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Starbucks: FY20 Outlook Unchanged Excl. Impact Of Coronavirus - Quick Facts

Starbucks Corp. (SBUX) said the company will update its fiscal 2020 guidance when it can reasonably estimate the impact of the coronavirus. The company has closed more than half of its stores in China. Starbucks expects these circumstances to materially impact its International segment and consolidated results for the second quarter and fiscal 2020.

For the first-quarter, non-GAAP earnings per share was $0.79, up 5% over the prior year. Excluding an 11% headwind from income tax rate favorability related to fiscal 2019, non-GAAP EPS increased 16%, for the quarter.

First-quarter consolidated net revenues were $7.1 billion grew 7% from prior year. Revenues grew 9%, adjusted for unfavorable impacts of approximately 2% from Streamline-driven activities Streamline-driven activities.

Global comparable store sales were up 5%, driven by a 3% increase in average ticket and a 2% increase in comparable transactions. Americas comparable store sales were up 6%; and U.S. comparable store sales were up 6%, for the quarter.

The company opened 539 net new stores in the first-quarter, yielding 31,795 stores at the end of the quarter, a 6% increase over the prior year.

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