Starbucks(SBUX) - 2024 Q4 - Annual Results

Global Comparable Store Sales and Revenues - Global comparable store sales declined 7% in Q4 FY2024, with consolidated net revenues down 3% to $9.1 billion[2] - Full fiscal year 2024 global comparable store sales declined 2%, with consolidated net revenues up 1% to $36.2 billion[4] U.S. Comparable Store Sales - U.S. comparable store sales declined 6% in Q4 FY2024, driven by a 10% decline in transactions, partially offset by a 4% increase in average ticket[3] China Comparable Store Sales - China comparable store sales declined 14% in Q4 FY2024, with an 8% decline in average ticket and a 6% decline in transactions[3] Earnings Per Share (GAAP and Non-GAAP) - GAAP earnings per share for Q4 FY2024 was $0.80, down 25% year-over-year[2] - Non-GAAP earnings per share for Q4 FY2024 was $0.80, declining 24% on a constant currency basis[2] - Full fiscal year 2024 GAAP earnings per share was $3.31, down 8% year-over-year[4] - Full fiscal year 2024 non-GAAP earnings per share was $3.31, declining 6% on a constant currency basis[4] - Diluted net earnings per share (GAAP) for Q3 2024 decreased by 24.5% to $0.80 compared to $1.06 in Q3 2023[16] - Non-GAAP EPS for Q3 2024 also decreased by 24.5% to $0.80, with a constant currency impact of 0.9%, resulting in a 23.6% decline in constant currency[16] - Full-year diluted net earnings per share (GAAP) for 2024 decreased by 7.5% to $3.31 compared to $3.58 in 2023[16] - Full-year Non-GAAP EPS for 2024 decreased by 6.5% to $3.31, with a constant currency impact of 0.9%, resulting in a 5.6% decline in constant currency[16] Fiscal 2023 Adjustments and Costs - Fiscal 2023 included restructuring and impairment costs of $0.02 per share[16] - Fiscal 2023 included a gain from the sale of assets of $0.08 per share[16] - Fiscal 2023 included transaction and integration-related costs of $0.00 per share[16] - Fiscal 2023 included an income tax effect on Non-GAAP adjustments of $0.02 per share[16] Guidance and Dividend - The company suspended guidance for FY2025 due to CEO transition and business assessment[4] - Quarterly cash dividend increased from $0.57 to $0.61 per share, reflecting confidence in long-term growth[5]