Starbucks ended fiscal 2024 with 40,199 stores worldwide and $36.2 billion in consolidated net revenue. The company’s FY2024 reporting also shows a mixed operating picture: store growth continued, while global comparable store sales declined 2% and comparable transactions declined 4%.
Table of contents
- Global store footprint
- Comparable sales and customer activity
- Revenue, income, and liquidity
- Regional financial performance
- Partners, pay, and training
- Community investment and food programs
- Environmental and coffee-sourcing metrics
Global store footprint
Starbucks’ fiscal year ended with a large and nearly evenly split store base. The Starbucks Q4 and FY2024 Results reported 40,199 stores worldwide. The Starbucks FY2024 Annual Report classified 21,018 as company-operated and 19,181 as licensed. The company’s quarterly results summarized that mix as 52% company-operated and 48% licensed.
The geographic distribution leaned international. North America had 18,424 stores at fiscal year-end, while international markets had 21,775. The United States accounted for 16,941 stores at the end of Q4 FY2024, and China had 7,596. These figures are year-end counts, not estimates of daily operating locations.
Store expansion continued during the year. Starbucks opened 722 net new stores in Q4 FY2024 and added 1,426 net new company-operated stores across fiscal 2024. North America contributed 533 net new company-operated stores, while international markets contributed 893.
| Store statistic | FY2024 figure | Reporting period or scope |
|---|---|---|
| Worldwide stores | 40,199 | Fiscal year-end |
| Company-operated stores | 21,018 | Fiscal year-end |
| Licensed stores | 19,181 | Fiscal year-end |
| U.S. stores | 16,941 | End of Q4 FY2024 |
| China stores | 7,596 | End of Q4 FY2024 |
| Net new stores opened in Q4 | 722 | Q4 FY2024 |
Comparable sales and customer activity
Store growth did not translate into positive comparable sales for the year. According to the Starbucks Q4 and FY2024 Results, global comparable store sales declined 2% in fiscal 2024. Global comparable transactions declined 4%, while the global average ticket rose 2%.
North America recorded a 2% decline in comparable store sales. Comparable transactions fell 5%, but the average ticket increased 4%. That combination indicates that the reported regional sales change included a higher average transaction value alongside fewer comparable transactions; it does not establish the cause of either movement.
International comparable store sales declined 4%, and the international average ticket declined 4%. China reported an 8% decline in comparable store sales for fiscal 2024. In Q4 FY2024 specifically, China comparable transactions declined 6% and the average ticket declined 8%.
| Comparable-performance measure | Global | North America | China |
|---|---|---|---|
| Comparable store sales | -2% | -2% | -8% for FY2024 |
| Comparable transactions | -4% | -5% | -6% in Q4 FY2024 |
| Average ticket | +2% | +4% | -8% in Q4 FY2024 |
The periods in this table are not identical for every China measure: the China comparable-sales figure covers fiscal 2024, while the China transaction and average-ticket figures cover Q4 FY2024.
Revenue, income, and liquidity
Consolidated net revenues increased 1% to $36.2 billion in fiscal 2024, based on the Starbucks Q4 and FY2024 Results. GAAP operating margin was 15.0%. The Starbucks FY2024 Annual Report reported operating income of $5.4088 billion and net earnings attributable to Starbucks of $3.7609 billion.
Diluted earnings per share were $3.31. Interest income and other, net was $122.8 million, while interest expense was $562.0 million. The effective tax rate including noncontrolling interests was 24.3%.
Starbucks reported $3.8 billion of cash and investments as of September 29, 2024. Approximately $2.1 billion of cash and short-term investments was held in foreign subsidiaries at that date. The company also had a $3.0 billion revolving credit facility, with the ability to increase it by an additional $1.0 billion.
These liquidity figures are balance-sheet or facility measures at a stated date, while revenue, operating income, earnings, and expenses are fiscal-year measures. They should not be treated as interchangeable measures of cash flow.
Regional financial performance
North America generated $27.0095 billion in total net revenues in fiscal 2024, according to the Starbucks FY2024 Annual Report. Company-operated store revenue was $24.2587 billion, and licensed store revenue was $2.7474 billion. Company-operated stores accounted for 89.8% of North America revenues. North America operating income was $5.3553 billion, producing a 19.8% operating margin.
North America store operating expenses were $12.4671 billion, and product and distribution costs were $7.4780 billion. These amounts describe reported regional costs and revenue, not the profitability of an individual store.
International total net revenues were $7.3389 billion. Company-operated store revenue was $5.5072 billion, while licensed store revenue was $1.7577 billion. International operating income was $1.0457 billion, and the operating margin was 14.2%.
The Starbucks FY2024 Annual Report also reported $1.7698 billion in Channel Development net revenues and $925.9 million in Channel Development operating income. Corporate and Other recorded an operating loss of $1.9181 billion. These reporting categories help explain why consolidated performance is not simply the sum of store sales in North America and international markets.
Partners, pay, and training
The Starbucks FY2024 Global Impact Report Data Tables reported an average hourly wage of $18.73 for U.S. hourly partners in FY24. One hundred percent of U.S. hourly partners earned above minimum wage, and the average total compensation package for U.S. hourly partners was $30 per hour.
Starbucks hired 80,865 baristas in the U.S. during FY24. Total employee turnover in the U.S. and Canada was 49%. U.S. retail leadership roles filled from internal partners represented 63% of those roles.
Training and education were also quantified. Barista First 30 training averaged 40 hours per barista in FY24. Starbucks Global Academy Coffee Masters enrollments reached 4,574, with 4,375 completions during FY24 and 11,643 completions since inception.
The Starbucks College Achievement Plan had helped more than 14,000 partners graduate by FY24, while more than 26,000 additional partners were current participants. The data tables recorded 2,699 partners graduating with a college degree during FY24, 14,116 graduates since the program began, and 26,273 participants at fiscal year-end. The “more than” wording in the impact report and the precise data-table counts describe different reporting presentations and should not be combined into one total.
Community investment and food programs
The Starbucks Foundation awarded $21.4 million in total grants in FY24. Disaster philanthropy grants totaled more than $4.2 million, and youth grants totaled $0.8 million. Cumulatively, more than 800,000 youth had been impacted through youth grants, and more than 600,000 women and girls in origin communities had been positively impacted as of fiscal year-end.
Origin grants reached 8 countries in FY24. Starbucks awarded more than $3.3 million in grants to communities outside the U.S. and Canada, while global community impact grants reached 46 international markets. Hyperlocal grants nominated by Starbucks partners exceeded 13,000 cumulatively.
Several store formats and funds were also reported cumulatively at fiscal year-end: 46 Community Stores in the U.S., 50 Community Stores in international markets, 26 Signing Stores globally, and 238 Military Family Stores. The Community Resilience Fund’s cumulative investment reached $45.5 million.
Community participation included 169,712 Community Champions partner volunteer hours in the U.S. and Canada and 335,438 internationally. Starbucks generated $2.2 million in Giving Match donations in FY24.
Food recovery figures covered both the U.S. and Canada. In the U.S., 11.9 million pounds of food were diverted from waste streams and 9.9 million meals were donated. In Canada, 1.4 million pounds were diverted and 1.4 million meals were donated. FoodShare was available in 100% of U.S. company-operated stores and 100% of Canada company-operated stores in FY24.
Environmental and coffee-sourcing metrics
Starbucks reported 9,396 verified Greener Stores globally in FY24, including 7,367 in North America and 2,029 in international regions. Company-owned facilities powered by renewable electricity were 72% globally. The reported figure was 100% in the U.S., Canada, EMEA, and Japan.
Total energy consumption in direct operations was 2,914,476 MWh. Scope 1 greenhouse gas emissions were 395,666 mtCO2e, market-based Scope 2 emissions were 319,058 mtCO2e, and Scope 3 emissions from purchased goods and services were 7,847,195 mtCO2e. Total emissions were 13,254,840 mtCO2e.
Green coffee purchases accounted for 12% of total greenhouse gas emissions, while fluid dairy purchases accounted for 13%. These are reported shares of total FY24 emissions, not carbon-intensity measures per drink or per store.
Total water withdrawal was 500,826 megaliters. Direct operations accounted for 20,281 megaliters, and 37% of direct-operations water withdrawal came from high-risk basins. Water withdrawn from indirect licensed stores was 21,690 megaliters.
Total non-hazardous operational waste was 1,068 thousand metric tons. Of that amount, 681 thousand metric tons went to landfill or incineration and 387 thousand metric tons were diverted from landfill. Recycling diverted 293 thousand metric tons, while composting diverted 88 thousand metric tons. Overall, 36% of total non-hazardous operational waste was diverted.
Customer-facing packaging was 27% reusable, recyclable, or compostable, and 23% was made from recycled materials or biobased plastics. Virgin fossil-fuel-derived materials in customer-facing packaging were reduced 8% from the FY19 baseline in FY24. Beverages served in reusable cups represented 2.6% of beverages sold in global company-operated stores.
Finally, 99.75% of Starbucks coffee was ethically sourced and verified through C.A.F.E. Practices in FY24, according to the Starbucks FY2024 Global Impact Report Data Tables. This figure describes the reported sourcing-verification rate for the fiscal year and does not provide a separate estimate of all coffee consumed outside company-operated stores.