U.S. COMPANY FILING
STARBUCKS CORP — Form 10-Q filed 2026-01-28
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Starbucks reported Q1 FY2026 net revenues of $9.92 billion, up 6% YoY, but net earnings fell sharply to $293 million due to restructuring charges, China divestiture, and a high tax rate. The company announced a partial divestiture of its China retail operations to Boyu Capital, valuing the business at approximately $4 billion, expected to close by early 2026. It continues its 'Back to Starbucks' strategy, closing underperforming stores and expecting about $140 million in additional restructuring costs for the remainder of FY2026.
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