Starbucks fiscal Q4 revenue down 8.1% from a year ago

On Oct 30, Starbucks released its fourth quarter and full fiscal year 2020 results, showing that the company's full-year revenue was $23.518 billion, down 11.3% year-over-year. Of this, revenue for the fourth fiscal quarter was $6.203 billion, down 8.1 percent year-over-year.

Fiscal 2020 full-year net income was $923 million, down 74.2 percent year-over-year, according to the earnings report. Among them, fourth-quarter net profit was $393 million, down 51.1 percent from $803 million in the same period last year. In terms of stores, 480 new stores were opened in the fourth quarter, including 259 new stores in China. There are now 32,660 stores worldwide, of which 51% are self-operated and 49% are officially licensed.

Starbucks forecasts global sales to grow 18% to 23% in 2021, with an amount between $28 billion and $29 billion, and expects earnings per share to be between 32 cents and 37 cents in the first fiscal quarter and between $2.34 and $2.54 for the full year.