SEATTLE, USA – Starbucks Corporation yesterday (January 22, 2015) reported financial results for its 13-week fiscal first quarter ended December 28, 2014.
Q1 FY14 GAAP results include the impact of a litigation credit related to the Kraft arbitration; Q1 FY15 GAAP results include Starbucks Japan acquisition-related items. Non-GAAP results exclude these items.
Refer to the reconciliation of GAAP measures to non-GAAP measures at the end of this release.
Q1 Fiscal 2015 Highlights:
• Consolidated net revenues increased 13% to $4.8 billion
• Global comparable store sales increased 5%, with a 2% increase in traffic
– Americas comp sales increased 5%, with a 2% increase in traffic
– EMEA comp sales increased 4%, driven by a 3% increase in traffic
– CAP comp sales increased 8%, driven entirely by increased traffic
• Consolidated operating income reached a record $915.5 million
– Non-GAAP operating income of $934.8 million grew 18% over Q1 FY14 non-GAAP operating income
• Consolidated operating margin of 19.1%
– Non-GAAP operating margin of 19.5% increased 80 basis points over Q1 FY14 non-GAAP operating margin
• GAAP earnings per share of $1.30
– Non-GAAP EPS of $0.80 per share grew 16% over Q1 FY14 non-GAAP EPS
• Comparable store customer transactions increased by nearly 9 million in the U.S., nearly 12 million globally, year-over-year
• The company opened 512 net new stores in Q1, including its first Starbucks Reserve® Roastery and Tasting Room
• Dollars loaded on Starbucks Cards surged to a record $1.6 billion in the quarter, up 17% over prior year Q1
• 1 in 7 Americans received a Starbucks Gift Card in Q1, up from 1 in 8 in Q1 of fiscal 2014
• The company added 896,000 new My Starbucks Rewards members in December and now has over 9 million members
“Starbucks record Q1 fiscal 2015 financial and operating performance was exceptional by every metric and standard,” said Howard Schultz, chairman, president and ceo.
“Our reimagined in-store holiday experience that included a vastly expanded assortment of Starbucks Cards, new holiday food, beverage and merchandise offerings and the opportunity to win ‘Starbucks for Life’ resonated powerfully with our customers and drove both increased traffic and tremendous excitement in our stores and around the Starbucks brand,” Schultz added.
“Starbucks results in the first quarter of fiscal 2015 were very strong, with notable growth across the globe,” said Scott Maw, Starbucks cfo.
“All segments contributed to our record results in the quarter, with improved traffic growth in the US, record profitability in EMEA and 8% comps in CAP.
Our continued ability to drive growth through innovation, operational excellence and our unique customer connection, along with our sharp focus on financial discipline, give us confidence in reaffirming our growth targets for fiscal 2015.”
View detailed financial data here.
