Starbucks Q1 2022 Earnings Report
Key Takeaways
Starbucks reported a 19% increase in consolidated net revenues to $8.1 billion for Q1 2022. Global comparable store sales rose by 13%, with a significant 18% increase in the U.S. GAAP EPS grew by 30% to $0.69, while non-GAAP EPS increased by 18% to $0.72.
Global comparable store sales increased 13%, driven by a 10% increase in comparable transactions and a 3% increase in average ticket.
North America and U.S. comparable store sales increased 18%, primarily driven by a 12% increase in comparable transactions and a 6% increase in average ticket.
International comparable store sales decreased 3%, driven by a 5% decline in average ticket, partially offset by a 2% increase in comparable transactions; China comparable store sales decreased 14%, driven by a 9% decline in average ticket and a 6% decline in transactions.
The company opened 484 net new stores in the first quarter of fiscal 2022, ending the period with a record 34,317 stores globally.
Starbucks
Starbucks
Starbucks Revenue by Segment
Starbucks Revenue by Geographic Location
Forward Guidance
The company will discuss fiscal year 2022 financial targets during its Q1 FY22 earnings conference call.
Revenue & Expenses
Visualization of income flow from segment revenue to net income