A Dark Vector Cognition product

Starbucks (SBUX) risk factors: FY2025 10-K

Item 1A of the 10-K for the period ending 2025-09-28, filed 2025-11-14. 29 risk factor headings as filed. Read Item 1A in full · The whole 10-K · What changed since FY2024

2new since FY2024
7reworded
4removed
20unchanged

Headings mentioning a theme: Tariffs 1 · AI 0 · Cybersecurity 0 · China 0 · Interest rates 0. Compare across the S&P 500.

Risks Related to Brand Relevance and Brand Execution

2
  1. Our success depends substantially on the value of our brand, and failure to preserve its value could have a negative impact on our financial results.reworded
  2. We may not be successful in our brand, marketing, promotional, advertising, and pricing strategies.reworded

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Risks Related to Our Business

5
  1. We may not be successful in implementing important strategic initiatives (including our restructuring plan), effectively managing growth, or executing strategic transactions, any of which may have an adverse impact on our business and financial results.reworded
  2. Evolving consumer preferences and tastes, as well as adverse public or medical opinions about the health effects of consuming our products, may adversely affect our business.
  3. If our business partners and third-party providers do not satisfactorily fulfill their responsibilities and commitments, it could damage our brand, and our financial results could suffer.
  4. Reported incidents involving food- or beverage-borne illnesses, tampering, adulteration, contamination, or mislabeling, whether or not accurate, could harm our business.
  5. If we are unable to meet our projections for new store openings or efficiently maintain the attractiveness of our existing stores, our operating results could suffer.

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Risks Related to Operating a Global Business

4
  1. We are highly dependent on the financial performance of our North America operating segment.
  2. We are dependent on the performance of licensed and company-owned international markets to achieve our growth targets.new
  3. We face risks as a global business that could adversely affect our financial performance.
  4. Our reliance on key business partners may adversely affect our business and operations.

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Risks Related to Supply Chain

4
  1. Increases in the cost of high-quality arabica coffee beans or other commodities or decreases in the availability of high-quality arabica coffee beans or other commodities could have an adverse impact on our business operations and financial results.
  2. Our supply chain may be unable to fully support current and future business needs.
  3. We are subject to risks from changes to the trade policies and tariff and import/export regulations by the U.S. and other foreign governments.newTariffs
  4. Interruption of our supply chain and our reliance on suppliers could affect our ability to produce or deliver our products and could negatively impact our business and profitability.

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Risks Related to Macroeconomic Conditions

2
  1. Our financial condition and results of operations have been, and may continue to be, adversely affected by a number of macroeconomic and other factors, many of which are largely outside our control.reworded
  2. Failure to meet market expectations for our financial performance or any announced guidance will likely adversely affect the market price and increase the volatility of our stock, and fluctuations in the stock market as a whole may also impact the market price and volatility of our stock.reworded

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Risks Related to Human Capital

2
  1. The loss of key personnel, difficulties with recruiting and retaining qualified personnel, or ineffectively managing changes in our workforce could adversely impact our business and financial results.
  2. Changes in the availability and cost of labor could adversely affect our business.

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Risks Related to Competition

1
  1. We face intense competition in each of our channels and markets, which could lead to reduced profitability.

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Risks Related to Responsible Business Matters

3
  1. Climate change may have an adverse impact on our business.
  2. Our business is subject to evolving corporate governance and public disclosure regulations and expectations, including with respect to responsible business matters, that could expose us to numerous risks.reworded
  3. Certain activist shareholder actions have caused, and could continue to cause, us to incur expense, hinder execution of our business strategy, and adversely impact our stock price.

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Risks Related to Regulation and Litigation

2
  1. Failure to comply with applicable laws and changing legal and regulatory requirements could harm our business and financial results.
  2. We have been, and could continue to be, party to litigation or other legal proceedings that could adversely affect our business, results, operations, and reputation.

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Risks Related to Cybersecurity, Data Privacy, and Information Technology

3
  1. The unauthorized access, use, theft, or destruction of customer or employee data (personal, financial, or other), or of Starbucks proprietary or confidential information, that is stored in our information systems or by third parties could impact our reputation and brand and expose us to potential liability and loss of revenues.reworded
  2. Failure to maintain satisfactory compliance with certain privacy and data protection laws and regulations may result in substantial negative financial consequences, reputational harm, and civil or criminal penalties.
  3. We rely heavily on information technology in our operations and growth initiatives, and any material failure, inadequacy, interruption, or security failure of that technology could harm our ability to effectively operate and grow our business and could adversely affect our financial results.

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Risks Related to Intellectual Property

1
  1. Failure to adequately protect our intellectual property or ensure that we are not infringing on the intellectual property of others could harm the value of our brand and our business.

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No longer in Item 1A

4

Headings in the FY2024 10-K with no match this year.

  1. Summary of Risks Associated with Our Business
  2. Our investments to transform and enhance the customer experience, including through technology, may not generate the expected results.
  3. We are increasingly dependent on the success of certain international markets in order to achieve our growth targets.
  4. Economic conditions in the U.S. and international markets have adversely affected, and could continue to adversely affect, our business and financial results.

Headings are the lines of Item 1A set wholly in bold or italics, as the parser reads them, without the introductory paragraph that opens the section. A heading is new when no heading in the prior 10-K matches it after ignoring case and punctuation, and reworded when it shares at least 60 percent of its words with one that went away. Source: the filing on sec.gov.