v3.26.1
Segment Reporting
 9 Months Ended
Jun. 28, 2026
Segment Reporting [Abstract]  
Segment Reporting Segment Reporting
We have three reportable operating segments: 1) North America, which is inclusive of the U.S. and Canada; 2) International, which is inclusive of China, Japan, Asia Pacific, Europe, Middle East, Africa, Latin America, and the Caribbean; and 3) Channel Development.
North America and International operations sell coffee and other beverages, complementary food, packaged coffees, single-serve coffee products, and a focused selection of merchandise through company-operated stores and licensed stores. Our North America segment is our most mature business and has achieved significant scale. Certain markets within our International operations are in various stages of development and may require more extensive support, relative to their current levels of revenue and operating income, than our North America operations.
Channel Development revenues include packaged coffee, tea, foodservice products, and ready-to-drink beverage sales to customers outside of our company-operated and licensed stores. Most of our Channel Development revenues are from product sales to, and royalty revenues from, Nestlé through the Global Coffee Alliance.
Our CODM evaluates the performance of our operating segments based primarily on net revenues and operating income, which represents earnings before other income and expenses and income taxes. Financial information and forecasts are reviewed by our CODM at the segment level, and are used to evaluate performance, monitor actual results versus forecasts, and allocate resources for the consolidated entity. Our CODM does not use total assets by segment as a basis for decision making.
The accounting policies of the operating segments are the same as those described in Note 1, Summary of Significant Accounting Policies and Estimates in Part II, Item 8 of our most recently filed 10-K.
Consolidated revenue mix by product type (in millions):
Quarter EndedThree Quarters Ended
Jun 28, 2026Jun 29, 2025Jun 28, 2026Jun 29, 2025
Beverage (1)
$5,444.0 58 %$5,752.0 61 %$17,047.5 59 %$16,723.8 61 %
Food (2)
1,863.3 20 %1,787.5 19 %5,575.6 19 %5,269.9 19 %
Other (3)
2,015.4 22 %1,916.5 20 %6,146.3 22 %5,621.7 20 %
Total$9,322.7 100 %$9,456.0 100 %$28,769.3 100 %$27,615.4 100 %
(1)“Beverage” represents sales within our company-operated stores.
(2)“Food” represents sales within our company-operated stores.
(3)“Other” primarily consists of packaged and single-serve coffees and teas, royalty and licensing revenues, beverage-related ingredients, serveware, and ready to drink beverages, among other items.

Information by geographic area (in millions):
Quarter Ended
Three Quarters Ended
Jun 28, 2026Jun 29, 2025Jun 28, 2026Jun 29, 2025
Net revenues (1):
United States$7,381.5 $6,860.1 $21,555.8 $20,244.9 
China
68.7 807.2 1,713.5 2,316.1 
Other countries1,872.5 1,788.7 5,500.0 5,054.4 
Total$9,322.7 $9,456.0 $28,769.3 $27,615.4 
Jun 28, 2026Sep 28, 2025
Long-lived assets:
United States$15,348.1 $15,952.7 
China (2)
172.6 4,276.8 
Other countries5,239.8 4,407.9 
Total$20,760.5 $24,637.4 
(1) Includes Channel Development segment and other net revenues.
(2) The fiscal year 2026 balance excludes Starbucks retail operations in China that were divested during the third quarter of fiscal 2026.
No customer accounts for 10% or more of our revenues. Revenues are shown based on the geographic location of our customers. Revenues from countries other than the U.S. and China consist primarily of revenues from Japan, Canada, and the U.K., which together account for approximately 72% of net revenues from other countries for the quarter and three quarters ended June 28, 2026, and 73% for the quarter and three quarters ended June 29, 2025, respectively.
The financial information below is presented for our reportable operating segments and Corporate and Other (in millions):

Quarter Ended
North AmericaInternational
Channel
Development
Corporate and Other

Total
 June 28, 2026
Total net revenues$7,395.1 $1,322.6 $587.9 $17.1 $9,322.7 
Product and distribution costs1,971.9 513.4 320.9 22.4 2,828.6 
Store operating expenses
3,789.3 408.1 — — 4,197.4 
Other operating expenses56.5 57.8 16.0 1.6 131.9 
Depreciation and amortization expenses298.3 33.1 — 30.2 361.6 
General and administrative expenses95.9 39.1 0.8 463.0 598.8 
Restructuring and impairments174.3 41.1 (0.2)87.4 302.6 
Total operating expenses
6,386.2 1,092.6 337.5 604.6 8,420.9 
Income from equity method investees— 22.8 55.8 — 78.6 
Operating income/(loss)$1,008.9 $252.8 $306.2 $(587.5)$980.4 
Net gain resulting from divestiture of certain operations536.3 
Interest income and other, net37.2 
Interest expense(134.6)
Earnings before income taxes$1,419.3 
Quarter Ended
North AmericaInternational
Channel
Development
Corporate and Other

Total
 June 29, 2025
Total net revenues$6,927.0 $2,010.7 $483.8 $34.5 $9,456.0 
Product and distribution costs1,909.6 701.7 306.8 37.4 2,955.5 
Store operating expenses3,552.4 792.4 — — 4,344.8 
Other operating expenses69.7 66.2 15.1 0.6 151.6 
Depreciation and amortization expenses303.5 91.4 — 32.7 427.6 
General and administrative expenses170.0 81.9 1.7 423.6 677.2 
Restructuring and impairments
3.1 3.1 0.2 14.4 20.8 
Total operating expenses
6,008.3 1,736.7 323.8 508.7 8,577.5 
Income from equity method investees— (1.3)58.4 — 57.1 
Operating income/(loss)$918.7 $272.7 $218.4 $(474.2)$935.6 
Interest income and other, net25.6 
Interest expense(142.3)
Earnings before income taxes$818.9 
Three Quarters Ended
North AmericaInternational
Channel
Development
Corporate and Other

Total
 June 28, 2026
Total net revenues$21,569.4 $5,438.6 $1,678.4 $82.9 $28,769.3 
Product and distribution costs6,176.2 2,011.3 1,043.9 79.3 9,310.7 
Store operating expenses
11,266.3 1,892.0 — — 13,158.3 
Other operating expenses172.4 170.0 47.5 3.7 393.6 
Depreciation and amortization expenses896.6 135.8 — 93.4 1,125.8 
General and administrative expenses282.5 224.1 2.8 1,346.3 1,855.7 
Restructuring and impairments219.6 93.4 — 102.8 415.8 
Total operating expenses
19,013.6 4,526.6 1,094.2 1,625.5 26,259.9 
Income from equity method investees— 22.2 167.7 — 189.9 
Operating income/(loss)$2,555.8 $934.2 $751.9 $(1,542.6)$2,699.3 
Net gain resulting from divestiture of certain operations536.3 
Interest income and other, net87.3 
Interest expense(410.6)
Earnings before income taxes$2,912.3 
Three Quarters Ended
North AmericaInternational
Channel
Development
Corporate and Other

Total
 June 29, 2025
Total net revenues$20,471.7 $5,749.1 $1,329.0 $65.6 $27,615.4 
Product and distribution costs5,684.3 2,008.4 824.4 69.7 8,586.8 
Store operating expenses10,442.5 2,281.4 — — 12,723.9 
Other operating expenses216.6 181.8 43.7 0.7 442.8 
Depreciation and amortization expenses891.6 269.5 — 92.9 1,254.0 
General and administrative expenses363.9 259.1 4.8 1,347.4 1,975.2 
Restructuring and impairments
24.5 19.9 1.1 91.5 137.0 
Total operating expenses
17,623.4 5,020.1 874.0 1,602.2 25,119.7 
Income from equity method investees— (2.1)164.8 — 162.7 
Operating income/(loss)$2,848.3 $726.9 $619.8 $(1,536.6)$2,658.4 
Interest income and other, net$81.8 
Interest expense(396.8)
Earnings before income taxes$2,343.4