Starbucks Same Store Sales Rise 7.2 Percent and Adjusted Earnings Beat at 80 Cents a Share

Starbucks beat the earnings forecast in its fiscal fourth quarter while falling short on sales, a split result built on customers spending more on each visit. The coffee chain reported adjusted earnings of 80 cents a share, ahead of analyst estimates of 72 to 73 cents. Net income was $677.2 million, or 59 cents a share on a reported basis, compared with $133.1 million, or 12 cents a share, a year earlier, Morningstar reported from Dow Jones Newswires. Zacks put the same beat at 80 cents against its consensus estimate of 73 cents, with revenue of $9.14 billion for the quarter ended in September 2026.

Total revenue fell 4 percent to about $9.1 billion, below analyst forecasts near $9.22 billion to $9.23 billion. The company tied that decline to the conversion of its China retail operations to a licensed joint venture model, which changes how sales in that market are counted. In other words, the top line fell for a structural reason in China at the same time as store level demand in the results came in stronger than expected.

Store sales did the heavy lifting

Global comparable store sales rose 7.2 percent, ahead of analyst projections near 5.4 percent to 6 percent. The rise came from two parts: average ticket climbed 5.2 percent and comparable transactions rose 1.8 percent. Put together, more customers completed comparable transactions and each transaction carried a higher spend, with the ticket increase supplying most of the growth. That mix is why the profit number could beat while total revenue missed, because sales inside comparable stores grew faster than the headline revenue line suggested.

The comparison with a year earlier also flattered net income. Reported net income of $677.2 million was about five times the $133.1 million recorded a year earlier, and reported earnings of 59 cents a share compared with 12 cents a year earlier. The adjusted figure of 80 cents, which analysts follow for the underlying quarter, sat well above the reported figure.

The guide for fiscal 2027

For fiscal 2027, Starbucks expects total revenue to decline by about 1 percent, North America comparable sales to grow by about 4 percent, and adjusted earnings of $3.15 to $3.25 a share. The guide pairs a softer total revenue line with continued growth in North America comparable sales, the same pattern as the fourth quarter: store level trading holding up while the reported total is held back by the change in how the China business is structured. Investors now have to weigh a clear earnings and comparable sales beat against a revenue miss in the quarter just reported and a decline expected in total revenue for the year ahead.