Starbucks Q3 FY23:
• Comparable store sale +10% Y/Y.
• Store count +6% Y/Y to 37,200.
• US Active Rewards +15% Y/Y to 31.4M.
• Revenue +12% Y/Y to $9.2B ($80M miss).
• Non-GAAP EPS $1.00 ($0.05 beat).
Starbucks US Active Rewards Members.
Starbucks Earnings Q3 FY23
Revenue miss
Earnings beat
Starbucks beats EPS , misses revenues.
CFO: "...we delivered earnings growth of 19% well above our revenue growth of 12%. The momentum we have built and strength we are seeing globally, gives us the confidence and optimism to close our fiscal year strong"
The company opened 588 net new stores in Q3, crossing the 37,000 store count threshold globally, with 51% company-operated and 49% licensed stores.
The U.S. and China comprised 61% of the company’s global portfolio, with 16,144 and 6,480 stores respectively.
The company opened its first store in Paraguay, marking its entry into the 24th market in Latin America and the Caribbean and 86th market globally, and its first store in Rome
Starbucks Rewards loyalty program 90-day active members in the U.S. increased to 31.4 million, up 15% year-over-year. The company introduced Starbucks Green Apron Blend, a new coffee blend created by Starbucks retail partners and launched Frozen Lemonade Starbucks Refreshers beverages to their permanent menu.
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