8-KEarnings & ResultsOther EventsExhibits & Filings

STARBUCKS CORP 8-K Report, Financial Results (Oct 30, 2019)

Filed October 30, 2019For Securities:SBUX

Summary

Starbucks Corporation filed an 8-K report on October 30, 2019, primarily to announce its financial results for the quarter ended September 29, 2019. This filing includes a press release detailing the company's performance, providing investors with key metrics and operational updates. Additionally, the report discloses a significant change in Starbucks' segment reporting structure, effective in the fourth quarter of fiscal 2019. The former China/Asia Pacific (CAP) and Europe, Middle East, and Africa (EMEA) segments have been merged into a single 'International' segment. The Siren Retail operations (Starbucks Reserve Roastery & Tasting Rooms, Starbucks Reserve brand, and Princi) have been reclassified to be reported within the Americas and International segments based on their geographic location, moving from the 'Corporate and Other' category. These reclassifications aim to better reflect the company's streamlining efforts and enhance the review of its results.

Key Highlights

  • 1Starbucks announced its financial results for the quarter ended September 29, 2019, via a press release filed with the SEC.
  • 2The company has re-aligned its segment reporting structure starting in the fourth quarter of fiscal 2019.
  • 3The previous China/Asia Pacific (CAP) and Europe, Middle East, and Africa (EMEA) segments have been combined into a new 'International' segment.
  • 4Siren Retail operations, including Starbucks Reserve Roastery & Tasting Rooms and Princi, are now reported within the Americas and International segments based on location.
  • 5These changes were made to better reflect the cumulative effect of streamlining efforts and to support the review of Starbucks' results.
  • 6Restated historical financial information reflecting the re-segmentation is attached as an exhibit.

Frequently Asked Questions

The main purpose of this 8-K filing is to announce Starbucks Corporation's financial results for the fiscal quarter ended September 29, 2019, and to disclose significant changes to its segment reporting structure.

Starbucks has combined its former China/Asia Pacific (CAP) and Europe, Middle East, and Africa (EMEA) segments into a single 'International' segment. Additionally, the results from Siren Retail operations (Starbucks Reserve Roastery & Tasting Rooms, Starbucks Reserve brand, and Princi) are now reported within the geographic segments (Americas and International) rather than being consolidated under 'Corporate and Other'.

The company stated that the re-alignment is intended to better reflect the cumulative effect of its streamlining efforts and to support Starbucks' review of its financial results.

The detailed financial results are provided in the press release issued by Starbucks Corporation on October 30, 2019, which is attached as Exhibit 99.1 to this 8-K filing.