Group 1 - Starbucks reported strong growth in the Chinese market for Q1 of fiscal year 2026, with double-digit revenue growth and same-store sales increasing for three consecutive quarters [1] - The company opened 8011 stores in 1103 county-level cities, marking a 4% year-on-year increase, with over half of the new stores located in lower-tier cities or special business districts [1] - The introduction of the sugar-free and customizable options for the winter signature drink, Toffee Nut series, was well-received, with 1.7 million customers trying the sugar-free version, contributing to 50% of the sales for this popular drink [1] Group 2 - Starbucks has partnered with Atour Group to enhance member benefits following collaborations with Hilton Group and China Eastern Airlines [2] - Starting December 17, 2025, Starbucks will designate the 17th of each month as "Starbucks Together Day," featuring interactive mechanisms to enhance member experiences across various services [2]

Core Viewpoint - Starbucks has reported a strong performance in the Chinese market, achieving a revenue growth of 11% year-on-year, reaching $823.4 million for the first quarter of fiscal year 2026, indicating a solid double-digit growth trend [1] Revenue Performance - The revenue in China has shown continuous growth for five consecutive quarters, with the latest quarter achieving a revenue of $823.4 million, reflecting an 11% year-on-year increase [1] - Same-store sales have also demonstrated positive growth for three consecutive quarters, with a high single-digit growth of 7% in the latest quarter [1] Same-Store Sales Analysis - The growth in same-store sales is attributed to the strong performance of business district stores, breakfast hours, and robust results in lower-tier cities [1] - The increase in transaction volume was 5%, while the average transaction value rose by 2%, driven by strong market performance in product and food categories [1] Profitability - Starbucks China has seen a quarter-on-quarter improvement in store operating profit margins, supported by strong same-store growth and ongoing efforts to enhance operational efficiency [1] - The store operating profit margin remains at a healthy double-digit level, indicating robust profitability [1]

与此同时，星巴克中国门店经营利润率在这一财季环比持续提升，主要得益于强劲的同店增长和提升营 运效率的不断努力，并继续保持两位数的门店经营利润率。 伴随着业绩的稳步攀升，星巴克的门店网络也在持续扩张。第一财季，星巴克累计新进入13个县级城 市，截至第一财季末，星巴克在全国1103个县级市开出了8011家门店，同比增长4%。新开门店销售表 现持续高于均值，超半数新开门店位于低线城市或特殊商圈。 广东省食品安全保障促进会副会长朱丹蓬对《证券日报》记者表示，当前中国现制咖啡的竞争正从一线 城市快速延伸至二三线及县域市场，节奏不断加快、渠道日益细化、打法也更贴近本土。在此背景下， 星巴克通过跨界联名、融入新生代、拓展新客群、结合文化元素等一系列举措，实现了创新升级与迭代 的高速度与高质量。加之其向低线市场的有效下沉，共同构成了驱动业绩增长的关键动力。 除了渠道与产品的双向发力，星巴克始终将其"第三空间"体验置于中国市场战略的核心。无论是与《哈 利.波特》联名创造"魔法"惊喜，或是在门店跨年倒数迎新，星巴克在"第三空间"里正在不断探索和创 造与顾客联结的全新可能。 1月28日晚间，星巴克发布2026财年第一财季(2025 ...

Core Viewpoint - Starbucks reported strong growth in its first quarter of fiscal year 2026, with double-digit revenue growth in the Chinese market and positive same-store sales for three consecutive quarters [1][3]. Financial Performance - In the first quarter, Starbucks China achieved a revenue of $823.4 million, marking an 11% year-over-year increase, and continued a five-quarter streak of revenue growth [3]. - Same-store sales increased by 7%, driven by a 5% rise in transaction volume and a 2% increase in average ticket size [3]. Growth Drivers - The growth in same-store transaction volume was supported by strong performance in business district stores, breakfast consumption, and robust demand in lower-tier cities [5]. - The increase in average ticket size was attributed to the strong market performance of product and food categories [5]. Store Expansion - Starbucks China continued its high-quality expansion strategy, entering 13 new county-level cities in the first quarter, bringing the total number of stores to 8,011 across 1,103 county-level cities, a 4% year-over-year increase [5][6]. - New stores consistently outperformed industry averages, with over half located in lower-tier cities or special business districts, enhancing brand penetration and market coverage [6]. Product Innovation - The introduction of the "True Taste No Sugar" product line, including the winter signature Toffee Hazelnut series, has resonated well with health-conscious consumers, attracting 1.7 million customers and setting a record for new product trials [6]. - Other new offerings, such as the Cheese Latte series and Vanilla Mocha Layer Cake, also received positive market feedback [6]. Brand Experience - Starbucks explored diverse possibilities for creating a "third space," highlighted by a collaboration with the "Harry Potter" franchise, transforming 38 themed stores into "Hogwarts Starbucks" and selling 194,000 magic wands within a week [6]. - A New Year's Eve countdown party attracted 13,000 customers, setting a record for sales on that night and strengthening emotional connections with consumers [6]. Membership and Customer Engagement - The company enhanced user engagement through partnerships with Hilton Group and China Eastern Airlines, expanding membership benefits to hotel stays [8]. - The launch of "Star Day" on the 17th of each month aims to engage members through various interactive mechanisms, with over 45,000 members participating on the first event [8]. Employee Investment - Continuous investment in partners is crucial for Starbucks' stable development, with the company receiving multiple employer brand awards, reflecting the efforts of over 70,000 partners nationwide [8]. Leadership Statement - The CEO emphasized the commitment to exceeding customer and partner expectations as a driving force for growth, highlighting the dual high growth in revenue and same-store sales for the first quarter of fiscal year 2026 [10][11].

市场有风险，投资需谨慎。本文为AI基于第三方数据生成，仅供参考，不构成个人投资建议。 1月28日晚间，星巴克发布2026财年第一季度业绩报告，中国市场营收连续五个季度实现增长，本财季 同比增长11%至8.234亿美元。 该季度星巴克中国同店销售额实现7%的增长，其中交易量同比提升5%，客单价同比上涨2%。星巴克方 面表示，同店交易量增长主要得益于商务区门店、早餐时段以及低线城市的良好表现；客单价提升则源 于商品及食品品类的出色的市场反馈。同时，门店经营利润率季度环比持续提升，保持两位数的健康水 平，主要得益于强劲的同店增长以及营运效率优化。 门店拓展方面，该季度星巴克新进入13个县级城市。截至季度末，星巴克在全国1103个县级市布局了 8011家门店，门店总数同比增长4%。超半数新开门店位于低线城市或特殊商圈，且新开门店销售表现 持续高于均值。 针对中国业务调整，星巴克在财报中披露，2025年11月已与博裕资本达成合作协议，双方将成立合资企 业运营中国零售业务，博裕资本将收购至多60%的权益，星巴克保留40%股权并继续拥有及授权品牌与 知识产权。星巴克方面透露，交易预计2026年初完成，完成后折旧和摊销以及门 ...

1月28日晚间，星巴克发布2026财年第一季度业绩报告。星巴克2026财年第一季度净营收99亿美元，同 比增长6%；净利润2.93亿美元，低于去年同期的7.81亿美元。第一季度全球同店销售额增长4%，其中 北美和美国市场同店销售额增长4%。 对于本次财报的增收不增利，星巴克预计，某些宏观经济压力将在本财年下半年缓解，包括关税和咖啡 豆上涨对产品和分销成本的影响。 财报显示，本财季中国市场的营收增长11%，达到8.234亿美元。本财季中国市场的同店销售额实现7% 的增长（交易量增长5%，客单价增长2%）。 星巴克中国表示，同店交易量的增长获益于门店组合中占比最高的商务区门店、营业时段中的早餐时 段、和城市分布中低线城市的较好表现，客单价的增长主要得益于商品及食品品类的较好表现。 星巴克在本财季宣布了中国业务的重大调整。2025年11月，星巴克与博裕资本达成协议，将成立合资企 业运营中国零售业务，博裕资本将收购至多60%的权益，星巴克保留40%股权并继续拥有和授权品牌及 知识产权。 本次财报中星巴克透露，预计通过与博裕资本的交易完成后，折旧和摊销以及门店运营费用将减少，交 易将在2026年初完成。 即使中国资方入 ...

同时，门店经营利润率季度环比持续提升，主要得益于强劲的同店增长和提升营运效率的不断努力。门 店拓展上，第一季度新进入13个县级城市，截至季度末，星巴克在全国1103个县级市开出了8011家门 店，同比增长4%。新开门店销售表现持续高于均值，超半数新开门店位于低线城市或特殊商圈。 北京商报讯（记者 郭缤璐）1月28日晚间，星巴克发布2026财年第一季度业绩报告，中国市场延续强劲 增长势头，营收实现11%的双位数增长，达到8.234亿美元。同店销售额增长7%，星巴克中国方面表 示，同店交易量的增长获益于门店组合中占比最高的商务区门店、营业时段中的早餐时段、和城市分布 中低线城市的强劲表现；而客单价的增长主要得益于商品及食品品类的突出表现。 ...

炒股就看金麒麟分析师研报，权威，专业，及时，全面，助您挖掘潜力主题机会！ 1月29日，日前，星巴克发布2026财年第一季度业绩报告，中国市场延续强劲增长势头，营收8.234亿美 元，同比11%双位数增长且五连升；同店销售7%增长实现三连增。 星巴克方面表示，同店交易量的增长获益于门店组合中占比最高的商务区门店、营业时段中的早餐时 段、和城市分布中低线城市的强劲表现；客单价的增长主要得益于商品及食品品类的突出表现。 产品方面，冬季标志性饮品太妃榛果系列，首次推出无糖与甜度可选的客制化选项，170万顾客尝鲜了 无糖配方的太妃榛果系列，创下了新品试饮记录。无糖版、少甜及少少甜版，贡献了这款人气饮品50% 的售出杯数。此外，同期上市的芝士醇拿铁饮品系列及香草摩卡千层蛋糕也收获超预期的市场反馈。 新浪声明：新浪网登载此文出于传递更多信息之目的，并不意味着赞同其观点或证实其描述。文章内容 仅供参考，不构成投资建议。投资者据此操作，风险自担。 在门店拓展方面，星巴克第一季度新进入13个县级城市，截至季度末，星巴克在全国1103个县级市开出 了8011家门店，同比增长4%。新开门店销售表现持续高于均值，超半数新开门店位于低线 ...

经营着超8000家门店的星巴克中国增长在加速。 今天晚间，星巴克公司公布了2026财年第一季度（截至2025年12月28日的13周）业绩。小食代留意到，中国市场的净收入为8.234亿美元（折合人民币约 57亿元），同比增长11%；同店销售额增长7%。 "在我们的国际业务中，同店销售额健康增长了5%，这主要得益于公司自营市场即中国、日本和英国的强劲表现。"倪睿安在会上说道。 小食代还留意到，在刚刚结束的业绩会上，星巴克董事长兼首席执行官首席执行官倪睿安（Brian Niccol）表示，中国市场表现"尤为突出"，并最新提到 了与博裕的合作。值得注意的是，这也是星巴克宣布将中国业务60%股权出售给博裕投资后，首次交出的"成绩单"。 由于发布了总体还算不错的季度业绩，叠加"久违地"给出了 2026财年的业绩指引，星巴克今天在美国开盘后股价上涨7.6%。 下面，小食代就带大家第一时间来关注下。 同店增长加速 先来看下中国业绩。 小食代翻阅的财报显示，截至2025年12月28日的2026财年第一季度，星巴克中国的净收入为8.234亿美元（折合人民币约57亿元），同比增长11%；同店 销售额增长7%，主要得益于同店交易量增 ...

Core Viewpoint - Starbucks reported a strong performance in Q1 of FY2026, with net revenue of $9.9 billion, a 6% year-over-year increase, surpassing the forecast of $9.65 billion [1] Financial Performance - Adjusted earnings per share were $0.56, a 19% decline year-over-year, below the expected $0.59 [1] - Adjusted operating margin was 10.1% [1] Same-Store Sales Growth - Global same-store sales increased by 4%, marking the second consecutive quarter of positive growth, exceeding Wall Street's most optimistic expectations [1] - North America was the standout market, with same-store sales growth of 4%, including a 3% increase in comparable transactions, the first positive growth in eight quarters [1] - The U.S. market saw its first positive customer traffic in eight quarters, indicating the effectiveness of CEO Brian Niccol's "Back to Starbucks" transformation strategy [1] Performance in China - China exhibited remarkable performance with same-store sales growth of 7%, driven by a 5% increase in transaction volume and a 2% rise in average ticket size [1] - This growth rate significantly outpaced the global average, demonstrating Starbucks' competitive recovery in this key market [1] - The number of stores in China reached 8,011, a 4% increase year-over-year, accounting for nearly 20% of the total global store count [1]