MENA Newswire, SEATTLE: Starbucks said first quarter fiscal 2026 revenue rose 6% to $9.9 billion as global comparable store sales increased 4%, led by higher transactions, and the company posted U.S. comparable transaction growth for the first time in eight quarters. For the 13 weeks ended Dec. 28, 2025, global comparable transactions increased 3% and average ticket rose 1%. In North America and the U.S., comparable store sales also increased 4%, driven by a 3% increase in comparable transactions and a 1% increase in average ticket. International comparable store sales rose 5%, including 7% growth in China, where comparable transactions increased 5%.
Starbucks reported GAAP earnings per share of $0.26 and non-GAAP earnings per share of $0.56. GAAP operating margin was 9.0%, down 290 basis points from a year earlier, which the company attributed primarily to labor investments tied to its “Back to Starbucks” work and inflationary pressures that included elevated coffee pricing and tariffs.
The company said it opened 128 net new stores during the quarter, ending the period with 41,118 locations globally, split between 52% company-operated and 48% licensed. Stores in the U.S. and China made up 61% of the global portfolio, with 16,911 stores in the U.S. and 8,011 in China.
Operational and customer metrics featured prominently on the earnings call. Starbucks said 90-day active Starbucks Rewards members reached a record 35.5 million, up 3% from a year earlier, and that transactions grew for both Rewards and non-Rewards customers in the quarter.
Coffeehouse sales and margins
In segment results, Starbucks said North America revenue increased 3% to $7.3 billion, and the North America store base rose by 49 net new coffeehouses to 18,360. International revenue increased 10% to $2.1 billion. Channel Development net revenues increased 19% year over year, which the company tied to higher revenue from the Global Coffee Alliance and its ready-to-drink business.
Starbucks also detailed steps connected to its planned China transaction announced in November. The company said it classified the assets and liabilities of Starbucks China retail operations as held for sale in the quarter, which required it to stop certain depreciation and amortization, reducing related expenses. It said it expects to close the transaction in the spring of 2026, subject to regulatory approvals, and upon closing expects the China retail operations to deconsolidate.
The board declared a cash dividend of $0.62 per share, payable Feb. 27, 2026, to shareholders of record Feb. 13, 2026. Starbucks also noted that Anand Varadarajan was appointed chief technology officer effective Jan. 19, 2026.
Fiscal 2026 outlook
For fiscal 2026, Starbucks introduced guidance calling for global and U.S. comparable store sales growth of 3% or greater, with consolidated net revenues growing at a similar rate. The company guided to a slight year-over-year improvement in non-GAAP consolidated operating margin and non-GAAP earnings per share of $2.15 to $2.40.
Starbucks said it expects approximately 600 to 650 net new coffeehouses globally in fiscal 2026, across company-operated and licensed businesses. It also said its fiscal 2026 guidance assumes Starbucks China retail operations remain company-operated in the second half of the fiscal year, and it plans to provide additional information on its outlook during its investor day and related events.