---
schema_version: "secwatch.filing_event.v1"
accession: "0000829224-26-000010"
form_type: "8-K"
ticker: "SBUX"
cik: "0000829224"
company_name: "STARBUCKS CORP"
filed_at: "2026-01-28T23:59:59+00:00"
generated_at: "2026-05-16T07:15:31.404339+00:00"
event_type: "earnings"
sentiment: "neutral"
materiality_score: 0.8
calibrated_materiality_score: 0.8
confidence: "high"
source: SEC EDGAR
---

# Starbucks Q1 comp sales +4%, first US transaction growth in 8 quarters; GAAP EPS $0.26, down 62% YoY

## Summary
- Global comparable store sales +4% (U.S. +4%, China +7%); consolidated net revenues $9.9B (+6% YoY).
- GAAP EPS $0.26 (down 62%); non-GAAP EPS $0.56 (down 19%); operating margin contracted to 9.0% GAAP (10.1% non-GAAP).
- North America operating margin fell to 11.9% from 16.7% due to labor investments and inflationary pressures.
- Starbucks classified China retail operations as held for sale; joint venture with Boyu Capital to close in spring.
- Fiscal 2026 guidance: comp sales growth ≥3%, non-GAAP EPS $2.15-$2.40, 600-650 net new stores.

## SEC filing metadata
- accession: 0000829224-26-000010
- form_type: 8-K
- ticker: SBUX
- cik: 0000829224
- company_name: STARBUCKS CORP
- filed_at: 2026-01-28T23:59:59+00:00
- event_type: earnings
- sentiment: neutral
- materiality_score: 0.8
- calibrated_materiality_score: 0.8
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/829224/000082922426000010/0000829224-26-000010-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/829224/000082922426000010/sbux-20260128.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000829224-26-000010
- JSON: https://secwatch.observer/filing/0000829224-26-000010.json
- Plain text: https://secwatch.observer/filing/0000829224-26-000010.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.