ADDING and REPLACING Starbucks Announces 2-for-1 Stock Split, its Sixth Split Since Initial Public Offering
March 18 2015 - 6:13PM
Business Wire
Add after last paragraph of release:
GAAP to Non-GAAP Reconciliation Table – Fiscal 2015 EPS
Targets on a Split-Adjusted Basis
Diluted Net Earnings per Share Full Year FY15
GAAP $1.77 to $1.79 Starbucks Japan acquisition-related
items - gain(1) ($0.26) Starbucks Japan acquisition-related
items - other(2) $0.03 Non-GAAP $1.55 to $1.57
Diluted Net Earnings per Share
Q2 FY15
GAAP $0.32 Starbucks Japan acquisition-related items -
other(2) $0.01 Non-GAAP $0.32 to $0.33
(1) Gain represents the fair value adjustment of Starbucks
preexisting 39.5% ownership interest in Starbucks Japan upon
acquisition.
(2) Includes ongoing amortization expense of acquired intangible
assets and transaction and integration costs.
(C) 2015 Starbucks Coffee Company. All rights reserved.
The corrected release reads:
STARBUCKS ANNOUNCES 2-FOR-1 STOCK SPLIT, ITS
SIXTH SPLIT SINCE INITIAL PUBLIC OFFERING
Starbucks Corporation (NASDAQ: SBUX) today announced that its
Board of Directors has declared a two-for-one stock split.
Shareholders of record as of March 30, 2015 will receive one
additional share for each share held on the record date. The new
shares will be payable on April 8, 2015. Starbucks common stock
will begin trading on a split-adjusted basis on April 9, 2015. This
is the sixth two-for-one split of the company’s common stock since
its initial public offering in 1992; the previous stock split
occurred in October 2005.
“On behalf of our board of directors, the Starbucks leadership
team and the 300,000 partners who wear the Green Apron globally, I
am proud to announce this two-for-one stock split, the sixth in our
23-year history as a public company,” said Howard Schultz, chairman
and ceo of Starbucks Corporation. “This split is a direct
reflection of the past seven years of increasing shareholder value,
enhancing the liquidity of our shares, and building an attractive
share price. It also takes place at a time when Starbucks
shareholders are experiencing an all-time high in value as we
continue to deliver world-class customer service and, in turn,
record profits and revenue.”
“Adjusting for the stock split effectively has the impact of
modestly increasing our earnings guidance for the second quarter
and for fiscal 2015,” noted Scott Maw, chief financial officer of
Starbucks Corporation.
On a split adjusted basis, the company’s previously communicated
GAAP and non-GAAP earnings per share targets equate to GAAP EPS of
$0.32 and a non-GAAP range of $0.32 to $0.33 for the second quarter
of fiscal 2015, and a GAAP range of $1.77 to $1.79 and a non-GAAP
range of $1.55 to $1.57 for the full fiscal year 2015. Due to this
adjustment, the company is updating its GAAP and non-GAAP Q2 FY15
and full year FY15 EPS targets; it is neither updating nor
reaffirming any other FY15 targets at this time. A reconciliation
of GAAP to non-GAAP measures can be found at the end of this
release. Answers to frequently asked questions about the stock
split can be found on the Investor Relations section of the
company’s website at http://investor.starbucks.com.
Starbucks plans to report its fiscal second quarter 2015
financial results on April 23, 2015.
About Starbucks
Since 1971, Starbucks Coffee Company has been committed to
ethically sourcing and roasting high-quality arabica coffee. Today,
with stores around the globe, the company is the premier roaster
and retailer of specialty coffee in the world. Through our
unwavering commitment to excellence and our guiding principles, we
bring the unique Starbucks Experience to life for every customer
through every cup. To share in the experience, please visit us in
our stores or online at www.starbucks.com.
Forward Looking Statement
This release includes forward-looking statements regarding the
liquidity of our shares, our share price, profits, revenues and
projected earnings per share results. These forward-looking
statements are based on currently available operating, financial,
and competitive information and are subject to various risks and
uncertainties. These statements are based upon information
available to Starbucks as of the date hereof, and Starbucks actual
results or performance, the liquidity of its shares or its share
price could differ materially from those stated or implied due to
risks and uncertainties associated with its business. These risks
and uncertainties include, but are not limited to, fluctuations in
U.S. and international economies and currencies, our ability to
preserve, grow and leverage our brands, potential negative effects
of material breaches of our information technology systems if any
were to occur, costs associated with, and the successful execution
of, the company’s initiatives and plans, the acceptance of the
company’s products by our customers, the impact of competition,
coffee, dairy and other raw material prices and availability, the
effect of legal proceedings, and other risks detailed in the
company filings with the Securities and Exchange Commission,
including the “Risk Factors” section of the Starbucks Annual Report
on Form 10-K for the fiscal year ended September 28, 2014. The
company assumes no obligation to update any of these
forward-looking statements.
GAAP to Non-GAAP Reconciliation Table – Fiscal 2015 EPS
Targets on a Split-Adjusted Basis
Diluted Net Earnings per Share Full Year FY15
GAAP $1.77 to $1.79 Starbucks Japan acquisition-related
items - gain(1) ($0.26) Starbucks Japan acquisition-related
items - other(2) $0.03 Non-GAAP $1.55 to $1.57
Diluted Net Earnings per Share
Q2 FY15
GAAP $0.32 Starbucks Japan acquisition-related items -
other(2) $0.01 Non-GAAP $0.32 to $0.33
(1) Gain represents the fair value adjustment of Starbucks
preexisting 39.5% ownership interest in Starbucks Japan upon
acquisition.
(2) Includes ongoing amortization expense of acquired intangible
assets and transaction and integration costs.
(C) 2015 Starbucks Coffee Company. All rights reserved.
Photos/Multimedia Gallery Available:
http://www.businesswire.com/multimedia/home/20150318006199/en/
Starbucks CorporationInvestor Relations: JoAnn
DeGrande, 206-318-7118,
investorrelations@starbucks.comMedia: Linda Mills,
206-318-7100, press@starbucks.com
Starbucks (NASDAQ:SBUX)
Historical Stock Chart
From Aug 2024 to Sep 2024
Starbucks (NASDAQ:SBUX)
Historical Stock Chart
From Sep 2023 to Sep 2024