Starbucks reported a flat total net revenue of $9.39bn in the first quarter (Q1) of the fiscal year 2025 (FY25) as against $9.42bn in the corresponding quarter of the previous year.
Revenue dropped by 0.3% on a constant currency basis.
Go deeper with GlobalData
The net earnings attributable to the company in Q1 2025 – the quarter that ended on 29 December 2024 – dropped by 23.8% to $780.8m as compared to $1.02bn in Q1 2024.
The net earnings figure per common share diluted was $0.69 in Q1 2025, a reduction of 23.3% from $0.90 in the same period of the previous year.
Operating income declined 24.5% year-on-year to $1.12bn.
The company’s global comparable store sales dropped 4%, primarily due to a 6% fall in comparable transactions and partially mitigated by a 3% rise in the average customer ticket.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalDataIn North America, including the US, comparable store sales fell 4% due to an 8% reduction in comparable transactions, slightly offset by a 4% increase in average ticket.
Internationally, the company experienced a 4% decline in comparable store sales due to a 2% fall in average ticket and comparable transactions.
In China, its comparable store sales dropped 6%, driven by a 4% decrease in average ticket and a 2% reduction in comparable transactions.
Starbucks continued to expand its presence in the first quarter with the opening of 377 net new stores. Its total number of stores reached 40,576 – 53% company-operated and 47% licensed.
The US and China accounted for 61% of the total store count with 17,049 stores in the US and 7,685 in China.
Starbucks chairman and chief executive officer Brian Niccol said: “While we’re only one quarter into our turnaround, we’re moving quickly to act on the Back to Starbucks efforts and we’ve seen a positive response.
“We believe this is the fundamental change in strategy needed to solve our underlying issues, restore confidence in our brand and return the business to sustainable, long-term growth.”
In September, Brian Niccol took the reins of Starbucks as its new chairman and CEO. He introduced a turnaround strategy, Back to Starbucks, which includes re-introducing the requirement for customers to make a purchase to spend time in the cafés or use the bathrooms.
Starbucks has not provided an outlook for 2025.
