SBUX Starbucks (SBUX) Q4 FY25 earnings call
Starbucks concluded FY25 with a strong Q4, achieving its first positive global comparable store sales growth in seven quarters, driven by the 'Back to Starbucks' strategy. The company is seeing positive momentum in U.S. comps and strong international performance, despite continued margin pressure from inflation and strategic investments. Management is focused on executing its plan, with an emphasis on customer experience, store optimization, and menu innovation, aiming for sustained top-line growth followed by earnings improvement.
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SBUX operating KPIs by quarter
| KPI | Dec 2025 Q1 FY26 | Mar 2026 Q2 FY26 | Jun 2026 Q3 FY26 | Change vs prior quarter |
|---|---|---|---|---|
| Loyalty program members US | — | 35.6MUS 90-day active Starbucks Rewards membership reached a record 35.6 million with both rewards member and nonmember transactions growing year-over-year.Source: earnings call transcript | 35.8MWe now have 35.8 million 90-day active members in the US It's only been 4 months since we launched our new program, and we're already seeing members leveling up from green to gold and gold to reserve.Source: earnings call transcript | +0.6% |
| Stores North America | 18.36KOverall, our North America portfolio increased by 49 net new coffeehouses to reach 18,360 at the end of the quarter.Source: earnings call transcript | 18.385KOverall, our North America store base grew by 25 net new coffeehouses to 18,385 at the end of the quarter.Source: earnings call transcript | 18.371KOverall, our North America store base was 18,371 coffee houses at the end of the quarter.Source: earnings call transcript | -0.1% |
| Stores International | — | 22.744KOur International store portfolio was 22,744 at the end of the second quarter, down 14 net coffeehouses from Q1.Source: earnings call transcript | 22.933KOur international portfolio ended the quarter at 22,933 coffee houses, including 189 net new openings in the quarter.Source: earnings call transcript | +0.8% |
Operating figures the company stated on at least two of the calls shown, checked against each call's transcript. Click a figure to read the sentence. A dash means it was not stated that quarter.
Inve summary of the company's earnings call; see how call summaries are prepared. Not investment advice.