=Starbucks (SBUX) reported 4Q earnings on Thur 21 Jan 2016 (a/h)

** charts before earnings **



** charts after earnings **

Starbucks beats by $0.01, reports revs in-line; guides Q2 EPS just below consensus; reaffirms FY16 guidance :

• Reports Q1 (Dec) earnings of $0.46 per share, $0.01 better than the Capital IQ Consensus of $0.45; revenues rose 11.9% year/year to $5.37 bln vs the $5.39 bln Capital IQ Consensus.
• Global comparable store sales increased 8% vs. estimates just over 7%, including a 4% increase in traffic
  • Americas comp store sales increased 9%, including a 4% increase in traffic
  • China/Asia Pacific comp store sales increased 5%, driven by a 4% increase in traffic
  • EMEA comp store sales increased 1%, driven by a 1% increase in traffic
• Co issues downside guidance for Q2, sees EPS of $0.38-0.39, excluding non-recurring items, vs. $0.40 Capital IQ Consensus Estimate.
• Co reaffirms guidance for FY16, sees EPS of $1.87-1.89, excluding non-recurring items, vs. $1.89 Capital IQ Consensus Estimate; sees FY16 revs of +12% to ~$21.5 bln vs. $21.61 bln Capital IQ Consensus Estimate. Global comparable store sales growth somewhat above mid-single digits; ~1,800 net new store openings in the fiscal year: Americas: ~700, half licensed China/Asia Pacific: ~900, two-thirds licensed EMEA: ~200, primarily licensed