Starbucks Corporation (SBUX)
Recap: Q2 FY26
The Niccol Turnaround Just Crossed From Thesis-on-Trial to Base Case — Comp +6.2%, Margin Expansion Arrives Early, FY26 Guide Raised
Flashcap: Q2 FY26
The Trough Quarter Was the Breakout Quarter — Global Comp +6.2%, US Transactions +4.4%, and FY26 EPS Guide Raised
Recap: Q1 FY26
US Comp Accelerated to +4% and the China Deal Landed — The Turnaround Has Officially Crossed From Hope to Proof
Recap: Q4 FY25
The Inflection Has Arrived — Global Comp Positive for First Time in Seven Quarters and US Sales Turned in September
Recap: Q3 FY25
China Comp Turned Positive and 20+ Bidders Are Lining Up for the JV — But the P&L Still Looks Worse Before It Gets Better
Recap: Q2 FY25
Niccol Asks Investors to Stop Watching EPS — Five Quarters of Negative US Comps Say They Should Watch Anyway