Starbucks has reported consolidated net revenues of US$26.5 billion for the 52-week fiscal year ended 29 September 2019. The marks a 7 per cent increase over the 2018 fiscal year.
Consolidated net revenues grew 10 per cent over the prior year, adjusted for unfavourable impacts of approximately 2 per cent from streamline-driven activities and 1 per cent from foreign currency translation.
“I’m very pleased with our strong finish to fiscal 2019, as we sustained positive momentum across each of our business segments,” said Kevin Johnson, president and ceo.
“Our US business delivered 6 per cent comparable store sales growth in the fourth quarter, while China grew comparable store sales by 5 per cent and total transactions by 13 per cent. Our strong performance throughout fiscal 2019 gives us confidence in a robust operating outlook for fiscal 2020.”
In the past 12 moths, Starbucks global comparable store sales increased 5 per cent, driven by a 3 per cent increase in average ticket and a 1 per cent increase in comparable transactions
Americas and US comparable store sales are up 5 percent, both driven by a 3 per cent increase in average ticket and a 2 per cent increase in comparable transactions.
International comparable store sales grew 3 per cent, driven by a 2 per cent increase in average ticket and a 1 per cent increase in comparable transactions. In China specifically, comparable store sales increased 4 per cent, with comparable transactions remaining flat.
“We are making meaningful progress against our strategic priorities while streamlining the company, bringing more focus and discipline to everything we do,” Johnson says.
“The investments we are making for the long term—in our partners, our stores, beverage innovation and digital—are collectively delivering an elevated Starbucks Experience, as evidenced by all-time-high customer connection scores in the fourth quarter. This long-term focus is instrumental to how we are building an enduring company.”
In the 13-week quarter ended 29 September 2019, Starbucks saw global comparable store sales increase by 5 per cent over the year prior, driven by a 3 per cent increase in average ticket and a 2 per cent increase in comparable transactions.
Consolidated net revenues reached US$6.7 billion, 7 per cent over the same period a year prior.
The company opened 630 net new stores in this quarter, yielding 31,256 stores at the end of the quarter, a 7 per cent increase over the prior year.