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Starbucks SBUX North America — Store operating expenses

Other segment segments

International
$408.1M-48.5%
Channel Development
$0
Corporate and Other
$0

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Other financials

Income statement

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Revenue$9.3B-1.4%
Operating income$980.4M+4.8%
Net income$1.0B+87.2%
EPS (diluted)$0.91+85.7%

Balance sheet

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Cash & equivalents$3.4B-17.3%
Total debt$22.4B-19.6%
Total equity-$7.7B+0.2%
Total assets$28.3B-15.9%

Cash flow

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Operating cash flow$1.6B+63.9%
CapEx$291.4M-48.6%
Free cash flow$1.4B+211%

Valuation

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Market cap$119.88B+18.5%
Enterprise value$138.87B+11.2%
P/E60.5×+22.0×
P/S3.1×+0.4×

Profitability

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Gross margin72.3%
Operating margin7.8%-3.0pp
Net margin5.2%-2.0pp
FCF margin9.5%

Returns & leverage

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Return on equity136.5%
Debt / equity7.8×
Current ratio0.8×0.0×

Where this comes from

Reported directly by Starbucks in its filing.

Tagged under the XBRL concept sbux:StoreOperatingExpenses.

The source filing: Starbucks’s 10-Q, filed July 29, 2026.

Filed
Jul 29, 2026, 5:17 PM EDT
Fiscal quarter
Q3 FY2026
Calendar quarter
Q2 2026
Accession
0000829224-26-000130
Quarter Ended / June 28, 2026North AmericaInternationalChannel DevelopmentCorporate and OtherTotal
Total net revenues$7,395.1$1,322.6$587.9$17.1$9,322.7
Product and distribution costs1,971.9513.4320.922.42,828.6
Store operating expenses3,789.3408.14,197.4
Other operating expenses56.557.816.01.6131.9
Depreciation and amortization expenses298.333.130.2361.6
General and administrative expenses95.939.10.8463.0598.8
Restructuring and impairments174.341.1(0.2)87.4302.6
Total operating expenses6,386.21,092.6337.5604.68,420.9

Item 1.Financial Statements

FAQ

What is Starbucks's north america — store operating expenses?
Starbucks (SBUX) reported north america — store operating expenses of $3.79B in Q2 2026.
How has Starbucks's north america — store operating expenses changed year-over-year?
Starbucks's north america — store operating expenses increased by 6.7% year-over-year, from $3.55B to $3.79B.
What is the long-term trend for Starbucks's north america — store operating expenses?
Over 2 years (2023 to 2025), Starbucks's north america — store operating expenses has grown at a 8.1% compound annual growth rate (CAGR), from $11.96B to $13.97B.
What does north america — store operating expenses mean?
These represent the recurring costs required to operate physical store locations in North America, including labor, rent, utilities, and store-level maintenance. It is a key measure of the operational efficiency of the brick-and-mortar footprint.

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