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Jan 01, 2023
Starbucks Q1 2023 Earnings Report
Starbucks' Q1 2023 consolidated net revenues increased by 8% to a record $8.7 billion, with global comparable store sales up 5%. GAAP EPS was $0.74, and non-GAAP EPS was $0.75, impacted by headwinds in China.
Key Takeaways
Starbucks reported strong Q1 2023 results, with record net revenues of $8.7 billion, up 8% year-over-year. Global comparable store sales increased by 5%, driven by growth in North America. The company's performance was impacted by COVID-related headwinds in China, but overall results demonstrate the strength and resilience of the business.
Global comparable store sales increased 5%, driven by a 7% increase in average ticket, partially offset by a 2% decline in comparable transactions.
North America and U.S. comparable store sales increased 10%, driven by a 9% increase in average ticket and a 1% increase in comparable transactions.
International comparable store sales decreased 13%, driven by a 12% decline in comparable transactions and a 1% decline in average ticket; China comparable store sales decreased 29%.
The company opened 459 net new stores in Q1, ending the period with 36,170 stores globally.
Revenue by Segment
Revenue by Geographic Location
Forward Guidance
Company Reaffirms 2023 Full Year Guidance
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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