Starbucks Corporation

The document does not provide specific details on current, expected orderbook, or pending orders for Starbucks. However, related operational and growth insights include: - Starbucks expects to add approximately 600 to 650 net new coffeehouses in fiscal 2026. - International expansion is accelerating, targeting 450 to 500 net new coffeehouses, with China comprising nearly half. - The U.S. company-operated stores expect 150 to 175 net new openings this year. - Efforts focus on improving operational throughput via technology, equipment, and processes to support increased transactions. - No explicit mention of orderbook or pending orders volumes. If you need information about product orders or supply chain specifics, that data does not appear in the provided pages.

- There is no mention on page 14 or surrounding pages about any current or planned fundraising through debt or equity. - The focus in the transcript is on operational improvements, cost savings, and growth strategies rather than new capital raises. - Catherine Smith highlights a $2 billion multiyear cost savings program to drive margin expansion, offsetting investments without discussing new fundraising. - The company discusses raising EPS guidance and managing costs but there is no indication of issuing new debt or equity. - Overall, Starbucks is concentrating on organic growth, operational discipline, and improving profitability without announcing new fundraising initiatives in this call.

- Starbucks is making strategic investments in its "Back to Starbucks" priorities, including store uplifts such as the third place experience in over 300 stores, expanding to 1,000+ stores by year-end, and targeting 8,000+ stores eventually (Page 8). - Continued investments in the Green Apron Service model to enhance customer experience, partner support, and operational improvements, which have been ongoing for nearly a year and will continue (Pages 8, 10, 12). - Focus on technology and equipment innovations to improve labor productivity and throughput in stores, e.g., faster espresso shots (4 shots in under 30 seconds), smarter queue management, and scheduling improvements, aimed at driving more transactions without cutting labor hours (Pages 12, 14). - Investment in evolving the Starbucks Rewards program to increase engagement and personalize customer experience (Page 11). - Overall, investments are balanced with a $2 billion multiyear cost-savings program running through fiscal 2028, ensuring financial discipline amid strategic investments (Pages 6, 13).

- Starbucks expects continued global revenue growth, with Q2 consolidated revenue up 8% year-over-year to $9.5 billion. - Comparable store sales globally grew 6.2%, driven by strong performance in North America and International segments. - North America segment revenues rose 6% with comparable store sales growth of 7.1%. - International revenues increased nearly 8% with comps up 2.6%, led by positive results in key markets including China, Japan, South Korea, and Mexico. - Starbucks plans to add approximately 600 to 650 net new coffeehouses in fiscal 2026, with international growth accelerating, especially in China. - Delivery, mobile order pickup, and café business are key growth channels supported by optimized labor deployment and technology enhancements. - Starbucks is investing in "Back to Starbucks" priority initiatives and store uplifts (targeting over 1,000 by fiscal year-end) to further enhance customer experience and increase transactions. - Growth is also supported by increasing Starbucks Rewards memberships, now at a record 35.6 million active members.

- Starbucks raised fiscal 2026 EPS guidance to $2.25 - $2.45, reflecting confidence from strong Q2 results and 5%+ global comp growth. - Long-term EPS growth targets for fiscal 2028 remain unchanged, aiming for approximately $4 per share driven by operating margin expansion and top-line growth. - About half of operating margin expansion by 2028 is expected from a $2 billion multiyear cost savings program (balanced across product, distribution, OpEx, and G&A). - Margin gains also expected from top-line strength and easing coffee and tariff-related cost pressures in the back half of fiscal 2026. - Operating margin improved 110 basis points in Q2 fiscal 2026, signaling margin expansion momentum. - China JV transition expected to be margin accretive long-term. - Continued investments in Green Apron Service and operational efficiency are key drivers of growth and margin improvement.