SEATTLE–(BUSINESS WIRE)–Starbucks Corporation (NASDAQ:SBUX) today reported financial results for its 13-week fiscal third quarter and 39-week fiscal year to date ended July 2, 2017. Fiscal 2017 and fiscal 2016 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.
Q3 Fiscal 2017 Highlights
- 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
- Non-GAAP operating income up 13% over non-GAAP operating income in Q3 FY16, to $1.2 billion
- Non-GAAP operating margin expands 100 bps over Q3 FY16, to 20.8%
- Non-GAAP EPS up 12% over Q3 FY16, to $0.55 per share
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