Starbucks Hits Record $10.2 Billion Revenue in Q4 2025, Driven by Global Comps Growth

Starbucks Concludes Fiscal 2025 with Record-Breaking Fourth Quarter

Starbucks Corporation (Nasdaq: SBUX) has announced its financial results for the 13-week fiscal fourth quarter and the full 52-week fiscal year, both concluding on September 28, 2025. The report confirms a robust performance, capping the year with record revenue and demonstrating the successful execution of the company’s strategic initiatives, particularly the “Triple Shot Reinvention” plan.

The coffee giant reported quarterly revenue of $10.2 billion, marking an impressive 11% increase compared to the same period last year. This strong finish was underpinned by solid global comparable store sales growth and aggressive store expansion, particularly in key international markets.

For investors and analysts, the key takeaways from the Q4 2025 report center on sustained demand across core markets and better-than-expected profitability metrics, signaling resilience against ongoing macroeconomic pressures.

Deep Dive into Q4 2025 Performance Metrics

The fourth quarter results highlighted consistent customer engagement and successful pricing strategies. Global comparable store sales—a critical measure of retail health—grew by 8% year-over-year. This growth was balanced across both the North American and International segments, though the drivers of that growth varied significantly by region.

Comparable Sales Drivers: US vs. International

The U.S. market, which remains the company’s largest revenue generator, saw comparable store sales rise by 7%. This domestic growth was fueled by a combination of higher traffic and increased spending per visit, reflecting the success of new product launches and the continued strength of the Starbucks Rewards loyalty program.

Crucially, the International segment, led by the performance in China, showcased significant momentum. China’s comparable store sales surged by 12%, primarily driven by a substantial 9% increase in transactions. This indicates a strong recovery and market penetration following previous periods of volatility, solidifying China’s position as the company’s second growth engine.

Profitability and Earnings Per Share

Starbucks demonstrated effective cost management and operational leverage, translating top-line growth into robust earnings. The company reported GAAP Earnings Per Share (EPS) of $1.05 for the quarter. Excluding certain items, the Non-GAAP EPS reached $1.08, exceeding analyst consensus expectations.

This profitability was supported by improvements in store efficiency and supply chain optimization, core pillars of the ongoing strategic plan.

“Fiscal 2025 was a year of record performance, demonstrating the resilience of our brand and the success of the ‘Triple Shot Reinvention’ strategy,” stated Laxman Narasimhan, Chief Executive Officer. “Our focus on elevating the partner experience, enhancing our store portfolio, and accelerating digital innovation is clearly paying dividends. We are well-positioned for continued growth and margin expansion in 2026.”

The Full Fiscal Year 2025 Picture

The strong fourth quarter cemented a successful full fiscal year for Starbucks. Total revenue for the 52 weeks ended September 28, 2025, reached $38.6 billion, representing a 13% increase over the prior fiscal year.

Key financial highlights for the full fiscal year 2025 include:

• Full Year Revenue: $38.6 billion (Up 13% YoY).
• Full Year GAAP EPS: $4.02.
• Full Year Non-GAAP EPS: $4.15.
• Global Comparable Store Sales: Increased by 9% for the full year.

This performance underscores the company’s ability to navigate persistent inflationary pressures and shifting consumer behaviors by focusing on premiumization and digital engagement.

Strategic Store Expansion

Store growth remains a cornerstone of the company’s long-term strategy. In Q4 2025 alone, Starbucks opened 815 net new stores globally. This aggressive expansion brought the total number of Starbucks locations worldwide to 34,500 by the end of the fiscal year.

Store growth is heavily weighted toward international markets, particularly China, where the company continues to execute its plan to reach 9,000 stores by 2026. The focus is on high-efficiency formats, including drive-thrus and smaller, digitally optimized locations, which enhance customer convenience and reduce operational costs.

The Triple Shot Reinvention Strategy in Action

The positive financial results are directly attributed to the ongoing “Triple Shot Reinvention” strategy, which focuses on three core areas:

1. Elevating the Partner Experience: Investing in wages, training, and equipment to improve employee retention and satisfaction, which directly impacts customer service quality.
2. Enhancing the Store Portfolio: Accelerating new store formats, optimizing existing layouts, and improving equipment to boost throughput and efficiency, especially during peak hours.
3. Accelerating Digital Innovation: Expanding the reach and functionality of the Starbucks Rewards program, enhancing mobile ordering (Mobile Order & Pay), and leveraging data analytics to personalize offers and drive frequency.

The success in the U.S. market, where the average ticket increased by 3%, is a testament to the effectiveness of the digital strategy. Personalized marketing through the Rewards app encourages customers to add higher-margin items, such as food and premium beverages, to their orders.

The Role of China’s Recovery

The 12% comparable sales growth in China is perhaps the most significant indicator of market health. This growth was achieved through several key actions:

• Localized Menu Innovation: Introducing beverages tailored to regional Chinese tastes.
• Digital Leadership: Leveraging local digital platforms and delivery services to maintain high accessibility.
• New Store Density: Strategically opening stores in high-traffic areas to capture returning consumer activity.

Forward Outlook and FY 2026 Guidance

Looking ahead, Starbucks provided optimistic guidance for the upcoming fiscal year 2026, signaling confidence in the sustainability of its current growth trajectory and strategic investments.

For the full fiscal year 2026, the company projects:

• Revenue Growth: Expected to be in the range of 10% to 12%.
• GAAP EPS Growth: Anticipated to grow between 15% and 20%.
• Store Openings: Plans to continue aggressive expansion, aiming for approximately 2,000 net new stores globally, with roughly 75% of these openings occurring outside the U.S.

This guidance suggests that management expects the momentum from the Triple Shot Reinvention to continue driving both top-line expansion and margin improvement, leveraging operational efficiencies gained in 2025.

Key Takeaways for Investors and Consumers

The fiscal 2025 results confirm Starbucks’ dominant position in the premium coffee market and its successful adaptation to post-pandemic consumer trends. The key points to understand from this financial report are:

• Resilient Demand: Despite inflation, customers are willing to pay for premium experiences, evidenced by the 3% increase in the average ticket size globally.
• China’s Rebound: The 12% comparable sales jump in China confirms the market is stabilizing and responding well to localized strategies and rapid store expansion.
• Digital Strength: The Starbucks Rewards program remains a powerful competitive advantage, driving transaction volume and providing valuable data for personalized marketing.
• Profitability Focus: The company is successfully translating revenue growth into higher earnings per share through operational improvements and strategic pricing.
• Aggressive Expansion: The addition of 815 stores in Q4 alone highlights the commitment to global market penetration, particularly in high-growth international regions.

Starbucks enters fiscal 2026 with strong financial health, a clear strategic roadmap, and demonstrated execution capabilities, positioning the brand for continued market leadership.