Citable filing context

SBUX filing events and research context

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SBUX's research view summarizes recent SEC filing context, starting with debt_offering from May 20, 2026.

SBUX filing events and research context
FiledItemContext
May 20, 2026debt_offeringStarbucks completed cash tender offers to repurchase $1.302 billion of its notes.
May 15, 2026restructuringStarbucks approved a restructuring plan with $400M in charges, including $120M for employee separation benefits.
Apr 28, 2026earningsReported Q2 Fiscal Year 2026 results with $9.5 billion revenue, $0.45 GAAP EPS, and raised FY2026 guidance.
May 15, 2026Guidance: cash_restructuring_charges120.00 to not reported
May 15, 2026Guidance: non_cash_restructuring_charges280.00 to not reported
May 15, 2026Guidance: total_restructuring_charges400.00 to not reported
Apr 28, 2026mda_quarterlyStarbucks reported 9% consolidated net revenue growth to $9.5 billion in Q2 FY26, driven by 6.2% global comparable store sales, including 7.1% in the U.S. and 2.6% internationally. Consolidated operating margin expanded 180 basis points to 8.7%, primarily due to sales leverage and reduced depreciation/store operating costs from the China retail operations reclassification, partially offset by "Back to Starbucks" labor investments and unprofitable store closures. The company completed a joint venture with Boyu Capital for its China retail operations, transitioning 7,991 company-operated stores to a licensed model. Starbucks retains 40% ownership; this shift will lower revenues but boost International operating margins from Q3 FY26, with proceeds allocated to debt reduction. North America revenues rose 7%, but operating income declined 9% due to labor investments and inflationary pressures from coffee and tariffs. International operating income jumped 84%, benefiting from the China JV's cost impact and strong sales leverage. Channel Development revenues increased 39% via the Global Coffee Alliance, though operating margin contracted from product mix shifts. Starbucks ended the quarter with $2.0 billion in cash, down from $3.7 billion, and plans to use China JV proceeds for debt reduction. The company has $3.0 billion in available credit and expects sufficient liquidity, with capital expenditures moderately lower. Commodity price volatility, especially for coffee and dairy, remains a key risk.
Jan 28, 2026mda_quarterlyStarbucks reported a 6% consolidated net revenue increase to $9.9 billion for Q1 fiscal 2026, driven by a 4% rise in global comparable store sales, with the U.S. up 4% and International up 5%. Operating margin contracted 290 basis points to 9.0%, primarily due to significant labor investments supporting the "Back to Starbucks" strategy and inflationary pressures from elevated coffee pricing and tariffs. A major strategic development is the agreement to form a joint venture with Boyu Capital for Starbucks' China retail operations. Assets were classified as held for sale, reducing depreciation and amortization but incurring a $266 million one-time tax expense due to changes in reinvestment assertions, significantly impacting the effective tax rate. Post-closing, accounting will shift to the equity method, with transaction proceeds earmarked for debt reduction. North America saw a 3% revenue increase but its operating margin contracted 480 basis points due to labor investments and inflation. International revenue grew 10%, with its operating margin expanding 100 basis points, benefiting from sales leverage and the China held-for-sale classification, despite restructuring costs and inflation. Channel Development revenue increased 20%, largely from the Global Coffee Alliance, but its margin contracted 640 basis points due to mix shift and higher product costs. Commodity price volatility, particularly for coffee and dairy, remains a key risk. Cash from operations decreased to $1.6 billion, partly due to lower net earnings and payment timing, while capital expenditures are expected to be moderately lower for the fiscal year.

Source: SEC EDGAR filing text and events; period May 20, 2026; filed May 20, 2026.

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