The following selected financial data is derived from the consolidated financial statements. 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)
Sept 29, 2019 (52 Wks)
Sept 30, 2018 (52 Wks)
Oct 1, 2017 (52 Wks)
Oct 2, 2016 (53 Wks)
Sep 27, 2015 (52 Wks)
Results of Operations
Net revenues:
Company-operated stores
$
21,544.4
$
19,690.3
$
17,650.7
$
16,844.1
$
15,197.3
Licensed stores
2,875.0
2,652.2
2,355.0
2,154.2
1,861.9
Other
2,089.2
2,377.0
2,381.1
2,317.6
2,103.5
Total net revenues
$
26,508.6
$
24,719.5
$
22,386.8
$
21,315.9
$
19,162.7
Operating income/(loss)
$
4,077.9
$
3,883.3
$
4,134.7
$
4,171.9
$
3,601.0
Net earnings including noncontrolling interests (2)
3,594.6
4,518.0
2,884.9
2,818.9
2,759.3
Net earnings/(loss) attributable to noncontrolling interests
(4.6
)
(0.3
)
0.2
1.2
1.9
Net earnings attributable to Starbucks (2)
3,599.2
4,518.3
2,884.7
2,817.7
2,757.4
EPS — diluted (2)
2.92
3.24
1.97
1.90
1.82
Cash dividends declared per share
1.49
1.32
1.05
0.85
0.68
Net cash provided by operating activities (3)
5,047.0
11,937.8
4,251.8
4,697.9
3,881.5
Capital expenditures (additions to property, plant and equipment)
1,806.6
1,976.4
1,519.4
1,440.3
1,303.7
Balance Sheet
Total assets
$
19,219.6
$
24,156.4
$
14,365.6
$
14,312.5
$
12,404.1
Long-term debt (including current portion)
11,167.0
9,440.1
3,932.6
3,585.2
2,335.3
Shareholders’ equity/(deficit)
(6,232.2
)
1,169.5
5,450.1
5,884.0
5,818.0
(1)
Our fiscal year ends on the Sunday closest to September 30. The fiscal year ending on October 2, 2016 included 53 weeks, with the 53rd week falling in our fourth fiscal quarter.
(2)
Fiscal 2018 results include a gain not subject to income tax of $1.4 billion resulting from the acquisition of our East China joint venture. The impact of the gain to our diluted EPS was $0.99.
(3)
Net cash provided by operating activities for fiscal 2015 through fiscal 2017 has been adjusted for the adoption of new accounting guidance related to excess tax benefits as discussed in Note 1, Summary of Significant Accounting Policies.
Comparable Store Sales:
Fiscal Year Ended
Sep 29, 2019
Sep 30, 2018
Oct 1, 2017
Oct 2, 2016
Sep 27, 2015
Percentage change in comparable store sales (1)
Americas
Sales growth
5
%
2
%
3
%
6
%
7
%
Change in transactions
2
%
(1
)%
—
%
1
%
3
%
Change in ticket
3
%
3
%
4
%
5
%
4
%
International (2)
Sales growth
3
%
1
%
2
%
2
%
6
%
Change in transactions
1
%
(1
)%
1
%
1
%
5
%
Change in ticket
2
%
2
%
1
%
1
%
1
%
Consolidated
Sales growth
5
%
2
%
3
%
5
%
7
%
Change in transactions
1
%
(1
)%
—
%
1
%
3
%
Change in ticket
3
%
3
%
3
%
4
%
4
%
(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 and the results of our global Siren Retail operations. For fiscal year 2016, comparable store sales percentages were calculated excluding the 53rd week.
(2)
Beginning in February of fiscal 2019, comparable store sales include the results of the transfer of 1,477 licensed stores in East China to company-operated retail stores as a result of the purchase of our East China joint venture in the first quarter of fiscal 2018. Beginning in December of fiscal 2016, comparable store sales include the results of the 1,009 company-operated stores acquired as part of the acquisition of Starbucks Japan in the first quarter of fiscal 2015.
Store Count Data:
As of and for the Fiscal Year Ended
Sept 29, 2019 (52 Wks)
Sept 30, 2018 (52 Wks)
Oct 1, 2017 (52 Wks)
Oct 2, 2016 (53 Wks)
Sep 27, 2015 (52 Wks)
Net stores opened/(closed) and transferred during the year:
Americas (1)
Company-operated stores
284
275
395
348
277
Licensed stores
323
624
558
456
336
International (2)
Company-operated stores
209
2,079
238
145
1,240
Licensed stores
1,128
(680
)
1,130
1,116
(180
)
Corporate and Other (3)
Company-operated stores
—
(288
)
(69
)
(17
)
5
Licensed stores
(12
)
(25
)
2
(6
)
(1
)
Total
1,932
1,985
2,254
2,042
1,677
Stores open at year end:
Americas (1)
Company-operated stores
9,974
9,690
9,415
9,020
8,672
Licensed stores
8,093
7,770
7,146
6,588
6,132
International (2)
Company-operated stores
5,860
5,651
3,572
3,334
3,189
Licensed stores
7,329
6,201
6,881
5,751
4,635
Corporate and Other (3)
Company-operated stores
—
—
288
357
374
Licensed stores
—
12
37
35
41
Total
31,256
29,324
27,339
25,085
23,043
(1)
Americas store data includes the transfer of 112 company-operated retail stores in Brazil to licensed stores as a result of the sale of our Brazil retail operations in the second quarter of fiscal 2018 and the closure of 132 Target Canada licensed stores in the second quarter of fiscal 2015.
(2)
International store data includes in fiscal 2019 the transfer of 82 company-operated stores in France and the Netherlands to licensed stores as a result of the sales of operations in the second quarter and the transfer of 377 company-operated stores in Thailand to licensed stores as a result of the sale of operations late in the third quarter. Additionally, store data includes the transfer of 1,477 licensed stores in East China to company-operated retail stores as a result of the purchase of our East China joint venture in the first quarter of fiscal 2018, the transfer of 133 Singapore stores from company-operated stores to licensed stores in fiscal 2017, the transfer of 144 Germany company-operated stores to licensed stores in fiscal 2016, and the transfer of 1,009 Japan stores from licensed stores to company-operated as a result of the acquisition of Starbucks Japan in fiscal 2015.
(3)
Corporate and Other store data includes the closure of 313 Teavana retail stores in fiscal 2018 and 12 Teavana retail stores in the first quarter of fiscal 2019.
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