In Starbucks’ fiscal first quarter, global comparable store sales increased 4%, marking the second consecutive quarter of positive growth after 18 months of declines. U.S. comp sales also rose 4% and transactions grew for the first time in two years, reversing an eight-quarter slide in guest counts. The company opened 278 net new stores globally during the period, contributing to a 5% rise in consolidated revenue to $9.92 billion, while China delivered 7% comp growth. Although operating margins compressed to 9% from historic double digits and EPS declined 19% year-over-year, management emphasized that initial progress on traffic and ticket trends validates CEO Brian Niccol’s “Back to Starbucks” strategy and sets a foundation for margin recovery.

At its 2026 Investor Day, Starbucks outlined a detailed plan through fiscal 2028, projecting at least 5% annual net revenue growth and 3% comparable store sales growth in both the U.S. and international markets. The company intends to add over 2,000 net new stores worldwide—approximately 400 company-operated units in the U.S.—and target 2%–3% revenue contribution from new locations. Executives forecast non-GAAP operating margins of 13.5%–15% and EPS of $3.35–$4.00 by 2028. These long-term targets hinge on delivering consistent comp growth, disciplined expansion, and operating leverage from initiatives such as the Green Apron Service model and AI-enabled throughput improvements.

Beginning March 10, Starbucks will launch a tiered Starbucks Rewards structure—Green, Gold and Reserve—designed to accelerate member engagement and increase average spend. The program will reward 1–1.7 Stars per dollar based on tier, introduce a new 60-Star redemption level worth $2 off any purchase, and grant Gold and Reserve members Stars that never expire. With 35.5 million active U.S. members generating 60% of company-operated revenue, Starbucks projects that even modest increases in member frequency and ticket size could unlock significant incremental profit, supporting its efforts to translate customer loyalty into sustainable margin expansion.