Starbucks: Reports Q1 Fiscal 2024 Financial Results

Seattle / WA. (sc) Starbucks Corporation reported financial results for its 13-week fiscal first quarter ended December 31, 2023. GAAP results in fiscal 2024 and fiscal 2023 include items that are excluded from non-GAAP results. «Our first quarter performance was strong on many measures. Of note was the unwavering commitment of our most loyal customers, the growth in rewards members, tender and spend per member,» said CEO Laxman Narasimhan. «Despite headwinds, our brand is very strong, and that coupled with innovation and a relentless focus on our green apron partners form long-term differentiators, along with focused execution on Triple Shot Reinvention, will drive balanced and attractive earnings growth.»

«I am proud of the significant margin expansion and double-digit earnings growth we delivered in our first quarter, as it underscores our multiple paths to earnings growth,» added CFO Rachel Ruggeri. «We are executing on several levers within those multiple paths to continue delivering against our balanced growth model over the remainder of the year.» For additional info please read the PDF file below (273 KB):