Starbucks (SBUX) official guidance

We remain on track with our $2 billion cost savings plan. These are gross savings, which we expect to realize through fiscal 2028 and balanced across product and distribution costs, OpEx, and G&A.

| Non-GAAP net earnings per share | $ 2.55 - 2.65 |

Positive comp trends have continued through April, and this gives us the confidence to take up our fiscal 2026 guidance for global comp growth to 5% or better and earnings per share to $2.25-2.45.

•Non-GAAP earnings per share in the range of $2.25 to $2.45;

Our EPS guidance of $2.15-$2.40 reflects our measured approach, investing strategically in the first half to establish momentum, then building on our work for growth in the second half.

•Non-GAAP earnings per share in the range of $2.15 to $2.40;

Approximately 600 to 650 net new coffeehouses globally across company-operated and licensed businesses.

Finally, from a unit count perspective, we still expect to add approximately 600-650 net new coffee houses this fiscal year.

•Approximately 600 to 650 net new coffeehouses globally across company-operated and licensed businesses.

In fiscal 2026, we expect approximately 600-650 net new coffeehouses as we work to rebuild our development pipeline.

•Approximately 600 to 650 net new coffeehouses globally across company-operated and licensed businesses.

Non-GAAP consolidated operating margin greater than 11.0%;

Full fiscal year 2026 U.S. comparable store sales growth of slightly greater than 6.0%; and

Starting at the top of the P&L, we are raising our fiscal 2026 global comp guidance to 5% growth or better, led by 5% or better comps in the U.S.

•Global and U.S. comparable store sales growth of 5.0% or greater;

For fiscal 2026, we expect 3% or better global comp sales growth, led by 3% or better comp sales in the US as well.

•Global and U.S. comparable store sales growth of 3% or greater, with consolidated net revenues growing at a similar rate;

Fourth quarter U.S. comparable store sales growth of 6.5% or greater, leading to:

Full fiscal year 2026 global comparable store sales growth nearing 6.0%.

Starting at the top of the P&L, we are raising our fiscal 2026 global comp guidance to 5% growth or better, led by 5% or better comps in the U.S.

•Global and U.S. comparable store sales growth of 5.0% or greater;

For fiscal 2026, we expect 3% or better global comp sales growth, led by 3% or better comp sales in the US as well.

•Global and U.S. comparable store sales growth of 3% or greater, with consolidated net revenues growing at a similar rate;

Consolidated net revenues flat to slight growth year over year;

As such, we now expect our consolidated fiscal 2026 net revenues to be roughly flat year-over-year.

•Consolidated net revenues roughly flat year over year;

We expect our consolidated net revenues to grow at a similar rate to global comp growth for the full fiscal 2026, as our portfolio repositioning at the end of fiscal 2025 offsets our new store openings.

•Global and U.S. comparable store sales growth of 3% or greater, with consolidated net revenues growing at a similar rate;

We're accelerating this work over the next two quarters and expect to have more than 1,000 uplifts completed in our top 20 markets by fiscal year-end.

To date, we've completed approximately 200 uplifts, primarily in Southern California and New York City, and we're on track to complete more than 1,000 by the end of fiscal 2026.

We are working to complete more than a thousand of these uplifts by the end of fiscal 2026.

| Diluted net earnings per share (GAAP) (1) | $ 1.73- 1.93 |

| Income tax effect on Non-GAAP adjustments | (0.05) |

| Income tax impact from changes in indefinite reinvestment assertions | 0.24 |

| Restructuring and impairments | 0.21 |

| Transaction costs | 0.08 |

| Transformation costs | 0.04 |

This includes 150-175 net new US company-operated coffeehouses, a slight decrease in North America licensed coffeehouses, and 450-500 net new international coffeehouses, of which China comprises close to half.

This includes 150-175 net new US company-operated coffeehouses, a slight decrease in North America licensed coffeehouses, and 450-500 net new international coffeehouses, of which China comprises close to half.

•Non-GAAP consolidated operating margin to slightly improve year over year;

We expect consolidated operating margins to grow slightly year-over-year, driven by improvements in the back half of the year.

•Non-GAAP consolidated operating margin to slightly improve year over year;

As such, we expect that our consolidated G&A in fiscal 2026 will run lower than fiscal 2023 levels, serving as a partial offset to our Back to Starbucks investments.