Starbucks 2024 10-K: $24B Revenue, Key Financials Revealed

TL;DR

SBX 2024 10-K: $24B revenue, costs up slightly. All good.

AI Summary

Starbucks Corporation filed its 2024 10-K report, ending September 29, 2024. The company reported total revenues of $24.0 billion for the fiscal year. Key financial figures include production and distribution costs of $1.13 billion and interest expense of $1.14 billion. The filing provides a comprehensive overview of Starbucks' financial performance and operations.

Why It Matters

This filing provides investors and analysts with a detailed look at Starbucks' financial health and operational performance for the past fiscal year, influencing investment decisions and market perception.

Risk Assessment

Risk Level: low — The filing is a standard annual report and does not indicate any immediate or unusual risks.

Key Numbers

• $24.0B — Total Revenues (Represents the company's total sales for the fiscal year ending September 29, 2024.)
• $1.13B — Production and Distribution Costs (Indicates the cost associated with producing and distributing goods for the fiscal year.)
• $1.14B — Interest Expense (Shows the cost of borrowing for the company during the fiscal year.)

Key Players & Entities

• STARBUCKS CORP (company) — Filer
• 0000829224 (company) — Central Index Key
• 20240929 (date) — Fiscal Year End
• $24.0 billion (dollar_amount) — Total Revenues
• $1.13 billion (dollar_amount) — Production and Distribution Costs
• $1.14 billion (dollar_amount) — Interest Expense

FAQ

Key Financial Figures

• $0.001 — ange on Which Registered Common Stock, $0.001 par value per share SBUX Nasdaq Global

Filing Documents

• sbux-20240929.htm (10-K) — 3008KB
• sbux-9292024xexhibit1033.htm (EX-10.33) — 88KB
• sbux-9292024xexhibit1034.htm (EX-10.34) — 83KB
• sbux-9292024xexhibit1035.htm (EX-10.35) — 80KB
• sbux-9292024xexhibit191.htm (EX-19.1) — 60KB
• image_0.jpg (GRAPHIC) — 25KB
• sbux-9292024xexhibit21.htm (EX-21) — 5KB
• sbux-9292024xexhibit23.htm (EX-23) — 2KB
• sbux-9292024xexhibit311.htm (EX-31.1) — 10KB
• sbux-9292024xexhibit312.htm (EX-31.2) — 10KB
• sbux-9292024xexhibit32.htm (EX-32) — 7KB
• sbux-20240929_g1.jpg (GRAPHIC) — 516KB
• sbux-20240929_g2.jpg (GRAPHIC) — 103KB
• 0000829224-24-000057.txt ( ) — 17664KB
• sbux-20240929.xsd (EX-101.SCH) — 103KB
• sbux-20240929_cal.xml (EX-101.CAL) — 150KB
• sbux-20240929_def.xml (EX-101.DEF) — 632KB
• sbux-20240929_lab.xml (EX-101.LAB) — 1277KB
• sbux-20240929_pre.xml (EX-101.PRE) — 970KB
• sbux-20240929_htm.xml (XML) — 2684KB

Risk Factors

Item 1A Risk Factors 11

Unresolved Staff Comments

Item 1B Unresolved Staff Comments 28 Item 1C C ybersecurity 28

Properties

Item 2 Properties 30

Legal Proceedings

Item 3 Legal Proceedings 30

Mine Safety Disclosures

Item 4 Mine Safety Disclosures 30 PART II Item 5 Market for the Registrant's Common Equity, Related Shareholder Matters , and Issuer Purchases of Equity Securities 31

Management's Discussion and Analysis of Financial Condition and Results of Operations

Item 7 Management's Discussion and Analysis of Financial Condition and Results of Operations 34

Quantitative and Qualitative Disclosures About Market Risk

Item 7A Quantitative and Qualitative Disclosures About Market Risk 49

Financial Statements and Supplementary Data

Item 8 Financial Statements and Supplementary Data 50 Index for Notes to Consolidated Financial Statements 55 Report of Independent Registered Public Accounting Firm 89

Changes in and Disagreements with Accountants on Accounting and Financial Disclosure

Item 9 Changes in and Disagreements with Accountants on Accounting and Financial Disclosure 91

Controls and Procedures

Item 9A Controls and Procedures 91

Other Information

Item 9B Other Information 93

Disclosure Regarding Foreign Jurisdictions that Prevent Inspections

Item 9C Disclosure Regarding Foreign Jurisdictions that Prevent Inspections 93 PART III

Directors, Executive Officers , and Corporate Governance

Item 10 Directors, Executive Officers , and Corporate Governance 94

Executive Compensation

Item 11 Executive Compensation 94

Security Ownership of Certain Beneficial Owners and Management and Related Shareholder Matters

Item 12 Security Ownership of Certain Beneficial Owners and Management and Related Shareholder Matters 94

Certain Relationships and Related Transactions and Director Independence

Item 13 Certain Relationships and Related Transactions and Director Independence 94

Principal Accountant Fees and Services

Item 14 Principal Accountant Fees and Services 94 PART IV

Exhibits and Financial Statement Schedules

Item 15 Exhibits and Financial Statement Schedules 95

Form 10-K Summary

Item 16 Form 10-K Summary 102

SIGNATURES

SIGNATURES 103 Table of Contents CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS This Annual Report on Form 10-K includes "forward-looking" statements within the meaning of the Private Securities Litigation Reform Act of 1995 regarding future events and the future results of Starbucks Corporation (together with its subsidiaries) that are based on our current expectations, estimates, forecasts, and projections about our business, our results of operations, the industry in which we operate, our economic and market outlook, and the beliefs and assumptions of our management. Forward-looking statements can be identified by the fact that they do not relate strictly to historical or current facts. They often include words such as "believes," "expects," "anticipates," "estimates," "intends," "plans," "seeks," or words of similar meaning, or future or conditional verbs, such as "will," "should," "could," "may," "aims," "intends," or "projects," and similar expressions intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. By their nature, forward-looking statements involve risks, uncertainties, and other factors (many beyond our control) that could cause our actual results to differ materially from our historical experience or from our current expectations or projections. Our forward-looking statements, and the risks and uncertainties related thereto, include, but are not limited to, those described under the "Risk Factors" and "Management ' s Discussion and Analysis of Financial Condition and Results of Operations" sections and in other reports we file with the U.S. Securities and Exchange Commission ("SEC"), as well as, among others: our ability to preserve, grow, and leverage our brands, including the risk of negative responses by consumers (such as boycotts or negative publicity campaigns), governmental actors (such as retaliatory legislative treatment), or other third parties who object

Business

Item 1. Business General In this Annual Report on Form 10-K ("10-K" or "Report") for the fiscal year ended September 29, 2024 ("fiscal 2024"), Starbucks Corporation (together with its subsidiaries) is referred to as "Starbucks," the "Company," "we," "us," or "our." Starbucks is the premier roaster, marketer, and retailer of specialty coffee in the world, operating in 87 markets. Formed in 1985, Starbucks Corporation's common stock trades on the Nasdaq Global Select Market ("Nasdaq") under the symbol "SBUX." We purchase and roast high-quality coffees that we sell, along with handcrafted coffee, tea, and other beverages and a variety of high-quality food items through company-operated stores. We also sell a variety of coffee and tea products and license our trademarks through other channels, such as licensed stores as well as grocery and foodservice through our Global Coffee Alliance with Nestl S.A. ("Nestl"). In addition to our flagship Starbucks Coffee brand, we sell goods and services under the following brands: Teavana , Ethos , and Starbucks Reserve . Our primary objective is to maintain Starbucks standing as one of the most recognized and respected brands in the world. We believe the continuous investments in our brand and operations will deliver long-term targeted revenue and income growth. This includes expansion of our global store base, adding stores in both existing, developed markets such as the U.S. and in higher growth markets, as well as optimizing the mix of company-operated and licensed stores around the world. In addition, by leveraging experiences gained through our stores and elsewhere, we continue to drive beverage, equipment, process, and technology innovation, including in our industry-leading digital platform. We strive to regularly offer consumers new, innovative coffee and other products in a variety of forms, across new categories, diverse channels, and alternative store formats. Starbucks has always been a different kind of company –

View Full Filing

View this 10-K filing on SEC EDGAR