Starbucks stock enters fiscal 2027 with margins in focus

Published on 11/05/2026 at 17:05 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Starbucks stock enters fiscal 2027 with stronger comparable sales and wider margins. China remains a drag on reported revenue comparisons.

Starbucks enters fiscal 2027

Fourth-quarter global comparable sales rose as North American demand strengthened.
Management expects fiscal 2027 earnings growth despite lower reported revenue.
The China joint venture continues to reshape international revenue comparisons.

Starbucks Corp., US8552441094, Illustration mit AI erstellt.

Starbucks entered fiscal 2027 with stronger North American demand, wider margins and a new earnings outlook after its fiscal fourth-quarter report on October 29. The company said global comparable coffeehouse sales rose 7.2 percent in the 13-week quarter ended September 27, while North America comparable sales increased 7.9 percent. Starbucks' financial release also reported a non-GAAP operating margin of 14.0 percent and non-GAAP earnings per share of 0.80 US dollars.

North America drives the recovery

The sales improvement came from both customer activity and spending. North American comparable transactions increased 2.7 percent, while the average ticket rose 5.0 percent. Starbucks attributed the margin expansion to sales leverage and lower restructuring costs.

The quarter also included a mixed international picture. International comparable sales increased 0.9 percent, as a higher average ticket offset a 2.8 percent decline in transactions. Consolidated revenue fell 4.5 percent to 9.14 billion US dollars, primarily because Starbucks shifted its China retail operations to a licensed joint venture model.

Guidance sets the next test

For fiscal 2027, Starbucks expects consolidated revenue to decline approximately 1 percent, while North America comparable sales are projected to grow approximately 4.0 percent. Management guides to a non-GAAP operating margin of 13.5 to 14.0 percent and non-GAAP earnings per share of 3.15 to 3.25 US dollars. The outlook includes a 53rd fiscal week and the changed treatment of the China business.

At 17:01 CET on Thursday, November 5, 2026, Starbucks stock traded at 97.64 euros on Lang & Schwarz, 0.74 percent above the Xetra close of Wednesday, November 4, at 96.92 euros. The quote was 1.12 percent above the 96.56-euro Lang & Schwarz price in the previous report published on November 4.

Investors will focus on whether North American traffic and ticket growth can sustain margin expansion while the China transition weighs on reported revenue.