Starbucks (SBUX) Q1 2025 Earnings Call Transcript

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Starbucks (SBUX 0.39%)
Q1 2025 Earnings Call
Jan 28, 2025, 5:00 p.m. ET

Contents:

• Prepared Remarks
• Questions and Answers
• Call Participants

Prepared Remarks:

Operator

Good afternoon. My name is Diego, and I will be your conference operator today. I would like to welcome everyone to Starbucks’ first quarter fiscal year 2025 conference call. All lines have been placed on mute to prevent any background noise.

After the speakers’ remarks, there will be a question-and-answer session. [Operator instructions] I will now turn the call over to Tiffany Willis, senior vice president of investor relations. Ms. Willis, you may now begin your conference.

Tiffany Willis — Vice President, Investor Relations

Thank you, Diego, and good afternoon, everyone, and thank you for joining us today to discuss Starbucks’ first quarter fiscal year 2025 results. Today’s discussion will be led by Brian Niccol, chairman and chief executive officer; and Rachel Ruggeri, executive vice president and chief financial officer. This conference call will include forward-looking statements, which are subject to various risks and uncertainties that could cause our actual results to differ from these statements. Any such statements should be considered in conjunction with cautionary statements in our earnings release and risk factors discussed in our filings with the SEC, including our latest annual report on Form 10-K and quarterly report on Form 10-Q.

Starbucks assumes no obligation to update any of these forward-looking statements or information. Revenue, operating margin, and EPS growth metrics on today’s call are measured in constant currency and represent non-GAAP measures. Please refer to the earnings release and our website at investor.starbucks.com to find reconciliations of these non-GAAP measures to their corresponding GAAP measures. This conference call is being webcast, and an archive of the webcast will be available on our website through Friday, March 14th, 2025.

Also, for your calendar planning purposes, please note that our second quarter fiscal year 2025 earnings conference call has been tentatively scheduled for Tuesday, April 29th, 2025. And with that, I’ll now turn the call over to Brian.

Brian Niccol — Chairman and Chief Executive Officer

Good afternoon, and thank you for joining today. Over the past four months, we’ve been focused on getting Back to Starbucks and those things that have always set us apart, a welcoming coffeehouse where people gather and where we serve the finest coffee handcrafted by our skilled baristas. We believe it’s the fundamental change in strategy we needed to solve our underlying issues, restore confidence in our brand, and return the business to sustainable long-term growth. While we’re only one quarter into our turnaround, we’re moving quickly to act on the Back to Starbucks efforts we outlined on our last call, and to date, we’ve seen a positive response.