STARBUCKS CORPSBUX
STARBUCKS CORP Segments Disclosure
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.
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, who is our , 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.
Consolidated revenue mix by product type (in millions):
| Fiscal Year Ended | Sep 28, 2025 | Sep 29, 2024 | Oct 1, 2023 | ||||||||||||||||||||||||||||||||
Beverage(1) | $ | 22,539.9 | 61 | % | $ | 21,883.9 | 60 | % | $ | 21,684.8 | 60 | % | |||||||||||||||||||||||
Food(2) | 7,049.9 | 19 | % | 6,749.2 | 19 | % | 6,585.1 | 18 | % | ||||||||||||||||||||||||||
Other(3) | 7,594.6 | 20 | % | 7,543.1 | 21 | % | 7,705.7 | 22 | % | ||||||||||||||||||||||||||
| Total | $ | 37,184.4 | 100 | % | $ | 36,176.2 | 100 | % | $ | 35,975.6 | 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, and serveware, among other items.
Information by geographic area (in millions):
| Fiscal Year Ended | Sep 28, 2025 | Sep 29, 2024 | Oct 1, 2023 | ||||||||||||||
Net revenues(1): | |||||||||||||||||
| United States | $ | 27,124.7 | $ | 26,707.4 | $ | 26,398.3 | |||||||||||
| China | 3,160.8 | 3,008.2 | 3,081.5 | ||||||||||||||
| Other countries | 6,898.9 | 6,460.6 | 6,495.8 | ||||||||||||||
| Total | $ | 37,184.4 | $ | 36,176.2 | $ | 35,975.6 | |||||||||||
| Sep 28, 2025 | Sep 29, 2024 | ||||||||||||||||
| Long-lived assets: | |||||||||||||||||
| United States | $ | 15,952.7 | $ | 15,878.4 | |||||||||||||
| China | 4,276.8 | 4,514.2 | |||||||||||||||
| Other countries | 4,407.9 | 4,099.3 | |||||||||||||||
| Total | $ | 24,637.4 | $ | 24,491.9 | |||||||||||||
(1)Includes Channel Development segment and other net revenues.
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 73%, 72%, and 71% of net revenues from other countries for fiscal years 2025, 2024, and 2023, respectively.
The financial information below is presented for our reportable operating segments and Corporate and Other for the fiscal years ended September 28, 2025, September 29, 2024, and October 1, 2023.
(in millions) | North America | International | Channel Development | Corporate and Other | Total | ||||||||||||||||||||||||
| Fiscal 2025 | |||||||||||||||||||||||||||||
| Total net revenues | $ | 27,373.1 | $ | 7,819.9 | $ | 1,871.7 | $ | 119.7 | $ | 37,184.4 | |||||||||||||||||||
| Product and distribution costs | 7,628.7 | 2,749.8 | 1,168.3 | 111.4 | 11,658.2 | ||||||||||||||||||||||||
Store operating expenses | 13,973.3 | 3,085.6 | — | — | 17,058.9 | ||||||||||||||||||||||||
| Other operating expenses | 281.6 | 242.0 | 60.2 | 0.8 | 584.6 | ||||||||||||||||||||||||
| Depreciation and amortization expenses | 1,196.3 | 363.9 | — | 124.5 | 1,684.7 | ||||||||||||||||||||||||
| General and administrative expenses | 483.3 | 344.3 | 5.8 | 1,783.8 | 2,617.2 | ||||||||||||||||||||||||
| Restructuring and impairments | 653.2 | 82.5 | 1.9 | 154.4 | 892.0 | ||||||||||||||||||||||||
Total operating expenses | 24,216.4 | 6,868.1 | 1,236.2 | 2,174.9 | 34,495.6 | ||||||||||||||||||||||||
| Income from equity method investees | — | (1.8) | 249.6 | — | 247.8 | ||||||||||||||||||||||||
| Operating income/(loss) | $ | 3,156.7 | $ | 950.0 | $ | 885.1 | $ | (2,055.2) | $ | 2,936.6 | |||||||||||||||||||
| Interest income and other, net | 113.3 | ||||||||||||||||||||||||||||
| Interest expense | (542.6) | ||||||||||||||||||||||||||||
| Earnings before income taxes | $ | 2,507.3 | |||||||||||||||||||||||||||
(in millions) | North America | International | Channel Development | Corporate and Other | Total | ||||||||||||||||||||||||
| Fiscal 2024 | |||||||||||||||||||||||||||||
| Total net revenues | $ | 27,009.5 | $ | 7,338.9 | $ | 1,769.8 | $ | 58.0 | $ | 36,176.2 | |||||||||||||||||||
| Product and distribution costs | 7,478.0 | 2,575.2 | 1,075.4 | 52.0 | 11,180.6 | ||||||||||||||||||||||||
| Store operating expenses | 12,467.1 | 2,819.4 | — | — | 15,286.5 | ||||||||||||||||||||||||
| Other operating expenses | 280.9 | 225.1 | 58.4 | 1.2 | 565.6 | ||||||||||||||||||||||||
| Depreciation and amortization expenses | 1,052.4 | 338.3 | — | 121.9 | 1,512.6 | ||||||||||||||||||||||||
| General and administrative expenses | 375.8 | 338.8 | 7.7 | 1,801.0 | 2,523.3 | ||||||||||||||||||||||||
Total operating expenses | 21,654.2 | 6,296.8 | 1,141.5 | 1,976.1 | 31,068.6 | ||||||||||||||||||||||||
| Income from equity method investees | — | 3.6 | 297.6 | — | 301.2 | ||||||||||||||||||||||||
| Operating income/(loss) | $ | 5,355.3 | $ | 1,045.7 | $ | 925.9 | $ | (1,918.1) | $ | 5,408.8 | |||||||||||||||||||
| Interest income and other, net | 122.8 | ||||||||||||||||||||||||||||
| Interest expense | (562.0) | ||||||||||||||||||||||||||||
| Earnings before income taxes | $ | 4,969.6 | |||||||||||||||||||||||||||
(in millions) | North America | International | Channel Development | Corporate and Other | Total | ||||||||||||||||||||||||
| Fiscal 2023 | |||||||||||||||||||||||||||||
| Total net revenues | $ | 26,569.6 | $ | 7,487.6 | $ | 1,893.8 | $ | 24.6 | $ | 35,975.6 | |||||||||||||||||||
| Product and distribution costs | 7,530.4 | 2,608.4 | 1,250.1 | 20.2 | 11,409.1 | ||||||||||||||||||||||||
| Store operating expenses | 11,959.2 | 2,761.1 | — | — | 14,720.3 | ||||||||||||||||||||||||
| Other operating expenses | 263.8 | 219.0 | 54.6 | 2.0 | 539.4 | ||||||||||||||||||||||||
| Depreciation and amortization expenses | 910.1 | 335.1 | 0.1 | 117.3 | 1,362.6 | ||||||||||||||||||||||||
| General and administrative expenses | 389.7 | 335.8 | 8.4 | 1,707.4 | 2,441.3 | ||||||||||||||||||||||||
| Restructuring and impairments | 20.7 | — | — | 1.1 | 21.8 | ||||||||||||||||||||||||
Total operating expenses | 21,073.9 | 6,259.4 | 1,313.2 | 1,848.0 | 30,494.5 | ||||||||||||||||||||||||
| Income from equity method investees | — | 2.7 | 295.7 | — | 298.4 | ||||||||||||||||||||||||
Other segment items(1) | — | — | 91.3 | — | 91.3 | ||||||||||||||||||||||||
| Operating income/(loss) | $ | 5,495.7 | $ | 1,230.9 | $ | 967.6 | $ | (1,823.4) | $ | 5,870.8 | |||||||||||||||||||
| Interest income and other, net | 81.2 | ||||||||||||||||||||||||||||
| Interest expense | (550.1) | ||||||||||||||||||||||||||||
| Earnings before income taxes | $ | 5,401.9 | |||||||||||||||||||||||||||
(1) Includes gain from sale of assets.
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Historical Timeline
| Fiscal Year | Filed | |
|---|---|---|
| 2025 | Nov 14, 2025 | Showing above |
| 2024 | Nov 20, 2024 | |
| 2023 | Nov 17, 2023 | |
| 2022 | Nov 18, 2022 | |
| 2021 | Nov 19, 2021 | |
| 2020 | Nov 12, 2020 | |
| 2019 | Nov 15, 2019 | |
| 2018 | Nov 16, 2018 | |
| 2017 | Nov 17, 2017 | |
| 2016 | Nov 18, 2016 | |
| 2015 | Nov 12, 2015 | |
About Segments Disclosures
Segment disclosures break a company into its reportable operating units, revealing revenue, profit, and asset allocation that consolidated financial statements obscure. Under ASC 280, segments must match how the chief operating decision maker views the business, providing a window into internal management structure and resource allocation priorities.
Key signals: compare segment margins to identify which units drive profitability and which destroy value. Watch for changes in the number of reportable segments — segment aggregation or disaggregation often coincides with strategic shifts or attempts to obscure declining performance. Intersegment elimination patterns reveal internal pricing practices. The reconciliation between segment totals and consolidated figures exposes corporate overhead allocation and unallocated items. Geographic revenue concentration highlights regulatory and currency exposure. Compare segment-level capital expenditure against segment revenue to assess where management is investing for future growth versus harvesting existing assets.