Huan Qiu Wang Zi Xun·2026-01-29 07:27Core 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].