Starbucks Misses Revenue Target as Overseas Demand Slows, U.S. Stores Shine

WHO:

ABC News - Starbucks, the Seattle-based coffee company, reported fiscal fourth-quarter results.

CNBC - Starbucks CEO Brian Niccol said the company was entering fiscal 2027 with momentum and higher ambitions; CFO Cathy Smith discussed factors affecting the outlook.

CNBC - Wall Street expectations were based on analyst surveys by LSEG; other sales estimates cited by CNBC were from StreetAccount.

WHAT:

Yahoo Finance - Starbucks’ fiscal 2026 full-year revenue rose 2% to $37.9 billion, below the Street’s $38 billion estimate. Adjusted earnings increased 28% year over year to $2.72 per share, above the $2.62 estimate.

Yahoo Finance - Global same-store sales grew 6.2% for fiscal 2026, exceeding the 6% estimate.

Yahoo Finance - Customers’ average ticket in U.S. stores increased roughly 5%, while transactions rose roughly 2%.

Yahoo Finance - Niccol said Starbucks sees “significant long-term white space in North America … to build around 5,000 additional coffee houses over time.”

Yahoo Finance - Starbucks’ international transactions declined roughly 3%, offsetting a 4% increase in average ticket.

Bloomberg Markets - R.J. Hottovy said Starbucks’ foot traffic was outpacing competitors and customers were confident they could get a drink quickly.

ABC News - Starbucks’ net revenue fell 4% to $9.14 billion, below the $9.2 billion analysts surveyed by FactSet had forecast.

ABC News - Global same-store sales increased 7.2%, exceeding the 6% expected by analysts surveyed by FactSet.

ABC News - U.S. same-store sales rose 7.7%; international same-store sales rose less than 1%, while international store traffic declined 2.8%.

CNBC - For the quarter ended Sept. 27, adjusted earnings per share were 80 cents versus 72 cents expected; revenue was $9.14 billion versus $9.23 billion expected.

CNBC - Fiscal fourth-quarter net income attributable to Starbucks was $677.2 million, or 59 cents per share, compared with $133.1 million, or 12 cents per share, a year earlier. Adjusted earnings excluded restructuring and impairment costs and other items.

CNBC - Global comparable sales rose 7.2%, with transactions up 1.8%; U.S. comparable sales rose 7.7%, above StreetAccount’s 6.5% estimate. International comparable sales rose 0.9%, below StreetAccount’s 3.2% estimate.

CNBC - Starbucks projected fiscal 2027 adjusted earnings per share of $3.15–$3.25, versus analysts’ $3.14 expectation, and a 1% revenue decline, versus analysts’ forecast of 1.4% net-sales growth. It projected 4% North American same-store sales growth.

CNBC - Starbucks opened 303 net new cafes during the quarter and said its fall-menu rollout had its strongest-ever autumn launch day; matcha had become a $1 billion drink.

CNBC - Shares fell nearly 2% in extended trading.

WHERE:

ABC News - Starbucks’ U.S. stores drove much of the same-store sales growth.

CNBC - Starbucks reported results for its U.S., North American, and international businesses; its China business transitioned to a joint venture.

WHEN:

ABC News - The fiscal fourth quarter covered July–September.

CNBC - The quarter ended Sept. 27; the company discussed its fiscal 2027 outlook and fiscal 2028 targets.

WHY:

Yahoo Finance - Cathy Smith said any pricing would remain “focused and well below CPI”; the article reported annual consumer inflation at 3.7%.

ABC News - Starbucks attributed softer international results to weaker traffic.

CNBC - Starbucks said the 4% revenue decline reflected its China joint-venture deal; slowing North American cafe openings and slight coffee-price deflation were also expected to weigh on full-year revenue.

HOW:

CNBC - Under Niccol’s “Back to Starbucks” strategy, the company focused on service, more welcoming cafes, and marketing. Niccol said menu innovation, marketing, and merchandise were driving customer visits.

CNBC - Starbucks completed more than 1,700 cafe uplifts across the U.S. and Canada, with changes such as increased seating and softer lighting. The company said made-over locations saw higher subsequent transactions.

CNBC - Starbucks shifted most international operations to a licensed model after its China business became a joint venture, and was exploring selling a majority stake in its Japan business.

(UPDATED October 30, 2026 12:25 UTC)

Starbucks global sales rose 7.2%, driven by stronger U.S. customer traffic. Quarterly adjusted earnings beat expectations, but revenue fell short. Starbucks expects higher earnings next year, despite forecasting lower revenue.

(UPDATED October 30, 2026 04:01 UTC)

Starbucks’ global same-store sales rose 7.2% in its fiscal fourth quarter, with U.S. sales up 7.7%, while adjusted earnings reached 80 cents a share, above expectations; revenue fell 4% to $9.14 billion, partly reflecting a deal that shifted its China business into a joint venture. For the full fiscal year, revenue increased 2% to $37.9 billion and adjusted earnings rose 28% to $2.72 a share, while global same-store sales grew 6.2%; CEO Brian Niccol said service, cafe upgrades and marketing were helping attract customers. Starbucks forecast fiscal 2027 adjusted earnings of $3.15 to $3.25 a share and 4% North American same-store sales growth, but projected revenue to decline 1%, and its shares fell nearly 2% in extended trading.

(UPDATED October 29, 2026 23:08 UTC)

Starbucks reported global comparable sales growth of 7.2% in its fiscal fourth quarter, with U.S. sales up 7.7%, but revenue fell 4% to $9.14 billion, partly reflecting its China joint-venture deal. Adjusted earnings were 80 cents a share, above expectations, while international sales rose less than 1% as store traffic declined 2.8%; CEO Brian Niccol said the company was entering fiscal 2027 with momentum. Starbucks forecast fiscal 2027 adjusted earnings of $3.15 to $3.25 a share and North American comparable-sales growth of 4%, while projecting a 1% revenue decline, and its shares fell nearly 2% in extended trading.

(UPDATED October 29, 2026 22:07 UTC)

Starbucks’ global same-store sales rose 7.2%, beating expectations, while U.S. sales climbed 7.7%; international sales increased just 0.9% as store traffic fell. Revenue dropped 4% to $9.14 billion, partly reflecting the China joint-venture deal, but adjusted earnings of 80 cents a share topped forecasts, and net income rose to $677.2 million from $133.1 million a year earlier. Starbucks forecast fiscal 2027 adjusted earnings of $3.15 to $3.25 a share and 4% North American same-store sales growth, but projected revenue to decline 1%, and its shares fell nearly 2% in extended trading.