STARBUCKS CORP — Form 8-K
Filed July 29, 2026 · analyzed by the 8-K Agent
8-K
▲ Likely positive
significance 48/100
What the filing says
Starbucks reported Q3 FY26 (13 weeks ended June 28, 2026) global comparable store sales up 7.9%, driven by 4.2% transaction growth and 3.5% ticket growth. Consolidated net revenues declined 1% to $9.3B due to the April 2026 divestiture of China retail operations to Boyu Capital joint venture (Starbucks retains 40% ownership); excluding this, underlying performance was strong. Non-GAAP EPS of $0.85 grew 70% YoY. The company raised FY2026 guidance: U.S. comps >6.0%, global comps near 6.0%, non-GAAP operating margin >11.0%, non-GAAP EPS $2.55–$2.65, and 600–650 net new stores.
Why this rating
Strong underlying comp growth and margin expansion offset China divestiture. Guidance raise is encouraging but China transition is material structural change. Moderate impact relative to $111B market cap.
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