Supporting evidence

• LedgerRevenue -1% YoY (Q3 FY2026)
• LedgerMixed quarter based on: Strategic initiatives for growth and efficiency · Maintained guidance despite ongoing changes · Focus on store expansion and uplift · Operational restructuring through role eli…
• GuidanceGuidance maintained

• LedgerRevenue -1% YoY (Q3 FY2026)
• EventGuidance Maintained
• EventStrategic Initiative Focus
• EventOperational Restructuring
• EventThis move transitions Starbucks' company-operated stores in China to a licensed model, aiming for significant expansion to 20,000 locations.
• EventThis partnership is expected to accelerate growth in the China market, leveraging Boyu's local expertise and Starbucks' brand and operational knowledge. It also involves a signific…
• EventExpected to reduce operational costs and streamline non-retail functions, but may impact employee morale.
• InitiativeThe transaction has been finalized.
• InitiativeOngoing, with emphasis on employee actions.
• InitiativeOngoing, tied to customer service and store uplift efforts.
• InitiativeTo be executed over the next 12 months.
• EventExecution risk of 'eliminate approximately 900 current non-retail partner roles' (INITIATIVE)
• EventUncertainty in Starbucks retail operations in China (MARKET)