Starbucks reports sales growth, closes stores and forecasts expansion

Starbucks reported higher comparable sales and adjusted earnings in its fiscal fourth quarter, while revenue fell following a shift in its China operations and the company closed about 250 North American stores. It forecast further earnings growth and about 1,200 net new coffeehouses globally in fiscal 2027. Adjusted earnings were 80 cents per share, up 54% from a year earlier. Consolidated revenue was about $9.1 billion, down roughly 4%. Starbucks attributed the revenue decline primarily to moving its China retail business from company-operated stores to a licensed joint venture. Global comparable sales rose 7.2% in the quarter. U.S. comparable sales increased 7.7%, with transactions up 2.4% and average ticket up 5.2%. International comparable sales rose 0.9%; transactions declined 2.8%, while average ticket increased 3.7%. The company said about 250 company-operated coffeehouses in North America closed in September as part of its Back to Starbucks strategy. Of those, 212 were in the United States, according to a company update. Starbucks also added a net 303 coffeehouses during the quarter. For fiscal 2027, Starbucks forecast adjusted earnings of $3.15 to $3.25 per share and...