Starbucks Corporation (SBUX) Stock: Q3 Comparable Sales Rise 7.9% as North America Revenue Reaches $7.4 Billion

TLDR

Table of Contents

Starbucks global comparable sales rose 7.9% as customer traffic strengthened.
North America revenue climbed 7% to $7.4 billion on stronger overall store demand.
GAAP earnings per share jumped 86% to $0.91 during the fiscal third quarter.
International margins widened sharply despite lower revenue after the China deal.
SBUX gained 6.83% after hours as stronger sales and margins lifted sentiment.

Starbucks (SBUX) shares reported stronger comparable sales and earnings for its fiscal third quarter ended June 28, 2026. SBUX closed at $104.14, up 1.01%, then surged 6.83% after hours to $111.25. Improved traffic, higher customer spending, and wider margins supported the post-market advance.

Starbucks Corporation, SBUX

Global Comparable Sales Rise 7.9%

Global comparable store sales increased 7.9% during Starbucks’ fiscal third quarter. Comparable transactions rose 4.2%, while average ticket increased 3.5%. Therefore, the company recorded balanced growth from customer visits and spending across major markets.

North America comparable sales increased 8.1% during the quarter. Transactions climbed 4.5%, while average ticket rose 3.5%. United States comparable sales advanced 7.9% on higher traffic and spending.

International comparable sales increased 5.7% from the previous year. Transactions rose 2.6%, while average ticket increased 3.1%. Starbucks also opened 175 net new stores and ended the quarter with 41,304 locations worldwide.

North America Revenue Reaches $7.4 Billion

North America revenue increased 7% to $7.4 billion during the quarter. Higher company-operated store sales supported the increase across delivery, food, and customized beverages. Those gains reflected stronger customer demand and improved store activity throughout the quarter.

North America operating income increased 10% to $1.0 billion. Operating margin expanded 30 basis points to 13.6% from 13.3% one year earlier. Sales leverage and lower inflation helped offset labor spending and restructuring costs.

The company ended the quarter with 18,371 North American stores. That total fell 2% from the previous year after store closures and portfolio adjustments. United States stores represented 41% of Starbucks’ global portfolio, with 16,933 locations.

Earnings and Margins Strengthen

Consolidated net revenue decreased 1% to $9.3 billion, but GAAP operating margin expanded 60 basis points to 10.5%. Meanwhile, non-GAAP operating margin increased 430 basis points to 14.4%. Lower inflation, sales leverage, and tariff refunds supported the stronger profitability.

GAAP earnings per share rose 86% to $0.91, while non-GAAP earnings increased 70% to $0.85. Starbucks also used China sale proceeds to repurchase about $1.3 billion of outstanding notes. The licensed joint venture model reduced international revenue 34% but expanded the segment’s margin by 550 basis points.

Channel Development revenue increased 22% to $587.9 million, while operating income rose 40% to $306.2 million. The segment’s operating margin expanded 700 basis points, supported by alliance growth and tariff refunds. Starbucks continues its Back to Starbucks plan, targeting stronger service, store execution, customer connection, and long-term value.

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