Starbucks has reported attributable net earnings of $558.3m for the third quarter of the fiscal year 2025 (FY25) – a slump of 47% compared to the same period of fiscal 2024.
For the quarter ended 29 June 2025, the coffee giant’s consolidated net revenues grew almost 4% year-on-year to $9.45bn.
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However, it experienced a 2% decline in global comparable store sales, attributed to a 2% drop in comparable transactions.
In North America, comparable store sales fell 2%, driven by a 3% decrease in comparable transactions.
The US market reflected a similar trend, with a 2% decline in comparable store sales and a 4% drop in comparable transactions.
International comparable store sales remained flat, supported by a 1% increase in comparable transactions, while China reported a 2% increase in comparable store sales, driven by a 6% rise in comparable transactions.
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By GlobalDataStarbucks’ operating income for the quarter decreased to $918.7m from $1.4bn in the third quarter of the previous year.
Operating margin contracted to 13.3% from 21% in the previous year, primarily due to deleverage, investments in the “Back to Starbucks” initiative, which included additional labour costs and the leadership experience 2025 programme and inflationary pressures.
In Q3 FY25, Starbucks opened 308 net new stores, bringing its total to 41,097, 53% company-operated and 47% licensed.
Starbucks chairman and CEO Brian Niccol stated: “We’ve fixed a lot and done the hard work on the hard things to build a strong operating foundation, and based on my experience of turnarounds, we are ahead of schedule.
“In 2026, we’ll unleash a wave of innovation that fuels growth, elevates customer service and ensures everyone experiences the very best of Starbucks. We’re building back a better Starbucks experience and a better business.”
