Starbucks Announces Q4 and Fiscal Year 2019 Results Conference Call
October 16 2019 - 5:05PM
Business Wire
Introduces
Realigned Operating Segment Reporting Structure and Statement of
Earnings Reclassifications
Starbucks Corporation (Nasdaq: SBUX) plans to release its fourth
quarter and fiscal year 2019 financial results after the market
close on Wednesday, October 30, 2019 with a conference call to
follow at 2:00 p.m. PT. The conference call will be webcast,
including closed captioning, and can be accessed on the company’s
website: http://investor.starbucks.com. A replay of the webcast
will be available on the company’s website until end of day
Thursday, November 28, 2019.
In the fourth quarter of fiscal 2019, Starbucks realigned its
operating segment reporting structure to better reflect the
cumulative effect of the company’s streamlining efforts.
Specifically, the previous China/Asia Pacific (“CAP”) segment and
Europe, Middle East, and Africa (“EMEA”) segment have been combined
into one International segment. The company will continue to
provide supplemental information on its two lead growth markets,
the U.S. and China, in its quarterly earnings news releases in
accordance with its “Growth at Scale” agenda.
Concurrently, results of Siren Retail, a non-reportable
operating segment consisting of Starbucks ReserveTM Roastery &
Tasting Rooms, Starbucks Reserve brand and Princi operations, which
was previously included within Corporate and Other, is now reported
within the Americas and International segments based on the
geographical location of the operations. Starbucks has also changed
the classification of certain costs, including reclassification of
company-operated store occupancy costs from cost of sales to store
operating expenses.
There is no impact to consolidated net revenues, consolidated
operating income, or net earnings per share as a result of these
changes.
Restated GAAP and non-GAAP quarterly financial information for
FY18 and FY19 (through fiscal Q3) can be found on the company’s
website under Supplemental Financial Data.
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 stories.starbucks.com or
www.starbucks.com.
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version on businesswire.com: https://www.businesswire.com/news/home/20191016005907/en/
Starbucks Contact, Investor Relations: Durga Doraisamy
206-318-7118 investorrelations@starbucks.com
Starbucks Contact, Media: Reggie Borges 206-318-7100
press@starbucks.com
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