Starbucks Corporation Q2 FY2026 earnings call

Brian mentioned Q2 marked a milestone with growth on top and bottom line. Back to Starbucks strategy working. North America led comp performance with transaction growth. International markets had momentum. Focus on coffee house improvements like staffing, scheduling, technology. Menu innovation, marketing, Starbucks rewards program driving demand. Coffeehouse uplifts driving positive feedback. International markets showed strength. Kathy walked through financials, North America and international segment details, margin discussion, China transaction impact.

Consolidated second quarter company revenue was 9.5 billion, up 8% year over year. Global comps were a strong 6%. North America led comp performance with North America and US comps accelerating to more than 7%, driven by over four percentage points of transaction growth. U.S. company-operated business grew transactions across all day parts. Delivery business contributed to comp ticket and transaction growth. International revenues grew nearly 8% year-over-year, comparable sales increased nearly 3%, top 10 international markets posted positive comps. North America segment revenues grew 6% to $6.9 billion, comparable store sales grew 7.1%. International segment reported $2.1 billion of net revenues, growing nearly 8% year over year, comp sales grew 2.6%.

Raised fiscal 2026 global comp growth guidance to 5% or better and earnings per share to $2.25 to $2.45. Consolidated fiscal 2026 net revenues expected to be roughly flat year over year. Expect slight year-over-year growth in consolidated operating margins. Still expect to add approximately 600 to 650 net new coffee houses this fiscal year, with international to accelerate growth and U.S. company operated coffee houses to have net new additions.

Questions from Brian Harbor, Sarah Senator, David Tarantino, David Palmer, Lauren Silberman, Chris O'Call, Peter Sala, John Ivanko, Jeffrey Bernstein, Sharon Zacfio with corresponding answers regarding service times, margin, operations improvement, cost of Green Apron service, comp momentum, rewards program, labor dollars, EPS growth algorithm, keeping momentum going forward