Starbucks has reported financial results for its 13-week fiscal fourth quarter and 52-week fiscal year ended 28 September 2014. Highlights include record revenues up 11%, and 1599 new stores opened globally.
Howard Schultz, chairman, president and ceo of Starbucks Coffee Company commented:
“Starbucks performance in fiscal 2014 was extraordinary by any metric or comparison, but we cannot be content with the status quo, as consumers continue to demand more and more in terms of convenience and excellence. You will see us continue to invest where it counts most, in mobile commerce, innovation, in the customer experience and the partners who drive it and in the quality of our coffees.”
“Starbucks Q4 results capped off a year of exceptional performance across our business and around the world,” said Scott Maw, Starbucks cfo. “In Q4, each of our segments delivered strong and balanced revenue and profit growth, consistent with the prior three quarters of fiscal 2014. The increasing global strength of the Starbucks brand, a robust pipeline of innovation, strong global comparable store sales growth and impressive margin expansion in conjunction with a company-wide emphasis on operational excellence and expense management give me great confidence in achieving our 2015 growth targets.”
Q4 2014 Highlights
- Consolidated net revenues increased 10% to a Q4 record $4.2 billion
- Global comparable store sales increased 5%, the 19th consecutive quarter of comp growth of 5% or greater
- Consolidated operating income reached $854.9 million
- Non-GAAP operating income of $857.3 million grew 28% over Q4 FY13 non-GAAP operating income
- Consolidated operating margin expanded to 20.4%
- Non-GAAP operating margin of 20.5% grew 280 basis points over Q4 FY13 non-GAAP operating margin
- Earnings per share reached $0.77
- Non-GAAP EPS of $0.74 grew 23% over Q4 FY13 non-GAAP EPS
- The company opened 503 net new stores in the quarter, ending FY14 with 21,366 stores in 65 countries
- The Board of Directors declared a cash dividend of $0.32 per share, an increase of 23%
Fiscal Year 2014 Highlights
- Consolidated net revenues increased 11% to a record $16.4 billion
- Global comparable store sales increased 6%
- Americas comp sales increased 6%
- EMEA comp sales increased 5%
- China/Asia Pacific comp sales increased 7%
- Consolidated operating income reached $3.1 billion
- Non-GAAP operating income of $3.1 billion grew 25% over FY13 non-GAAP operating income
- Consolidated operating margin expanded to 18.7%
- Non-GAAP operating margin of 18.6% grew 210 basis points over FY13 non-GAAP operating margin
- Earnings per share reached $2.71
- Non-GAAP EPS of $2.66 grew 21% over FY13 non-GAAP EPS
- Starbucks opened 1,599 net new stores globally in FY14, including 742 in CAP, 698 in the Americas and 171 in EMEA
- The company returned $1.6 billion to shareholders through dividends and share repurchases
