Every material Form 8-K Starbucks has filed with the SEC since January 28, 2026, read and summarized by AI: what happened, the key figures, whether it reads positive or negative for shareholders, and how big a deal it is (impact 1-5). Newest first; each brief links to its own page and to the filing on SEC.gov.
Starbucks reported fourth-quarter net revenues of $9.1 billion, down 4% due to the China retail operations transaction, while global comparable coffeehouse sales rose 7.2%. For the full fiscal year 2026, net revenues increased 2% to $37.9 billion, and the company issued fiscal year 2027 guidance expecting consolidated net revenues to decline by approximately 1%.
Global comparable coffeehouse sales increased 7.2% in Q4 and 6.2% for the full fiscal year 2026.
Q4 consolidated net revenues decreased 4% to $9.1 billion, while full-year net revenues increased 2% to $37.9 billion.
Q4 GAAP EPS was $0.59 and non-GAAP EPS was $0.80.
Fiscal year 2027 guidance projects non-GAAP EPS of $3.15 to $3.25.
On September 22, 2026, Starbucks' board approved further actions under its Back to Starbucks strategy, including closing about 1% of its more than 18,000 North America coffeehouses that do not meet the expected experience and financial performance. The company expects about $300 million in restructuring charges, with most closures finished by the end of fiscal 2026, and cut its full-year fiscal 2026 net new coffeehouse openings outlook to about 440 from 600 to 650, based on about 250 North America closures partly offset by higher International openings.
About 250 North America coffeehouses to close, about 1% of more than 18,000; majority to be completed by end of fiscal 2026.
About $300 million in restructuring charges: about $200 million cash, mainly lease exit and employee separation costs, and $100 million non-cash, mainly asset disposal and impairment.
Fiscal 2026 net new global openings now expected at about 440, versus prior guidance of 600 to 650.
Starbucks reported fiscal third-quarter 2026 results for the quarter ended June 28, 2026, with global comparable store sales up 7.9% and GAAP earnings per share of $0.91, up 86% from a year earlier. Consolidated net revenues fell 1% to $9.3 billion, mainly reflecting the China retail transaction, and the company raised its fiscal 2026 guidance, including non-GAAP earnings per share of $2.55 to $2.65.
Starbucks designated Val Bauduin, a senior vice president in corporate finance, as its principal accounting officer on June 11, 2026. CFO Cathy Smith remains principal financial officer, and no compensation changes were made in connection with the role.
Val Bauduin, 50, designated principal accounting officer on June 11, 2026, taking over from CFO Cathy Smith in that role
Bauduin continues as senior vice president, Corporate Finance and Development, reporting to Smith
No compensation changes tied to the designation; he remains in existing programs for similarly situated officers
On May 20, 2026, Starbucks completed the settlement of cash tender offers for several series of its senior notes, buying back principal in five series at total purchase prices that include accrued interest. The company elected early settlement and does not intend to buy any additional notes. The filing is a debt management action; it does not state the effect on total debt or interest costs.
Accepted for purchase: $321,824,000 of 4.800% notes due 2030 and $273,468,000 of 4.500% notes due 2028.
Also accepted: $200,000,000 of 4.500% notes due 2048, $410,249,000 of 5.400% notes due 2035 and $110,351,000 of 5.000% notes due 2034.
Settlement occurred May 20, 2026, on the Early Settlement Date defined in the Offer to Purchase dated May 4, 2026, as amended May 15, 2026.
No notes were bought in the 4.000% 2028, 4.900% 2031 and 4.800% 2033 series, whose outstanding amounts are unchanged from the April 28, 2026 Form 10-Q.
On May 13, 2026, Starbucks' board approved further actions under its "Back to Starbucks" strategy, including streamlining its domestic and international support organization and non-retail facilities and reducing the operational complexity of its Starbucks Reserve and Roastery locations. The company expects about $400 million in restructuring charges, with most plan actions completed by the end of this fiscal year and a significant portion of the charges recorded in fiscal 2026. The charge is large, though the company says the plan supports its $2 billion cost savings initiatives and long-term growth.
Board approved the restructuring actions on May 13, 2026.
About $400 million in total restructuring charges, of which about $280 million is non-cash (mainly impairment of long-lived assets, including right-of-use lease assets) and $120 million is cash (mainly employee separation benefits).
Majority of plan actions expected to be completed by the end of fiscal year 2026.
Company has previously said it is pursuing $2 billion in cost savings initiatives.
Starbucks reported fiscal second-quarter 2026 results for the quarter ended March 29, 2026, with net revenues up 9% to $9.5 billion and GAAP earnings per share up 32% to $0.45. The company raised its fiscal 2026 guidance for comparable store sales growth and non-GAAP earnings per share, which now range from $2.25 to $2.45. For shareholders, the results show growth in sales and earnings, though management said it has more work to do and North America margins narrowed.
Global comparable store sales rose 6.2%, driven by a 3.8% increase in comparable transactions and a 2.3% increase in average ticket.
GAAP EPS of $0.45 rose 32%; non-GAAP EPS of $0.50 rose 22%.
Fiscal 2026 guidance now calls for non-GAAP EPS of $2.25 to $2.45 and global and U.S. comparable store sales growth of 5.0% or greater.
North America operating margin fell to 9.9% from 11.6%, citing labor investments, tariffs and elevated coffee pricing.
Starbucks said on April 2, 2026 that it completed its joint venture with Boyu Capital, announced in November 2025. Funds managed by Boyu Capital now hold a 60% interest in Starbucks China retail operations, and Starbucks keeps a 40% interest and remains the brand owner and licensor. The filing gives no financial results or price terms, so the effect on Starbucks' reported revenue and profit is not quantified.
Transaction closed April 2, 2026, after all necessary closing conditions were satisfied
Boyu Capital-managed funds hold 60%; Starbucks retains 40% and continues to own and license the brand
The joint venture oversees about 8,000 company-operated coffeehouses, which will move to a licensed operating model
Shared long-term aspiration to grow to as many as 20,000 locations over time
Starbucks reported fiscal first-quarter 2026 results for the quarter ended December 28, 2025. Revenue rose 6% to $9.9 billion and global comparable store sales rose 4%, but GAAP earnings per share fell 62% to $0.26, as GAAP operating margin contracted to 9.0% and the effective tax rate rose to 61.7% after China retail operations were classified as held for sale. The company also introduced fiscal 2026 non-GAAP EPS guidance of $2.15 to $2.40, compared with non-GAAP EPS of $0.56 for the quarter.
Global comparable store sales rose 4%, and U.S. comparable transactions grew for the first time in eight quarters.
GAAP EPS was $0.26 versus $0.69 a year earlier; non-GAAP EPS was $0.56, down 19%.
GAAP operating margin was 9.0%, down 290 basis points; the effective tax rate was 61.7% versus 23.6%.
Fiscal 2026 non-GAAP EPS guidance is $2.15 to $2.40; the China joint venture with Boyu Capital is expected to close in the spring, subject to regulatory approvals.
Briefs are written by AI from the filing text (each brief's own page names the model) and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the model's reading of the filing for shareholders, not a price forecast. Not investment advice.
Only material 8-Ks get a brief: results, deals, executive changes, restructuring, impairments, delisting notices, restatements, cybersecurity incidents and other disclosed events. Routine filings (vote results, exhibits only) are skipped. Every Starbucks filing is on SEC EDGAR ↗. 8-K briefs of other companies →