Please note that Starbucks fiscal year 2021 is a 53-week year instead of the usual 52 weeks. Starbucks said it sees its store base rising to roughly 55,000 units in fiscal year 2030, largely driven by continued expansion in China. To receive notifications via email, enter your email address and select at least one subscription below. The results from Siren Retail operations are not reflected in comparable store sales. The company will provide additional information regarding its business outlook during its regularly scheduled quarterly earnings conference call today; this information will also be available following the call on the company’s website at http://investor.starbucks.com. Actual future results and trends may differ materially depending on a variety of factors, including, but not limited to: further spread of COVID-19; regulatory measures or voluntary actions that may be put in place to limit the spread of COVID-19, including restrictions on business operations or social distancing requirements and the duration and efficacy of such restrictions; the potential for a resurgence of COVID-19 infections in a given geographic region after it has hit its “peak”; fluctuations in U.S. and international economies and currencies; our ability to preserve, grow and leverage our brands; the ability of our business partners and third-party providers to fulfill their responsibilities and commitments; potential negative effects of incidents involving food or beverage-borne illnesses, tampering, adulteration, contamination or mislabeling; potential negative effects of material breaches of our information technology systems to the extent we experience a material breach; material failures of our information technology systems; costs associated with, and the successful execution of, the company’s initiatives and plans, including the integration of the East China business and the successful expansion of our Global Coffee Alliance with Nestlé; our ability to obtain financing on acceptable terms; the acceptance of the company’s products by our customers, evolving consumer preferences and tastes and the availability of consumer financing; changes in the availability and cost of labor; the impact of competition; inherent risks of operating a global business; the prices and availability of coffee, dairy and other raw materials; the effect of legal proceedings; and the effects of changes in tax laws and related guidance and regulations that may be implemented and other risks detailed in the company filings with the Securities and Exchange Commission, including the “Risk Factors” sections of Starbucks Annual Report on Form 10-K for the fiscal year ended September 29, 2019 and Starbucks Quarterly Report on Form 10-Q for the fiscal quarter ended June 28, 2020. Comparable store sales include stores that were temporarily closed as a result of the COVID-19 outbreak and exclude stores identified for permanent closure. The call will be webcast and can be accessed at http://investor.starbucks.com. Comparable store sales exclude the effects of fluctuations in foreign currency exchange rates and Siren Retail stores. Starbucks Announces Q2 Fiscal Year 2020 Results Conference Call. Full … “We’ve already guided to a significant rebound for fiscal ’21 as we lap the extreme impacts of COVID-19 that we experienced in fiscal ’20,” said Patrick J. Grismer, chief financial officer, during Starbucks’ Dec. 9 virtual investor day. These measures should not be considered in isolation or as a substitute for analysis of the company’s results as reported under GAAP. In this earnings release, we estimated the impact of COVID-19 by comparing actual results to our previous forecasts. SEATTLE – Fiscal 2021 is forecast to be a bounce-back year for Starbucks Corp. Management excludes restructuring and impairment costs relating to the write-down of certain company-operated stores and intangible assets. Represents the estimated impact of the U.S. Tax Cuts and Jobs Act, specifically the transition tax on undistributed foreign earnings, estimated incremental foreign withholding taxes on expected repatriated earnings and the re-measurement of deferred taxes. A replay of the webcast will be available on the company's website until end of day, Friday, November 27, 2020. Article - Starbucks Reports Q2 Fiscal 2020 Results - Q2 Consolidated Net Revenues of $6.0 Billion, Down 5% from Prior Year Due to Adverse Impact of COVID-19 Please note that Starbucks fiscal year 2021 is a 53-week year instead of the usual 52 weeks. Restructuring, Starbucks provides financial report for Q3 Fiscal Year 2020 results. Optimization Costs, International Management excludes the estimated transition tax on undistributed foreign earnings, the impacts of estimated incremental foreign withholding taxes on expected repatriated earnings and the re–measurement of deferred tax assets and liabilities due to the reduction of the U.S. federal corporate income tax rate for reasons discussed above. These forecasts were created before the spread of the virus and were based on information available at the time and on various assumptions that we believe were reasonable. These statements include statements relating to: the estimated financial impact related to the outbreak of coronavirus disease (COVID-19) including the outlook, guidance and projections for revenues, earnings per share, operating income, operating margins, comparable store sales, net new stores, capital expenditures, interest expense and fiscal 2021 guidance; the nature and extent of the impact of COVID-19 on our business, operations and financial results; the anticipated timing and effects of recovery of our business, including our ability to expand seating and operating hours at our stores; our plans for streamlining our operations, including store openings, closures and changes in store formats and models; our ability to continue steady business improvement and improve customer and partner experiences; and our ability to emerge from this global crisis and drive long-term growth. Gain on sale of certain retail operations. Prepaid expenses and other current assets, LIABILITIES AND SHAREHOLDERS' EQUITY/(DEFICIT), Current portion of operating lease liability, Stored value card liability and current portion of deferred revenue, Common stock ($0.001 par value) — authorized, 2,400.0 shares; issued and outstanding, 1,173.3 and 1,184.6 shares, respectively, TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY/(DEFICIT). 206-318-7100 “The guiding principles we established at the onset of the pandemic, combined with our industry-leading digital platform and our ability to innovate rapidly, continue to fuel our recovery and provide confidence in a robust operating outlook for fiscal 2021. Nestlé transaction and integration-related costs. The company currently has about 33,000 outlets worldwide. Impairment and Reggie Borges As a part of the company's commitment to 100% ethically sourced coffee, Starbucks announced the new Starbucks Digital Traceability tool. Net revenues for the Americas segment of $4.2 billion in Q4 FY20 were 9% lower relative to Q4 FY19, primarily due to a 9% decrease in comparable store sales as well as lower product sales to and royalty revenues from our licensees as a result of lost sales related to the COVID-19 outbreak. Management excludes the incremental stock-based compensation award granted in the third quarter of fiscal 2018, and vested in the third quarter of fiscal 2019, for reasons discussed above. After submitting your information, you will receive an email. 3. Starbucks sold $10.5 billion in gift cards in its 2020 fiscal year, including new activations and card reloads. Includes only Starbucks® company-operated stores open 13 months or longer. 53-weeks), Income tax effect on Non-GAAP adjustments (3). 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