STARBUCKS CORP - FORM 8-K - EX-99.1 - EXHIBIT 99.1 - November 13, 2013

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Exhibit 99.1

STARBUCKS CORPORATION
CONSOLIDATED STATEMENTS OF EARNINGS/(LOSS)
(unaudited, in millions, except per share data)
 
 
Quarter Ended
 
Quarter Ended
 
 
Sep 29,
2013
 
Sep 30,
2012
 
%
Change
 
Sep 29,
2013
 
Sep 30,
2012
 
 
 
 
 
 
 
 
 
As a % of total
net revenues
 
Net revenues:
 
 
 
 
 
 
 
 
 
 
Company-operated stores
$
3,009.6

 
$
2,665.9

 
12.9
 %
 
79.3
 %
 
79.2
 %
 
Licensed stores
346.3

 
305.3

 
13.4

 
9.1

 
9.1

 
CPG, foodservice and other
439.1

 
393.0

 
11.7

 
11.6

 
11.7

 
Total net revenues
3,795.0

 
3,364.2

 
12.8

 
100.0

 
100.0

 
Cost of sales including occupancy costs
1,633.7

 
1,459.2

 
12.0

 
43.0

 
43.4

 
Store operating expenses
1,073.9

 
989.9

 
8.5

 
28.3

 
29.4

 
Other operating expenses
107.3

 
111.9

 
(4.1
)
 
2.8

 
3.3

 
Depreciation and amortization expenses
166.1

 
141.7

 
17.2

 
4.4

 
4.2

 
General and administrative expenses
226.1

 
203.8

 
10.9

 
6.0

 
6.1

 
Litigation charge
2,784.1

 
—

 
nm

 
73.4

 
—

 
Total operating expenses
5,991.2

 
2,906.5

 
106.1

 
157.9

 
86.4

 
Income from equity investees
81.0

 
61.9

 
30.9

 
2.1

 
1.8

 
Operating income/(loss)
(2,115.2
)
 
519.6

 
nm

 
(55.7
)
 
15.4

 
Interest income and other, net
72.1

 
26.3

 
174.1

 
1.9

 
0.8

 
Interest expense
(9.1
)
 
(6.4
)
 
42.2

 
(0.2
)
 
(0.2
)
 
Earnings/(loss) before income taxes
(2,052.2
)
 
539.5

 
nm

 
(54.1
)
 
16.0

 
Income taxes
(820.1
)
 
180.2

 
nm

 
(21.6
)
 
5.4

 
Net earnings/(loss) including noncontrolling interest
(1,232.1
)
 
359.3

 
nm

 
(32.5
)
 
10.7

 
Net earnings attributable to noncontrolling interest
(0.1
)
 
0.3

 
nm

 
—

 
—

 
Net earnings/(loss) attributable to Starbucks
$
(1,232.0
)
 
$
359.0

 
nm

 
(32.5
)%
 
10.7
 %
 
 
 
 
 
 
 
 
 
 
 
 
Net earnings/(loss) per common share - diluted
$
(1.64
)
 
$
0.46

 
nm

 
 
 
 
 
Weighted avg. shares outstanding - diluted
752.2

 
773.5

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash dividends declared per share
$
0.26

 
$
0.21

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Supplemental Ratios:
 
 
 
 
 
 
 
 
 
 
Store operating expenses as a percentage of company-operated stores revenue
 
 
 
 
 
 
35.7
 %
 
37.1
 %
 
Effective tax rate including noncontrolling interest
 
 
 
 
 
 
40.0
 %
 
33.4
 %











STARBUCKS CORPORATION
CONSOLIDATED STATEMENTS OF EARNINGS
(unaudited, in millions, except per share data)
 
 
Year Ended
 
Year Ended
 
 
Sep 29,
2013
 
Sep 30,
2012
 
%
Change
 
Sep 29,
2013
 
Sep 30,
2012
 
 
 
 
 
 
 
 
 
As a % of total
net revenues
 
Net revenues:
 
 
 
 
 
 
 
 
 
 
Company-operated stores
$
11,793.2

 
$
10,534.5

 
11.9
 %
 
79.2
 %
 
79.2
 %
 
Licensed stores
1,360.5

 
1,210.3

 
12.4

 
9.1

 
9.1

 
CPG, foodservice and other
1,738.5

 
1,554.7

 
11.8

 
11.7

 
11.7

 
Total net revenues
14,892.2

 
13,299.5

 
12.0

 
100.0

 
100.0

 
Cost of sales including occupancy costs
6,382.3

 
5,813.3

 
9.8

 
42.9

 
43.7

 
Store operating expenses
4,286.1

 
3,918.1

 
9.4

 
28.8

 
29.5

 
Other operating expenses
457.2

 
429.9

 
6.4

 
3.1

 
3.2

 
Depreciation and amortization expenses
621.4

 
550.3

 
12.9

 
4.2

 
4.1

 
General and administrative expenses
937.9

 
801.2

 
17.1

 
6.3

 
6.0

 
Litigation charge
2,784.1

 
—

 
nm

 
18.7

 
—

 
Total operating expenses
15,469.0

 
11,512.8

 
34.4

 
103.9

 
86.6

 
Income from equity investees
251.4

 
210.7

 
19.3

 
1.7

 
1.6

 
Operating income/(loss)
(325.4
)
 
1,997.4

 
nm

 
(2.2
)
 
15.0

 
Interest income and other, net
123.6

 
94.4

 
30.9

 
0.8

 
0.7

 
Interest expense
(28.1
)
 
(32.7
)
 
(14.1
)
 
(0.2
)
 
(0.2
)
 
Earnings/(loss) before income taxes
(229.9
)
 
2,059.1

 
nm

 
(1.5
)
 
15.5

 
Income taxes
(238.7
)
 
674.4

 
nm

 
(1.6
)
 
5.1

 
Net earnings including noncontrolling interest
8.8

 
1,384.7

 
(99.4
)
 
0.1

 
10.4

 
Net earnings attributable to noncontrolling interest
0.5

 
0.9

 
(44.4
)
 
—

 
—

 
Net earnings attributable to Starbucks
$
8.3

 
$
1,383.8

 
(99.4
)%
 
0.1
 %
 
10.4
 %
 
 
 
 
 
 
 
 
 
 
 
 
Net earnings per common share - diluted
$
0.01

 
$
1.79

 
(99.4
)%
 
 
 
 
 
Weighted avg. shares outstanding - diluted
762.3

 
773.0

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash dividends declared per share
$
0.89

 
$
0.72

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Supplemental Ratios:
 
 
 
 
 
 
 
 
 
 
Store operating expenses as a percentage of company-operated stores revenue
 
 
 
 
 
 
36.3
 %
 
37.2
 %
 
Effective tax rate including noncontrolling interest
 
 
 
 
 
 
103.8
 %
 
32.8
 %





STARBUCKS CORP Reports