In Q1 FY2026 Starbucks reported a 4% year-over-year increase in North American comparable store sales, driven by improvements in throughput and customer experience under its “Back to Starbucks” strategy. Management reinstated full-year guidance after earlier pausing targets, citing positive sales momentum and projecting operating profit margin expansion later in FY26. The company also unveiled FY28 ambitions of achieving more than 5% annual revenue growth and restoring margins to a 13.5%–15% range, up from mid-single digits in the latest quarter.

Since the first Buffalo store unionized in December 2021, Starbucks Workers United has grown to claim representation at around 600 locations—roughly 5% of the 11,000 company-operated stores in North America. While negotiations with local chapters continue, CEO Brian Niccol has publicly expressed willingness to seek fair, sustainable agreements. Investor attention remains on potential labor costs and disruption risks as Starbucks balances workforce stability with its turnaround objectives.

In the most recent SEC filing Great Lakes Advisors reduced its Starbucks stake by 16.4%, selling 11,999 shares to hold 61,076 at quarter end, a position valued at approximately $5.17 million. Other funds such as Transce3nd LLC and PFS Partners expanded their modest stakes, reflecting varied institutional sentiment. On the sell-side, nineteen analysts maintain a Buy rating, seven hold, and two sell, with consensus targets implying mid-single-digit upside. Key revisions include Mizuho lifting its objective from 86 to 95, BMO reiterating Outperform with a 120 objective, Citigroup upgrading to Positive, and Bank of America increasing its objective from 106 to 114.