The following selected financial data is derived from the consolidated financial statements. All per-share data has been retroactively adjusted to give effect to the two-for-one stock split discussed in Note 1, Summary of Significant Accounting Policies, included in Item 8 of Part II of this 10-K. The data below should be read in conjunction with "Management’s Discussion and Analysis of Financial Condition and Results of Operations," "Risk Factors," and the consolidated financial statements and notes.
Financial Information (in millions, except per share data):
As of and for the Fiscal Year Ended (1)
Oct 2, 2016 (53 Wks)
Sep 27, 2015 (52 Wks)
Sep 28, 2014 (52 Wks)
Sep 29, 2013 (52 Wks)
Sep 30, 2012 (52 Wks)
Results of Operations
Net revenues:
Company-operated stores
$
16,844.1
$
15,197.3
$
12,977.9
$
11,793.2
$
10,534.5
Licensed stores
2,154.2
1,861.9
1,588.6
1,360.5
1,210.3
CPG, foodservice and other
2,317.6
2,103.5
1,881.3
1,713.1
1,532.0
Total net revenues
$
21,315.9
$
19,162.7
$
16,447.8
$
14,866.8
$
13,276.8
Operating income/(loss)(2)
$
4,171.9
$
3,601.0
$
3,081.1
$
(325.4
)
$
1,997.4
Net earnings including noncontrolling interests(2)
2,818.9
2,759.3
2,067.7
8.8
1,384.7
Net earnings/(loss) attributable to noncontrolling interests
1.2
1.9
(0.4
)
0.5
0.9
Net earnings attributable to Starbucks(2)
2,817.7
2,757.4
2,068.1
8.3
1,383.8
EPS — diluted(2)
1.90
1.82
1.35
0.01
0.90
Cash dividends declared per share
0.850
0.680
0.550
0.445
0.360
Net cash provided by operating activities
4,575.1
3,749.1
607.8
2,908.3
1,750.3
Capital expenditures (additions to property, plant and equipment)
1,440.3
1,303.7
1,160.9
1,151.2
856.2
Balance Sheet
Total assets(3)
$
14,329.5
$
12,416.3
$
10,752.0
$
11,516.0
$
8,217.6
Long-term debt (including current portion)
3,602.2
2,347.5
2,048.3
1,299.4
549.6
Shareholders’ equity
5,884.0
5,818.0
5,272.0
4,480.2
5,109.0
(1)
Our fiscal year ends on the Sunday closest to September 30. The fiscal year ended on October 2, 2016 included 53 weeks, with the 53rd week falling in our fourth fiscal quarter.
(2)
Fiscal 2013 results include a pretax charge of $2,784.1 million resulting from the conclusion of our arbitration with Kraft Foods Global, Inc. The impact of this charge to net earnings attributable to Starbucks and diluted EPS, net of the related tax benefit, was $1,713.1 million and $1.12 per share, respectively.
(3)
Total assets for fiscal 2012 through fiscal 2015 have been adjusted for the adoption of new accounting guidance related to the reclassification of deferred income taxes as discussed in Note 1, Summary of Significant Accounting Policies.
Comparable Store Sales:
Fiscal Year Ended
Oct 2, 2016
Sep 27, 2015
Sep 28, 2014
Sep 29, 2013
Sep 30, 2012
Percentage change in comparable store sales(1)
Americas
Sales growth
6
%
7
%
6
%
7
%
8
%
Change in transactions
1
%
3
%
2
%
5
%
6
%
Change in ticket
5
%
4
%
3
%
2
%
2
%
China/Asia Pacific(2)
Sales growth
3
%
9
%
7
%
9
%
15
%
Change in transactions
1
%
8
%
6
%
7
%
11
%
Change in ticket
2
%
1
%
—
%
2
%
3
%
EMEA
Sales growth
—
%
4
%
5
%
—
%
—
%
Change in transactions
1
%
2
%
3
%
2
%
—
%
Change in ticket
—
%
1
%
2
%
(2
)%
—
%
Consolidated
Sales growth
5
%
7
%
6
%
7
%
7
%
Change in transactions
1
%
3
%
3
%
5
%
6
%
Change in ticket
4
%
4
%
3
%
2
%
1
%
(1)
Includes only Starbucks® company-operated stores open 13 months or longer. Comparable store sales exclude the effect of fluctuations in foreign currency exchange rates. For fiscal year 2016, comparable store sales percentages were calculated excluding the 53rd week.
(2)
Beginning in December of fiscal 2016, comparable store sales include the results of the 1,009 company-operated stores acquired as part of the acquistion of Starbucks Japan in the first quarter of fiscal 2015.
Store Count Data:
As of and for the Fiscal Year Ended
Oct 2, 2016 (53 Wks)
Sep 27, 2015 (52 Wks)
Sep 28, 2014 (52 Wks)
Sep 29, 2013 (52 Wks)
Sep 30, 2012 (52 Wks)
Net stores opened/(closed) and transferred during the year:
Americas(1)
Company-operated stores
348
276
317
276
228
Licensed stores
456
336
381
404
280
China/Asia Pacific (2)
Company-operated stores
359
1,320
250
239
152
Licensed stores
622
(482
)
492
349
296
EMEA(3)
Company-operated stores
(214
)
(80
)
(9
)
(29
)
10
Licensed stores
494
302
180
129
101
All Other Segments (4)
Company-operated stores
(17
)
6
12
343
—
Licensed stores
(6
)
(1
)
(24
)
(10
)
(4
)
Total
2,042
1,677
1,599
1,701
1,063
Stores open at year end:
Americas (1)
Company-operated stores
9,019
8,671
8,395
8,078
7,802
Licensed stores
6,588
6,132
5,796
5,415
5,011
China/Asia Pacific(2)
Company-operated stores
2,811
2,452
1,132
882
643
Licensed stores
3,632
3,010
3,492
3,000
2,651
EMEA(3)
Company-operated stores
523
737
817
826
855
Licensed stores
2,119
1,625
1,323
1,143
1,014
All Other Segments (4)
Company-operated stores
358
375
369
357
14
Licensed stores
35
41
42
66
76
Total
25,085
23,043
21,366
19,767
18,066
(1)
Americas store data has been adjusted for the sale of store locations in Chile to a joint venture partner in the fourth quarter of fiscal 2013 by reclassifying historical information from company-operated stores to licensed stores, and to exclude Seattle's Best Coffee and Evolution Fresh, which are reported within All Other Segments. Americas store data also includes the closure of 132 Target Canada licensed stores in the second quarter of fiscal 2015.
(2)
China/Asia Pacific store data has been adjusted for the transfer of certain company-operated stores to licensed stores in the fourth quarter of fiscal 2014. China/Asia Pacific store data also includes the transfer of 1,009 Japan stores from licensed stores to company-operated as a result of the acquisition of Starbucks Japan in the first quarter of fiscal 2015.
(3)
EMEA store data has been adjusted for the transfer of certain company-operated stores to licensed stores in the fourth quarter of fiscal 2012 and in the second and fourth quarters of fiscal 2014. EMEA store data also includes the transfer of 144 Germany company-operated retail stores to licensed stores as a result of the sale to AmRest Holdings SE in the third quarter of fiscal 2016.
(4)
All Other Segments store data includes 337 Teavana® stores acquired in the second quarter of fiscal 2013.
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