SEATTLE (dpa-AFX) - Starbucks Corporation (SBUX) on Thursday reported a sharp increase in profit for the fourth quarter, while global comparable coffeehouse sales grew 7.2%, supported by higher average ticket and increased transactions.
Net earnings attributable to Starbucks for the quarter surged to $677.2 million, or $0.59 per share, from $133.1 million, or $0.12 per share, a year earlier.
Adjusted earnings per share increased to $0.80 from $0.52.
Net revenues declined 4.5% to $9.14 billion from $9.57 billion, primarily reflecting the conversion of the company's China retail operations to a licensed joint venture model.
Operating margin expanded to 10.8% from 2.9%, primarily due to lower restructuring costs and sales leverage.
For fiscal year 2027, Starbucks expects consolidated net revenue to decline approximately 1% and forecasts adjusted earnings per share of $3.15 to $3.25. The company also expects North American comparable sales growth of about 4% and approximately 1,200 net new coffeehouses globally.
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