Starbucks — Jan 28, 2026 release

comparable store sales growth of 3% or greater, with consolidated net revenues growing at a similar rate; • Non-GAAP consolidated operating margin to slightly improve year over year; • Non-GAAP earnings per share in the range of $2.15 to $2.40; and • Approximately 600 to 650 net new coffeehouses globally across company-operated and licensed businesses. Please refer to the section entitled "Non-GAAP Disclosure" and the reconciliation of GAAP measures to non-GAAP measures at the end of this release. Certain projected non-GAAP financial measures cannot be reconciled to the most comparable GAAP measure without unreasonable effort. To provide the best view of expectations for the underlying business, fiscal year 2026 guidance assumes Starbucks China retail operations remain company-operated in the second half of the fiscal year. The company will provide additional information regarding its business outlook during its regularly scheduled quarterly earnings conference call. Conference Call Starbucks will hold a conference call today at 8:00 a.m. Eastern Time, which will be hosted by Brian Niccol, chairman and ceo, and Cathy Smith, cfo. The call will be webcast and can be accessed at http://investor.starbucks.com . A replay of the webcast will be available until end of day Friday, March 13, 2026. The company uses its website as a tool to disclose important information about the company and comply with its disclosure obligations under Regulation Fair Disclosur