revenues of $6.2 billion declined 8% from the prior year primarily due
Stores in the U.S. and China comprised 61% of the company’s global portfolio at the end of Q4, with 15,337 and 4,706 stores, respectively to lost sales related to the COVID-19 outbreak
GAAP operating margin of 9.0%, down from 16.1% in the prior year primarily due to the COVID-19 outbreak, mainly sales deleverage, material investments in retail partner support and other items; GAAP operating margin was also adversely impacted by the Americas store portfolio optimization expenses down from 17.2% in the prior year
GAAP earnings per share of $0.33, down
from $0.67 in the prior year primarily due to unfavorable impacts related to the COVID-19 outbreak totaling approximately -$0.35 per share(1) (2)
Lost sales of approximately $1.2 billion relative to the company’s expectations before the outbreak included the effects of modified operations, reduced hours, reduced customer traffic and temporary store closures(1)
Non-GAAP operating margin of 13.2%,
Non-GAAP earnings per share of $0.51, down from $0.70 in the prior year
• Starbucks® Rewards loyalty program 90-day active members in the U.S. increased to 19.3 million, up 10% year-over-year
Full Year Fiscal 2020 Highlights
• Global comparable store sales declined 14%, driven by a 22% decrease in comparable transactions, partially offset by a 10% increase in average ticket
Americas and U.S. comparable store sales declined 12%, driven by a 21% decrease in comparable transactions, partially offset by an 11% increase in average ticket
International comparable store sales were down 19%, driven by a 23% decline in comparable transactions, partially offset by a 5% increase in average ticket; China comparable store sales declined 17%, driven by a 21% decrease in comparable transactions, slightly offset by a 5% increase in average ticket; International and China comparable store sales are inclusive of a benefit from value-added tax exemptions of approximately 1% and 2%, respectively
• Consolidated net revenues of $23.5 billion declined 11.3% from the prior year primarily
Further information in the press release to download
SBX20201020-Q4FY20Earnings-Feature-1-1
1440x700, 676KB
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