Summary
This filing is an amendment to Starbucks Corporation's 2006 10-K report, specifically correcting an administrative error in the Management's Discussion and Analysis (MD&A) section. The original filing incorrectly attributed the 7% comparable store sales growth in fiscal year 2006 to transaction value rather than the number of customer transactions. The amendment clarifies that the growth was driven by a 5% increase in customer transactions and a 2% increase in average transaction value. Investors should note that this amendment does not update any information beyond the fiscal year ended October 1, 2006, and focuses solely on rectifying this specific detail within the MD&A.
Key Highlights
- 1Amendment No. 1 to the 2006 10-K filing corrects an error in the MD&A regarding the drivers of comparable store sales growth.
- 2The fiscal year ended on October 1, 2006.
- 3The correction clarifies that comparable store sales growth of 7% in fiscal 2006 was primarily due to a 5% increase in customer transactions, with a 2% increase in average transaction value.
- 4Starbucks Corporation is classified as a 'Large Accelerated Filer'.
- 5The aggregate market value of voting stock held by non-affiliates as of March 31, 2006, was approximately $28.2 billion.
- 6The filing does not introduce new information or reflect developments after the original filing date of December 14, 2006.
Frequently Asked Questions
The primary purpose of this amendment is to correct a minor administrative error in the original 10-K filing from December 14, 2006. Specifically, it corrects how the drivers of comparable store sales growth for fiscal year 2006 were described in the Management's Discussion and Analysis section.
The original filing incorrectly stated that the 7% increase in comparable store sales growth in fiscal 2006 was due to a 5% increase in average transaction value and a 2% increase in customer transactions. The amendment corrects this to state that the increase was due to a 5% increase in the number of customer transactions and a 2% increase in the average value per transaction.
No, this amendment solely addresses the administrative error in the MD&A. It does not update any disclosures to reflect developments that have occurred since the original filing date of December 14, 2006.
The complete Form 10-K/A, including the full Item 7 as amended, will be available on Starbucks' corporate website and the SEC's website (www.sec.gov). It will also be provided without charge upon written request to Starbucks Investor Relations.