Starbucks Reports Record Q3 Financial And Operating Results

Q3 Fiscal 2017 Highlights 

• Global comparable store sales increased 4% 
• Americas comp store sales increased 5% 
• U.S. comp store sales increased 5%, driven by a 5% increase in average ticket 
• U.S. average ticket increased 4% - transactions grew 1% after adjusting for the estimated impact of order consolidation following the shift in the Starbucks Rewards™ loyalty program from a frequency-based to spend-based model in Q3 FY16 
• CAP comp store sales increased 1% 
• China comp store sales increased 7%, driven by a 5% increase in transactions 
• Consolidated net revenues grew 8% to a Q3 record $5.7 billion; up 9% after excluding $53.7 million of unfavorable foreign currency translation 
• GAAP operating income increased 2% to $1.0 billion, inclusive of impairments 
• Non-GAAP operating income up 13% over non-GAAP operating income in Q3 FY16, to $1.2 billion 
• GAAP operating margin of 18.4% declined 110 basis points versus Q3 FY16, inclusive of impairments 
• Non-GAAP operating margin expands 100 bps over Q3 FY16, to 20.8% 
• GAAP EPS of $0.47 per share, down 8% versus Q3 FY16, inclusive of impairments 
• Non-GAAP EPS up 12% over Q3 FY16, to $0.55 per share 
• The company opened 575 net new stores globally, bringing total store count to 26,736 across 75 countries 
• Starbucks Rewards membership up 8% year-over-year, to 13.3 million active members 
• Starbucks Rewards represented 36% of U.S. company-operated sales 
• Mobile Payment increased to 30% of transactions in U.S. company-operated stores 
• Mobile Order and Pay increased to 9% of transactions in U.S. company-operated stores 
• The company repurchased 3.5 million shares of common stock in Q3 FY17; approximately 95 million shares remain available for purchase under current authorizations 
• The Board of Directors declared a cash dividend of $0.25 per share, payable on August 25, 2017, to shareholders of record as August 10, 2017 

Read Full Report.