Starbucks stock enters fiscal 2027 with margins in focus

Starbucks reported its fiscal fourth-quarter and full-year results on Thursday, October 29, 2026. The company said its Back to Starbucks plan delivered a fifth consecutive quarter of positive comparable coffeehouse sales and a third consecutive quarter of margin expansion, according to Starbucks investor relations.

Comparable sales support the turnaround

Global comparable coffeehouse sales rose 7.2% in the quarter. North America increased 7.9%, while U.S. comparable sales gained 7.7%, helped by higher average tickets and more transactions. International comparable sales increased 0.9% as a 3.7% ticket increase was partly offset by a 2.8% decline in comparable transactions.

Quarterly revenue fell 4.5% to 9.14 billion US dollars. The decline primarily reflected the transfer of Starbucks retail operations in China to a licensed joint venture model. International revenue dropped 36.9% to 1.31 billion US dollars, while international operating margin widened to 19.7% from 10.8% a year earlier.

Fiscal 2027 starts with mixed signals

Non-GAAP operating margin expanded to 14.0% from 9.5% in the comparable quarter. Adjusted earnings per share rose 54% to 0.80 US dollars. The margin improvement points to stronger operating leverage, although the China transition changes the revenue base and makes year-over-year comparisons less direct.

For fiscal 2027, Starbucks expects consolidated revenue to decline approximately 1%, including approximately 700 million US dollars related to a 53rd week. Management targets North America comparable sales growth of approximately 4.0%, a non-GAAP operating margin of 13.5% to 14.0% and non-GAAP earnings per share of 3.15 to 3.25 US dollars. The company also plans approximately 1,200 net new coffeehouses worldwide.

Stock context for investors

The real-time quote of Starbucks stock showed the shares at 93.35 euros on Lang & Schwarz at 17:35 CET on Tuesday, November 3, 2026. That was 1.30 percent above the 92.15-euro quote in the relevant November 2 report, a separate comparison from the daily Xetra close.

The broader U.S. market remains the main reference point for investors through the S&P 500.

More news and analyses on Starbucks stock remain available for investors tracking the turnaround and fiscal 2027 execution.