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Starbucks Corporation Reports on Q3 of FY 2019.

07/29/2019

In a press release dated July 25th Starbucks Corporation (SBUX) announced results for the Third Quarter of Fiscal 2019 ending June 30 th.

The following table summarizes the results for the period compared with the values for the corresponding quarter of the previous fiscal year (Values expressed as $ x 1,000 except EPS)

3rd Quarter Ending

June 30th 2019

July 1st 2018

Difference (%)

Sales:

$6,823,000

$6,310,300

+8.1

Gross profit Company stores

$2,729,000

$2,047,400

+33.3

Operating income:

$1,121,300

$1,038,200

+8.0

Pre-tax Income

Net Income (includes $601m from divesture)

$1,676,900

$1,372,800

$1,026,800

$852,500

+63.3

+61.0

Diluted earnings per share:

$1.12

$0.61

+83.6

Gross Margin Company stores (%)

49.2

50.5

-2.6

Operating Margin (%)

16.4

16.5

-0.6

Profit Margin (%)

20.1

13.5

+48.9

Long-term Debt: Sept 30th 2018/Oct.1 st 2017

$10,520,700

$4,683,500

+124.6

12 Months Trailing:

     

Return on Assets (%)

-

   

Return on Equity (%)

-

   

Operating Margin (%)

14.7

   

Profit Margin (%)

13.6

   

Total Assets

$24,156,400

$14,365,600

+68.2

Market Capitalization

$118,240,000

   

52-Week Range in Share Price: $51.20 to $99.72

Market Close Thursday 25th July pre-release $91.06. Friday 26 th post-release open $96.73

Forward P/E 31.4 Beta 0.5

Global same-store sales growth rose to 6.0 percent; 5.0 percent for the U.S.

U.S. rewards membership up 14 percent to 17.2 million.

In commenting on results, Kevin Johnson, president and CEO stated "Starbucks delivered strong operating performance in the third quarter, further demonstrating that our 'Growth at Scale' agenda is working," He added "our two targeted long-term growth markets, the U.S. and China, performed extremely well across a number of measures as a result of our focus on enhancing the customer experience, driving new beverage innovation and accelerating the expansion of our digital customer relationships".

Johnson concluded "Starbucks continues to be focused and disciplined in the execution of our three key strategic priorities that we established last year: accelerating growth in the U.S. and China, expanding the global reach of the Starbucks brand through our Global Coffee Alliance with Nestlé, and increasing shareholder returns. With our efforts to streamline the company and elevate the Starbucks brand, we are positioning the company to deliver predictable and sustainable operating results while building an enduring company that creates meaningful long-term value for Starbucks shareholders. Given the strong momentum across our business, we are raising our full-year financial outlook."