Starbucks Q3 global comp +7.9%, NA +8.1%; raises FY EPS guidance to $2.55-$2.65

STARBUCKS CORP

Global comparable store sales +7.9% (transactions +4.2%, ticket +3.5%); North America +8.1%, U.S. +7.9%.
Consolidated net revenues $9.3B (-1% YoY) reflecting China JV conversion; GAAP EPS $0.91, non-GAAP EPS $0.85.
Non-GAAP operating margin expanded 430 bps to 14.4%; GAAP operating margin 10.5% (+60 bps).
Raises FY2026 guidance: U.S. comp >6%, global comp ~6%, non-GAAP EPS $2.55-$2.65, op margin >11%.
Board declares $0.62 dividend payable Aug 28; completed China JV with Boyu Capital, retains 40% stake.

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