STARBUCKS CORP (SBUX) SEC Filing 10-K Annual report for the fiscal year ending Sunday, October 2, 2016

Subscribe PDF Word MS-Excel Facebook Twitter Google+ Evernote Reddit E-mail Ask 9W Smartphone and Tablet last10k.com/sec-filings/sbux/0000829224-16-000083.htm


Exhibit 99.1

Starbucks Reports Record Q4 and Record FY16 Results
Q4 Comparable Store Sales Up 5% in Americas, 4% in the U.S., 6% in China and 4% Globally
Q4 GAAP EPS Up 26% to a Record $0.54; Record Non-GAAP EPS of $0.56 Includes $0.06 for Extra Week
New Stores Opened in the U.S. and China in FY16 Deliver Record AUV's, ROI and Profitability
Company Issues Strong Outlook for Fiscal 2017
Board of Directors Approves 25% Increase in Quarterly Dividend to $0.25 Per Share

SEATTLE; November 3, 2016 – Starbucks Corporation (NASDAQ: SBUX) today reported financial results for its 14-week fiscal fourth quarter and 53-week fiscal year ended October 2, 2016. Fiscal 2016 and fiscal 2015 GAAP results include items which are excluded from non-GAAP results. Please refer to the reconciliation of GAAP measures to non-GAAP measures at the end of this release for more information.

Q4 Fiscal 2016 Highlights:
U.S. comparable store sales increase of 4% was comprised of 6% increase in average ticket and 1% decrease in traffic. After adjusting for the estimated impact of order consolidation related to the new Starbucks RewardsTM loyalty program, average ticket grew 4% and traffic grew 1%.
Consolidated net revenues grew 16% to $5.7 billion
Consolidated operating income increased 27% to $1.2 billion
Consolidated operating margin expanded 180 basis points to 21.5%
GAAP EPS increased 26% to $0.54 per share and included $0.06 related to the extra week in Q4 FY16
Non-GAAP EPS of $0.56 included $0.06 related to the extra week in Q4 FY16. Excluding the extra week, non-GAAP EPS of $0.50 grew 16% over Q4 FY15 non-GAAP EPS
The company opened 690 net new stores in the quarter, bringing total stores to 25,085 in 75 countries worldwide
Mobile Order and Pay represented 6% of U.S. transactions in the quarter, up from 5% in the prior quarter

Fiscal Year 2016 Highlights:
Global comparable store sales increased 5%, comprised of a 6% increase in the Americas segment and a 3% increase in the China/Asia Pacific segment. Comparable store sales in the EMEA segment were flat.
Consolidated net revenues grew 11% to $21.3 billion
Consolidated operating income increased 16% to $4.2 billion
Consolidated operating margin expanded 80 basis points to 19.6%
Company reports record 53- and 52-week, GAAP and non-GAAP revenue, operating income and operating margin
GAAP EPS increased 4% to $1.90 per share and included $0.06 related to the extra week in Q4 FY16
Non-GAAP EPS of $1.91 included $0.06 related to the extra week in Q4 FY16. Excluding the extra week, non-GAAP EPS of $1.85 grew 17% over FY15 non-GAAP EPS
The company opened 2,042 net new stores globally in fiscal 2016, including the first Starbucks stores in Cambodia, Kazakhstan, Luxembourg, Andorra, South Africa, Slovakia, and Trinidad and Tobago


“Starbucks record Q4 and fiscal 2016 financial and operating results in the face of ongoing economic, consumer and geopolitical headwinds, and the significant investments we continue to make in our people and our business, once again demonstrate the power, relevance and resilience of the Starbucks business and brand,” said Howard Schultz, Starbucks chairman and ceo. “The trust and confidence our customers have in the Starbucks brand - and in our store partners - is propelling our business forward in markets and channels around the world as never before.”

"Starbucks Q4 of fiscal 2016 was the most profitable quarter - capping off the most profitable year - in our more than 24 years as a public company," said Scott Maw, cfo. "The strength and health of our business enables us to both fund profitable growth and return significant cash back to shareholders - a record $3.2 billion in fiscal 2016 alone."

- more -

The following information was filed by STARBUCKS CORP on Thursday, November 3, 2016 as an 8K 2.02 statement, which is a press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

Sentiment Analysis off   on

Filter by Sentiment:
Filter by Category:
Filter by Subcategory:
Click a sentiment analysis snippet from SBUX's Management Discussions to find these positive and negative remarks within their 10-K Annual report below:
  • sbux_10k_2016-11-19_177_174
    Financial - Shares / Equity
    These reductions in cash used were partially offset by increased cash returned to shareholders through higher share repurchases and dividend payments compared to fiscal 2015.
  • sbux_10k_2016-11-19_12_18
    Financial - Earnings
    Operating margin expanded 60 basis points to 21.5%, driven by sales leverage, higher income from our joint venture operations and
  • sbux_10k_2016-11-19_116_354
    Financial - Income
    Interest income and other, net decreased $100 million, primarily due to lapping the gain on the sale of our equity interest in our Malaysia joint venture $68 million in the prior year and net unfavorable fair value adjustments from derivative instruments used to manage our risk of commodity price fluctuations $25 million in fiscal 2015.
  • sbux_10k_2016-11-19_169_148
    Financial - Shares / Equity
    We expect to use our available cash and investments, including, but not limited to, additional potential future borrowings under the credit facility and commercial paper program, to invest in our core businesses, including capital expenditures, new product innovations, related marketing support and partner and digital investments, return cash to shareholders through common stock cash dividend payments and share repurchases, as well as other new business opportunities related to our core businesses.
  • sbux_10k_2016-11-19_14_23
    Revenue & Net Sales - Product
    The decline in revenues was primarily driven by lower company-operated store revenues due to the shift to more licensed stores in the region and unfavorable foreign currency translation.
  • sbux_10k_2016-11-19_175_169
    Financial - Earnings
    The change was primarily due to increased earnings, the lapping of the non-cash acquisition related gain for Starbucks Japan and the timing of our cash payments for income taxes.
  • sbux_10k_2016-11-19_7_11
    Financial - Earnings
    The change was primarily due to increased earnings, the lapping of the non-cash acquisition related gain for Starbucks Japan and the timing of our cash payments for income taxes.
  • sbux_10k_2016-11-19_164_138
    Financial - Dividend
    The proceeds from borrowings under our commercial paper program may be used for working capital needs, capital expenditures and other corporate purposes, including, but not limited to, business expansion, payment of cash dividends on our common stock and share repurchases.
  • sbux_10k_2016-11-19_117_355
    Financial - Expense
    Interest expense increased $6 million primarily due to incurring a full quarter of interest in the first quarter of fiscal 2015 on the long-term debt we issued in December of fiscal 2014 as well as the reclassification of $2 million from accumulated other comprehensive income to interest expense related to remaining unrecognized losses from interest rate contracts associated with the 2017 notes redeemed in the fourth quarter of fiscal 2015.
  • sbux_10k_2016-11-19_99_341
    Financial - Expense
    Cost of sales including occupancy costs as a percentage of total net revenues decreased 110 basis points, primarily driven by sales and operating leverage on cost of sales approximately 60 basis points, driven by strong sales and initiatives in our supply chain, such as improvements in sourcing, as well as sales leverage on occupancy costs approximately 40 basis points.
  • sbux_10k_2016-11-19_77_61
    Revenue & Net Sales - Product
    The decrease was primarily due to a decline in company-operated store revenues $179 million, which was largely due to the shift to more licensed stores in the region $132 million and includes the absence of revenues related to the sale of our Germany retail operations, and unfavorable foreign currency translation $69 million.
  • sbux_10k_2016-11-19_157_379
    Financial - Earnings
    The combination of these changes contributed to an overall increase in operating margin of 180 basis points over fiscal 2014.
  • sbux_10k_2016-11-19_90_333
    Financial - Earnings
    The combination of these changes contributed to an overall increase in operating margin of 400 basis points over fiscal 2015.
  • sbux_10k_2016-11-19_83_327
    Financial - Income
    Income from equity investees as a percentage of total net revenues decreased 20 basis points as a result of the sale of our ownership interest in our Spanish joint venture, Starbucks Coffee Espan a, S.L., in the first quarter of fiscal 2016 approximately 20 basis points.
  • sbux_10k_2016-11-19_14_25
    Financial - Earnings
    Compared to fiscal 2015, EMEA operating margin declined 30 basis points to 13.5% primarily due to sales deleverage at certain company-operated stores and
  • sbux_10k_2016-11-19_145_110
    Revenue & Net Sales - Product
    The decrease was primarily due to a decline in company-operated store revenues $103 million, which was largely due to unfavorable foreign currency translation $94 million.
  • sbux_10k_2016-11-19_141_108
    Revenue & Net Sales - Product
    As a percentage of total net revenues, income from equity investees declined 950 basis points, primarily due to the impact of our ownership change in Starbucks Japan approximately 870 basis points.
  • sbux_10k_2016-11-19_228_271
    Other - Other
    Although we believe that the judgments and estimates discussed herein are reasonable, actual results could differ, and we may be exposed to losses or gains that could be material.
  • sbux_10k_2016-11-19_105_80
    Revenue & Net Sales - Product
    As a percentage of total revenues, income from equity investees decreased 30 basis points, primarily due to the impact of our ownership change in Starbucks Japan approximately 30 basis points.
  • sbux_10k_2016-11-19_48_303
    Financial - Income
    Interest income and other, net increased $65 million, primarily due to higher income recognized on unredeemed stored value card balances $21 million, net favorable foreign exchange fluctuations $11 million and gains on our trading securities portfolio $8 million.
  • sbux_10k_2016-11-19_177_173
    Financial - Debt
    The change was primarily due to the lapping of long-term debt redemption in fiscal 2015, higher incremental proceeds from long-term debt issued in February and May 2016 over prior years issuance and lapping of cash used to fund the second tender offer step of the Starbucks Japan acquisition.
  • sbux_10k_2016-11-19_82_326
    Financial - Expense
    Depreciation and amortization expenses as a percentage of total net revenues decreased 70 basis points, primarily due to the shift in the composition of our store portfolio in the region to more licensed stores approximately 40 basis points.
  • sbux_10k_2016-11-19_11_14
    Revenue & Net Sales - Geography
    The Americas segment continued to perform well in fiscal 2016, with revenues growing 11% to $14.8 billion, primarily driven by comparable store sales growth of 6%, comprised of a 5% increase in average ticket and a 1% increase in number of transactions, incremental revenues from 804 net new store openings over the last 12 months and the impact of the extra week in fiscal 2016.
  • sbux_10k_2016-11-19_129_364
    Financial - Earnings
    The combination of these changes resulted in an overall increase in operating margin of 80 basis points over fiscal 2014.
  • sbux_10k_2016-11-19_151_374
    Financial - Earnings
    The combination of these changes resulted in an overall increase in operating margin of 460 basis points over fiscal 2014.
  • sbux_10k_2016-11-19_60_312
    Financial - Earnings
    The combination of these changes resulted in an overall increase in operating margin of 110 basis points over fiscal 2015.
  • sbux_10k_2016-11-19_73_321
    Financial - Earnings
    The combination of these changes resulted in an overall increase in operating margin of 60 basis points over fiscal 2015.
  • sbux_10k_2016-11-19_38_294
    Financial - Earnings
    The combination of these changes resulted in an overall increase in operating margin of 80 basis points over fiscal 2015.
  • sbux_10k_2016-11-19_6_8
    Financial - Earnings
    Earnings per share EPS for fiscal 2016 increased to $1.90 and included $0.06 per share for the extra week in fiscal 2016.
  • sbux_10k_2016-11-19_94_74
    Revenue & Net Sales - Product
    The growth in company-operated store revenues was primarily driven by incremental revenues from the acquisition of Starbucks Japan $1.1 billion, an increase in comparable store sales 7% growth, or $852 million and incremental revenues from 550 net new Starbucks
  • sbux_10k_2016-11-19_105_79
    Financial - Income
    Income from equity investees decreased $18 million, primarily due to the impact of our ownership change in Starbucks Japan and the absence of income from our Malaysia joint venture sold in the fourth quarter of fiscal 2014, partially offset by improved performance from our North American Coffee Partnership and China joint ventures.
  • sbux_10k_2016-11-19_146_372
    Revenue & Net Sales - Product
    Licensed store revenues increased $19 million, or 8%, primarily due to higher product sales to and royalty revenues from our licensees $45 million, resulting from the opening of 238 net new licensed stores over the past 12 months and improved comparable store sales, partially offset by unfavorable foreign currency translation $22 million.
  • sbux_10k_2016-11-19_170_155
    Financial - Expense
    We have borrowed funds domestically and continue to believe we have the ability to do so at reasonable interest rates however, additional borrowings would result in increased interest expense in the future.
  • sbux_10k_2016-11-19_199_206
    Financial - Expense
    Our trading securities portfolio approximates a portion of our liability under our Management Deferred Compensation Plan MDCP, which is included in accrued compensation and related costs, within accrued liabilities on the consolidated balance sheets.
  • sbux_10k_2016-11-19_11_15
    Revenue & Net Sales - Product
    Growth in our iced beverages, including coffee, tea and espresso, paired with beverage innovation and the success of our food offerings, drove the increase in comparable store sales.
  • sbux_10k_2016-11-19_4_275
    Revenue & Net Sales - Product
    Global comparable store sales grew 5% driven by a 4% increase in average ticket and a 1% increase in the number of transactions.
  • sbux_10k_2016-11-19_156_378
    Financial - Income
    Income from equity investees increased $27 million, driven by higher income from our North American Coffee Partnership joint venture, primarily due to increased sales of bottled Frappuccino
  • sbux_10k_2016-11-19_141_107
    Financial - Income
    Income from equity investees decreased $44 million, primarily due to the impact of our ownership change in Starbucks Japan and absence of income from our Malaysia joint venture sold in the fourth quarter of fiscal 2014, partially offset by improved performance from our China joint venture.
  • sbux_10k_2016-11-19_225_263
    Financial - Income
    We adjust our unrecognized tax benefit liability and income tax expense in the period in which the uncertain tax position is effectively settled, the statute of limitations expires for the relevant taxing authority to examine the tax position or when new information becomes available.
  • sbux_10k_2016-11-19_101_78
    Revenue & Net Sales - Product
    Excluding the impact of company-operated store revenues, other operating expenses were flat, primarily due to sales leverage approximately 70 basis points, partially offset by increased marketing expenses approximately 20 basis points, largely due to timing, the impairment of certain assets in the Americas segment approximately 20 basis points and the impact of our ownership change in Starbucks Japan approximately 20 basis points.
  • sbux_10k_2016-11-19_89_332
    Financial - Income
    Income from equity investees as a percentage of total revenues increased 130 basis points, driven by higher income from our North American Coffee Partnership joint venture, primarily due to increased sales volume of Starbucks Doubleshot
  • sbux_10k_2016-11-19_28_38
    Revenue & Net Sales - Product
    The growth in company-operated store revenues was primarily driven by 5% growth in comparable store sales $793 million, incremental revenues from 693 net new Starbucks
  • sbux_10k_2016-11-19_29_287
    Revenue & Net Sales - Product
    Licensed store revenue growth contributed $292 million to the increase in total net revenues, primarily resulting from higher product sales to and royalty revenues from our licensees $285 million, largely due to the opening of 1,372 net new Starbucks
  • sbux_10k_2016-11-19_55_309
    Revenue & Net Sales - Product
    The increase in company-operated store revenues was driven by a 6% increase in comparable store sales $730 million, incremental revenues from 348 net new Starbucks
  • sbux_10k_2016-11-19_123_360
    Revenue & Net Sales - Product
    The increase in company-operated store revenues was driven by a 7% increase in comparable store sales $745 million, as well as incremental revenues from 318 net new Starbucks
  • sbux_10k_2016-11-19_16_279
    Revenue & Net Sales - Product
    The Channel Development segment revenues grew 12% to $1.9 billion in fiscal 2016, primarily due to higher sales of premium single-serve products, driven by sales of Starbucks
  • sbux_10k_2016-11-19_145_111
    Revenue & Net Sales - Product
    Also contributing to the decrease in company-operated revenues was the shift to more licensed stores in the region, which includes net store closures as well as the absence of revenues from the conversion of certain stores in the U.K. from company-operated to licensed.
  • sbux_10k_2016-11-19_95_337
    Revenue & Net Sales - Product
    Licensed store revenue growth also contributed $273 million to the increase in total net revenues, primarily resulting from the opening of 1,075 net new Starbucks
  • sbux_10k_2016-11-19_134_95
    Revenue & Net Sales - Product
    The increase in company-operated store revenues was primarily driven by incremental revenues from the acquisition of Starbucks Japan $1.1 billion.
  • sbux_10k_2016-11-19_134_96
    Revenue & Net Sales - Product
    Also contributing were incremental revenues from the opening of 247 net new company-operated stores over the past 12 months $160 million and a 9% increase in comparable store sales $74 million.
  • sbux_10k_2016-11-19_173_164
    Financial - Shares / Equity
    On April 21, 2016, we announced that our Board of Directors approved an increase of 100 million shares to the program.
  • sbux_10k_2016-11-19_153_376
    Revenue & Net Sales - Product
    Channel Development total net revenues for fiscal 2015 increased $185 million, or 12%, over the prior year, primarily driven by higher sales of premium single-serve products $97 million and U.S. packaged coffee $42 million, as well as an increase in foodservice sales $35 million.
  • sbux_10k_2016-11-19_24_34
    Financial - Earnings
    We plan for our consolidated operating margin to increase slightly in fiscal 2017 when compared to fiscal 2016.
  • sbux_10k_2016-11-19_86_71
    Revenue & Net Sales - Product
    Channel Development total net revenues for fiscal 2016 increased $202 million, or 12%, over the prior year, primarily driven by higher sales of premium single-serve products $101 million.
  • sbux_10k_2016-11-19_49_304
    Financial - Expense
    Interest expense increased $11 million primarily due to interest on the long-term debt we issued in February and May 2016.
  • sbux_10k_2016-11-19_86_72
    Revenue & Net Sales - Product
    The impact of the extra week in fiscal 2016 $40 million, increased foodservice sales $33 million and U.S. packaged coffee sales $28 million also contributed.
  • sbux_10k_2016-11-19_65_53
    Revenue & Net Sales - Product
    The increase in company-operated store revenues was primarily due to the opening of 359 net new company-operated stores over the past 12 months $246 million and incremental revenues from the impact of our ownership in Starbucks Japan
  • sbux_10k_2016-11-19_37_293
    Financial - Income
    Income from equity investees as a percentage of total net revenues increased 20 basis points due to higher income from our joint venture operations, primarily from our North American Coffee Partnership and our joint ventures in China and South Korea.
  • sbux_10k_2016-11-19_149_373
    Financial - Expense
    assets in the region approximately 150 basis points as well as decreased expenses, largely salaries and benefits, driven by the shift to more licensed stores approximately 40 basis points.
  • sbux_10k_2016-11-19_10_13
    Revenue & Net Sales - Product
    Our net revenues grew 11% over fiscal 2015, and consolidated operating margin expanded 80 basis points from 18.8% in fiscal 2015 to 19.6% in fiscal 2016, largely driven by sales leverage and lower commodity costs, partially offset by investments in our partners and digital platforms.
  • sbux_10k_2016-11-19_106_345
    Financial - Earnings
    The overall increase in operating margin of 10 basis points was driven by the changes discussed above, including the impact of our ownership change in Starbucks Japan and the acquisition-related transaction and integration costs, which contributed unfavorably to operating margin approximately 90 basis points.
  • sbux_10k_2016-11-19_176_171
    Financial - Debt
    The change was primarily due to the increase in purchases of investments, primarily government treasury securities and corporate debt securities, partially offset by the lapping of cash used to acquire Sazabys 39.5% ownership interest in Starbucks Japan.
  • sbux_10k_2016-11-19_33_291
    Financial - Expense
    Cost of sales including occupancy costs as a percentage of total net revenues decreased 70 basis points, primarily driven by leverage on cost of sales and occupancy costs approximately 70 basis points and lower commodity costs approximately 50 basis points.
  • sbux_10k_2016-11-19_57_311
    Financial - Expense
    Cost of sales including occupancy costs as a percentage of total net revenues decreased 80 basis points, primarily driven by leverage on cost of sales and occupancy costs approximately 50 basis points and lower commodity costs approximately 40 basis points.
  • sbux_10k_2016-11-19_216_233
    Financial - Cash Flow
    However, as we periodically reassess estimated future cash flows and asset fair values, changes in our estimates and assumptions may cause us to realize material impairment charges in the future.
  • sbux_10k_2016-11-19_222_250
    Financial - Cash Flow
    However, as we periodically reassess estimated future cash flows and asset fair values, changes in our estimates and assumptions may cause us to realize material impairment charges in the future.
  • sbux_10k_2016-11-19_72_320
    Financial - Income
    Income from equity investees as a percentage of total net revenues increased 10 basis points, primarily due to higher income from our joint venture operations, primarily in China and South Korea approximately 70 basis points and 60 basis points, respectively, partially offset by the shift in composition of our store portfolio to more company-operated stores approximately 50 basis points and the impact of our ownership change in Starbucks Japan approximately 50 basis points.
  • sbux_10k_2016-11-19_171_157
    Revenue & Net Sales - Geography
    We have not, nor do we anticipate the need to, repatriate funds to the U.S. to satisfy domestic liquidity needs however, in the event that we need to repatriate all or a portion of our foreign cash to the U.S., we would be subject to additional U.S. income taxes, which could be material.
  • sbux_10k_2016-11-19_219_241
    Financial - Cash Flow
    These estimates are highly subjective, and our ability to realize the future cash flows used in our fair value calculations is affected by factors such as the success of strategic initiatives, changes in economic conditions, changes in our operating performance and changes in our business strategies, including retail initiatives and international expansion.
  • sbux_10k_2016-11-19_78_63
    Revenue & Net Sales - Product
    , or 32%, primarily due to higher product sales to and royalty revenues from our licensees $89 million, resulting from the opening of 294 net new licensed stores and the transfer of 200 company-operated stores to licensed stores over the past 12 months.
  • sbux_10k_2016-11-19_66_55
    Revenue & Net Sales - Product
    Also contributing was a 3% increase in comparable store sales $61 million, the impact of the extra week in fiscal 2016 $52 million and favorable foreign currency translation $49 million.
  • sbux_10k_2016-11-19_165_141
    Other - Other
    We will use the net proceeds from the offering to enhance our sustainability programs around coffee supply chain management through Eligible Sustainability Projects.
  • sbux_10k_2016-11-19_12_17
    Revenue & Net Sales - Geography
    Our fiscal 2016 ChinaAsia Pacific segment results reflected higher revenues from the opening of 981 net new stores over the past year, incremental revenues associated with the ownership change in Starbucks Japan, a 3% increase in comparable store sales and the impact of the extra week in fiscal 2016.
  • sbux_10k_2016-11-19_11_16
    Revenue & Net Sales - Geography
    Americas operating margin grew 110 basis points to 25.3% in fiscal 2016, primarily driven by sales leverage and lower commodity costs, partially offset by investments in our store partners and digital platforms.
  • sbux_10k_2016-11-19_15_278
    Revenue & Net Sales - Geography
    unfavorable foreign currency exchange, partially offset by sales leverage driven by the shift in the portfolio towards more licensed stores.
  • sbux_10k_2016-11-19_113_352
    Other - Other
    Effective tax rate including noncontrolling interests
  • sbux_10k_2016-11-19_45_301
    Other - Other
    Effective tax rate including noncontrolling interests
  • sbux_10k_2016-11-19_164_137
    Other - Other
    Amounts outstanding under the commercial paper program are required to be backstopped by available commitments under our credit facility discussed above.
  • sbux_10k_2016-11-19_28_37
    Revenue & Net Sales - Product
    Total net revenues increased $2.2 billion, or 11%, over fiscal 2015, primarily due to increased revenues from company-operated stores contributing $1.6 billion.
  • sbux_10k_2016-11-19_94_73
    Revenue & Net Sales - Product
    Total net revenues increased $2.7 billion, or 17%, over fiscal 2014, primarily due to increased revenues from company-operated stores contributing $2.2 billion.
  • sbux_10k_2016-11-19_188_184
    Revenue & Net Sales - Geography
    Market risk is defined as the risk of losses due to changes in commodity prices, foreign currency exchange rates, equity security prices and interest rates.
  • sbux_10k_2016-11-19_125_362
    Financial - Expense
    Cost of sales including occupancy costs as a percentage of total net revenues decreased 110 basis points, primarily driven by leverage on cost of sales approximately 60 basis points, lower commodity costs approximately 30 basis points, mainly dairy, and sales leverage on occupancy costs approximately 30 basis points.
  • sbux_10k_2016-11-19_163_128
    Other - Other
    The credit facility is available for working capital, capital expenditures and other corporate purposes, including acquisitions and share repurchases, and is currently set to mature on November 6, 2020.
  • sbux_10k_2016-11-19_3_274
    Revenue & Net Sales - Product
    Total net revenues increased 11% to $21.3 billion in fiscal 2016 compared to $19.2 billion in fiscal 2015.
  • sbux_10k_2016-11-19_161_126
    Revenue & Net Sales - Product
    Our investment portfolio primarily includes highly liquid available-for-sale securities, including corporate debt securities, government treasury securities foreign and domestic, mortgage and asset-backed securities, state and local government obligations and agency obligations.
  • sbux_10k_2016-11-19_161_125
    Other - Other
    We actively manage our cash and investments in order to internally fund operating needs, make scheduled interest and principal payments on our borrowings, make acquisitions, and return cash to shareholders through common stock cash dividend payments and share repurchases.
  • sbux_10k_2016-11-19_124_361
    Revenue & Net Sales - Product
    The increase in licensed store revenues was primarily due to higher product sales to and royalty revenues from our licensees, resulting from increased La BoulangeTM food sales to our licensees beginning in the first quarter of fiscal 2015, as well as the opening of 317 net new
  • sbux_10k_2016-11-19_56_310
    Revenue & Net Sales - Product
    The increase in licensed store revenues was primarily due to higher product sales to and royalty revenues from our licensees $150 million, resulting from the opening of 456 net new
  • sbux_10k_2016-11-19_30_288
    Revenue & Net Sales - Product
    CPG, foodservice and other revenues increased $214 million, primarily due to higher sales of premium single-serve products $106 million, the impact of the extra week in fiscal 2016 $47 million, and increased foodservice sales $34 million and U.S. packaged coffee $32 million.
  • sbux_10k_2016-11-19_139_368
    Financial - Expense
    Depreciation and amortization expenses as a percentage of total revenues increased 220 basis points, primarily due to the impact of our ownership change in Starbucks Japan approximately 210 basis points.
  • sbux_10k_2016-11-19_102_342
    Financial - Expense
    Depreciation and amortization expenses as a percentage of total net revenues increased 40 basis points, primarily due to the impact of our ownership change in Starbucks Japan approximately 30 basis points.
  • sbux_10k_2016-11-19_150_121
    Financial - Expense
    These decreases were partially offset by increased costs to grow our non-retail operations in the region approximately 50 basis points, largely driven by higher marketing costs.
  • sbux_10k_2016-11-19_65_52
    Revenue & Net Sales - Product
    , largely due to increased revenues from company-operated stores contributing $513 million.
  • sbux_10k_2016-11-19_96_338
    Revenue & Net Sales - Product
    CPG, foodservice and other revenues increased $222 million, primarily due to increased sales of premium single-serve products $116 million, U.S. packaged coffee $55 million and foodservice sales $40 million.
  • sbux_10k_2016-11-19_127_89
    Revenue & Net Sales - Product
    Excluding the impact of company-operated store revenues, other operating expenses were flat, primarily driven by sales leverage approximately 60 basis points, offset by the impairment of certain assets in the region approximately 60 basis points.
  • sbux_10k_2016-11-19_122_359
    Revenue & Net Sales - Geography
    Americas total net revenues for fiscal 2015 increased $1.3 billion, or 11%, primarily due to increased revenues from company-operated stores contributing $1.1 billion and licensed stores contributing $260 million.
  • sbux_10k_2016-11-19_134_94
    Revenue & Net Sales - Geography
    ChinaAsia Pacific total net revenues for fiscal 2015 increased $1.3 billion, or 112%, largely due to increased revenues from company-operated stores $1.3 billion.
  • sbux_10k_2016-11-19_54_308
    Revenue & Net Sales - Geography
    Americas total net revenues for fiscal 2016 increased $1.5 billion, or 11%, primarily due to increased revenues from company-operated stores contributing $1.3 billion and licensed stores contributing $184 million.
  • sbux_10k_2016-11-19_88_331
    Financial - Expense
    Other operating expenses as a percentage of total net revenues decreased 40 basis points, primarily driven by sales leverage on marketing expenses and salaries and benefits approximately 30 basis points.
  • sbux_10k_2016-11-19_50_46
    Other - Other
    The effective tax rate for fiscal 2016 was 32.9% compared to 29.3% for fiscal 2015.
  • sbux_10k_2016-11-19_118_84
    Other - Other
    The effective tax rate for fiscal 2015 was 29.3% compared to 34.6% for fiscal 2014.
  • sbux_10k_2016-11-19_224_257
    Financial - Income
    Our assumptions regarding future taxable income are consistent with the plans and estimates we use to manage our underlying businesses.
  • sbux_10k_2016-11-19_195_200
    Financial - Cash Flow
    To reduce cash flow volatility from foreign currency fluctuations, we enter into derivative instruments to hedge portions of cash flows of anticipated intercompany royalty payments, inventory purchases, intercompany borrowing and lending activities and certain other transactions in currencies other than the functional currency of the entity that enters into the arrangements, as well as the translation risk of certain balance sheet items.
  • sbux_10k_2016-11-19_164_139
    Other - Other
    As of October 2, 2016, we had no borrowings under our commercial paper program.
  • sbux_10k_2016-11-19_220_244
    Revenue & Net Sales - Product
    The fair value calculation includes estimates of revenue growth, which are based on past performance and internal projections for the intangible asset groups forecasted growth, and royalty rates, which are adjusted for our particular facts and circumstances.
  • sbux_10k_2016-11-19_135_97
    Revenue & Net Sales - Product
    Licensed store revenues decreased $6 million, primarily due to our ownership change in Starbucks Japan to mostly company-operated stores $45 million.
  • sbux_10k_2016-11-19_5_5
    Financial - Income
    Consolidated operating income increased to $4.2 billion in fiscal 2016 compared to operating income of $3.6 billion in fiscal 2015.
  • sbux_10k_2016-11-19_6_9
    Financial - Shares / Equity
    Fiscal 2015 EPS was $1.82 and included $0.26 per share from the gain on the fair value adjustment of our preexisting equity interest in Starbucks Japan upon acquisition.
  • sbux_10k_2016-11-19_22_30
    Other - Other
    And, our management team continues to align our leadership with our evolving businesses, including the development of our Global Roastery and Starbucks Reserve
  • sbux_10k_2016-11-19_217_406
    Other - Other
    Goodwill and Indefinite-Lived Intangible Assets
  • sbux_10k_2016-11-19_70_59
    Revenue & Net Sales - Product
    Excluding the impact of company-operated store revenues, other operating expenses increased 40 basis points, primarily due to higher payroll-related expenditures approximately 140 basis points, investments in digital platforms approximately 80 basis points and the impact of our ownership change in Starbucks Japan approximately 60 basis points, partially offset by sales leverage approximately 220 basis points.
  • sbux_10k_2016-11-19_107_346
    Other - Other
    Gain resulting from acquisition of joint venture
  • sbux_10k_2016-11-19_39_295
    Other - Other
    Gain resulting from acquisition of joint venture
  • sbux_10k_2016-11-19_218_234
    Other - Other
    We evaluate goodwill and indefinite-lived intangible assets for impairment annually during our third fiscal quarter, or more frequently if an event occurs or circumstances change that would indicate that impairment may exist.
  • sbux_10k_2016-11-19_118_85
    Other - Other
    The decrease in the rate for fiscal 2015 was primarily due to the 3.7% impact of the gain associated with the remeasurement of our preexisting 39.5% ownership interest in Starbucks Japan upon acquisition, which was almost entirely non-taxable, as well as the 1.5% incremental tax benefit related to domestic manufacturing deductions claimed in fiscal 2015 on U.S. corporate income tax returns for fiscal years 2011 through 2015.
  • sbux_10k_2016-11-19_18_26
    Revenue & Net Sales - Product
    Turning to fiscal 2017, we expect continued strength in our revenue, operating margin and earnings per share results in comparison to fiscal 2016.
  • sbux_10k_2016-11-19_31_289
    Financial - Expense
    Cost of sales including occupancy costs
  • sbux_10k_2016-11-19_52_306
    Financial - Expense
    Cost of sales including occupancy costs
  • sbux_10k_2016-11-19_62_314
    Financial - Expense
    Cost of sales including occupancy costs
  • sbux_10k_2016-11-19_97_339
    Financial - Expense
    Cost of sales including occupancy costs
  • sbux_10k_2016-11-19_74_322
    Financial - Expense
    Cost of sales including occupancy costs
  • sbux_10k_2016-11-19_91_334
    Financial - Expense
    Cost of sales including occupancy costs
  • sbux_10k_2016-11-19_120_357
    Financial - Expense
    Cost of sales including occupancy costs
  • sbux_10k_2016-11-19_131_366
    Financial - Expense
    Cost of sales including occupancy costs
  • sbux_10k_2016-11-19_143_370
    Financial - Expense
    Cost of sales including occupancy costs
  • sbux_10k_2016-11-19_158_380
    Financial - Expense
    Cost of sales including occupancy costs
  • sbux_10k_2016-11-19_163_132
    Financial - Earnings
    The current applicable margin is 0.565% for Eurocurrency Rate Loans and 0.00% nil for Base Rate Loans.
  • sbux_10k_2016-11-19_193_196
    Financial - Earnings
    The following table summarizes the potential impact as of October 2, 2016 to Starbucks future net earnings and other comprehensive income OCI from changes in commodity prices.
  • sbux_10k_2016-11-19_136_100
    Revenue & Net Sales - Product
    Sales leverage approximately 40 basis points also contributed.
  • sbux_10k_2016-11-19_199_204
    Financial - Shares / Equity
    We have minimal exposure to price fluctuations on equity mutual funds and equity exchange-traded funds within our trading securities portfolio.
  • sbux_10k_2016-11-19_164_136
    Other - Other
    Under our commercial paper program, we may issue unsecured commercial paper notes up to a maximum aggregate amount outstanding at any time of $1 billion, with individual maturities that may vary but not exceed 397 days from the date of issue.
  • sbux_10k_2016-11-19_166_144
    Other - Other
    In May 2016, we reopened this offering with the same terms and issued an additional $250 million of Senior Notes collectively, the 2021 notes for an aggregate amount outstanding of $750 million.
  • sbux_10k_2016-11-19_135_98
    Revenue & Net Sales - Product
    This decrease was partially offset by increased product sales to and royalty revenues from licensees $27 million, resulting from the opening of 520 net new licensed store openings over the past 12 months, improved comparable store sales, and incremental revenues from the ownership changes in Australia and Malaysia $17 million in the fourth quarter of fiscal 2014.

 Please wait while we load the requested 10-K Annual report. If it does not load, please click the link below:

 https://www.last10k.com/sec-filings/report/829224/000082922416000083/sbux-1022016x10xk.htm

Companies may provide additional information to their SEC Filings as exhibits. Click a link below to view an exhibit that was filed with this report:

Exhibit 10.4 - MATERIAL CONTRACT

 Please wait while we load the requested exhibit. If it does not load, please click the link below:

 https://www.last10k.com/sec-filings/report/829224/000082922416000083/sbux-1022016xexhibit104.htm
Exhibit 10.14 - MATERIAL CONTRACT

 Please wait while we load the requested exhibit. If it does not load, please click the link below:

 https://www.last10k.com/sec-filings/report/829224/000082922416000083/sbux-1022016xexhibit1014.htm
Exhibit 10.21 - MATERIAL CONTRACT

 Please wait while we load the requested exhibit. If it does not load, please click the link below:

 https://www.last10k.com/sec-filings/report/829224/000082922416000083/sbux-1022016xexhibit1021.htm
Exhibit 10.22 - MATERIAL CONTRACT

 Please wait while we load the requested exhibit. If it does not load, please click the link below:

 https://www.last10k.com/sec-filings/report/829224/000082922416000083/sbux-1022016xexhibit1022.htm
Exhibit 12 - STATEMENT REGARDING CALCULATION OF RATIOS

 Please wait while we load the requested exhibit. If it does not load, please click the link below:

 https://www.last10k.com/sec-filings/report/829224/000082922416000083/sbux-1022016xexhibit12.htm
Exhibit 21 - SUBSIDARIES OF THE REGISTRANT

 Please wait while we load the requested exhibit. If it does not load, please click the link below:

 https://www.last10k.com/sec-filings/report/829224/000082922416000083/sbux-1022016xexhibit21.htm
Exhibit 23 - CONSENTS OF EXPERTS AND COUNSEL

 Please wait while we load the requested exhibit. If it does not load, please click the link below:

 https://www.last10k.com/sec-filings/report/829224/000082922416000083/sbux-1022016xexhibit23.htm
Exhibit 31.1 - SECTION 302 CEO CERTIFICATION

 Please wait while we load the requested exhibit. If it does not load, please click the link below:

 https://www.last10k.com/sec-filings/report/829224/000082922416000083/sbux-1022016xexhibit311.htm
Exhibit 31.2 - SECTION 302 CFO CERTIFICATION

 Please wait while we load the requested exhibit. If it does not load, please click the link below:

 https://www.last10k.com/sec-filings/report/829224/000082922416000083/sbux-1022016xexhibit312.htm
Exhibit 32 - SECTION 906 CEO AND CFO CERTIFICATION

 Please wait while we load the requested exhibit. If it does not load, please click the link below:

 https://www.last10k.com/sec-filings/report/829224/000082922416000083/sbux-1022016xexhibit32.htm
  • Form Type: Annual
  • Number of times amended: 0
  • Accession Number: 0000829224-16-000083
  • Submitted to the SEC: Friday, November 18, 2016
  • Accepted by the SEC: Friday, November 18, 2016
  • Period Ending: October 2016
Companies
 

SBUX Morningstar

STARBUCKS CORP

$61.55 -0.01 (-0.02%)

Day's Range:
$61.51 to $61.94

52-Week Range:
$50.84 to $61.94

Volume:
3,647,430

Volume (Avg):
9,987,360

Earnings per Share:
$1.95

PEG / Short / PE Ratios:
1.84 / 1.49 / 31.56

Market Cap:
$89.70B

Book Value:
3.98

EBITDA:
$4.95B