Starbucks stock: Q4 beat sets 2027 growth path despite sales drag

Published on 10/31/2026 at 10:41 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Starbucks stock enters the weekend after strong comparable sales and a new fiscal 2027 outlook. China weighs on reported revenue.

Starbucks quarterly momentum and outlook

Global comparable coffeehouse sales increased 7.2 percent in the fiscal fourth quarter, with North America up 7.9 percent.
Fiscal 2027 guidance calls for adjusted earnings per share of 3.15 to 3.25 US dollars despite a projected 1 percent revenue decline.
The China retail transition reduced reported revenue while the company continued its Back to Starbucks turnaround.

Starbucks Corp., US8552441094, Illustration mit AI erstellt.

Starbucks reported its fiscal fourth-quarter and full-year results on Thursday, October 29, with stronger comparable sales and earnings momentum offsetting the effect of its China transaction. The company said in its financial release that global comparable coffeehouse sales rose 7.2 percent in the 13-week period ended September 27.

North America led the quarter with comparable sales growth of 7.9 percent, supported by a 5.0 percent increase in average ticket and a 2.7 percent rise in comparable transactions. US comparable sales increased 7.7 percent. International comparable sales grew 0.9 percent as a 3.7 percent ticket increase was partly offset by a 2.8 percent decline in transactions.

Strong demand meets China headwind

Reported consolidated revenue fell 4.5 percent to 9.14 billion US dollars. Starbucks attributed the decline mainly to the conversion of its China retail operations to a licensed joint venture model. The change lowered company-operated revenue while shifting part of the economics to equity income and license revenue.

GAAP earnings per share reached 0.59 US dollars, compared with 0.12 US dollars a year earlier. Non-GAAP earnings per share rose 54 percent to 0.80 US dollars, while non-GAAP operating margin expanded to 14.0 percent. Starbucks also ended the quarter with 41,607 coffeehouses after opening 303 net new locations.

Fiscal 2027 sets an earnings test

Management expects fiscal 2027 consolidated revenue to decline by approximately 1 percent, primarily because of the China transition and the comparison with the prior reporting structure. The 53-week fiscal year is expected to contribute approximately 700 million US dollars to revenue. North America comparable sales are projected to grow approximately 4.0 percent.

The company guides for non-GAAP operating margin of 13.5 percent to 14.0 percent and non-GAAP earnings per share of 3.15 to 3.25 US dollars. The outlook shifts investor attention from the headline revenue decline to the durability of the North American recovery, traffic trends and margin execution.

Share price and investor context

Starbucks stock traded at 92.86 euros on Lang & Schwarz at 10:39 CET on Saturday, October 31, 0.92 percent above the Xetra close of Friday, October 30. From the Xetra close of Friday, October 23, at 90.66 euros, the stock gained 1.49 percent to Friday, October 30, at 92.01 euros. The real-time quote of Starbucks stock provides the latest trading reference.