AI English summary of an SEC filing — figures as filed
Starbucks SBUXStarbucks said consolidated net revenues for fiscal 2024 Q3 decreased 1% to $9.1 billion ($9.2 billion in the prior-year period). The company cited a 3% decline in global comparable store sales and unfavorable foreign currency fluctuations as the main drivers.
Key points
AI summaryStarbucks said consolidated net revenues for fiscal 2024 Q3 decreased 1% to $9.1 billion ($9.2 billion in the prior-year period). The company cited a 3% decline in global comparable store sales and unfavorable foreign currency fluctuations as the main drivers.
The company said consolidated operating margin for Q3 decreased 60 basis points from the prior year to 16.7%. It cited increased promotional activity, higher investments in store partner wages and benefits, and deleverage as factors, partially offset by strategic pricing and in-store operational efficiencies.
Starbucks said Channel Development operating income for Q3 increased 13% to $235 million ($208 million in the prior-year period), and its operating margin rose 740 basis points to 53.7%.
Starbucks said net cash provided by operating activities for the first 3 quarters of fiscal 2024 was $4.6 billion ($4.1 billion in the same period a year earlier). It also said it repurchased 12.8 million shares on the open market for $1,250.1 million over the same period.
Key figures
Quarter ended June 30, 2024
- Revenue
- $9.1B
- Operating income
- $1.5B
- Net income
- $1.1B
- EPS
- $0.93
From the XBRL financial data filed with the SEC · not processed by AI.
Summary
AI-writtenAnalysis scope · Management's discussion (MD&A)We analyzed excerpts of the Management's Discussion and Analysis (MD&A) section (with omissions). Other sections of the report, such as the notes to the financial statements and risk factors, were not reviewed.
Starbucks Fiscal 2024 Q3 Consolidated Net Revenues $9.1 billion
Starbucks said consolidated net revenues for fiscal 2024 Q3 decreased 1% to $9.1 billion ($9.2 billion in the prior-year period). The company cited a 3% decline in global comparable store sales and unfavorable foreign currency fluctuations as the main drivers.
Source · Based on the MD&A text of the filing
Starbucks Consolidated Operating Margin for Q3 16.7%
The company said consolidated operating margin for Q3 decreased 60 basis points from the prior year to 16.7%. It cited increased promotional activity, higher investments in store partner wages and benefits, and deleverage as factors, partially offset by strategic pricing and in-store operational efficiencies.
Source · Based on the MD&A text of the filing
Channel Development Operating Income for Q3 $235 million
Starbucks said Channel Development operating income for Q3 increased 13% to $235 million ($208 million in the prior-year period), and its operating margin rose 740 basis points to 53.7%.
Source · Based on the MD&A text of the filing
3-quarter cumulative cash flow and share repurchases
Starbucks said net cash provided by operating activities for the first 3 quarters of fiscal 2024 was $4.6 billion ($4.1 billion in the same period a year earlier). It also said it repurchased 12.8 million shares on the open market for $1,250.1 million over the same period.
Source · Based on the MD&A text of the filing
AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.
Original filing
The filing as submitted to SEC EDGAR. You can check the figures and statements of this summary against it.
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