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CLAIM #53042 · Starbucks Corporation (SBUX) · 2023Q3 earnings call · Aug 1, 2023 · due Sep 30, 2023

Now when you think about outside of North America, we'd say we expect our recovery to sustain in China, and that was through the guidance I gave around a low to mid-single-digit comp on a full year basis as well as contribution from International and the momentum we're seeing.

Rachel Ruggeri · CFO

CANNOT_DETERMINE
versus commitment · official band 5 percent
Committed
low to mid-single-digit comp on a full year basis
Reported
comp of 2%

In context

ypart. And that was coupled with an elevated ticket. And that was a combination of not only strategic pricing but a balanced contribution from increased customization as well as record attach. That drove strong growth in the quarter that, I would say, from a revenue standpoint, we have fundamentals from a revenue perspective that are broad. And we would expect that to continue, that momentum to continue as we look at the balance of the year and going on a full year basis. So that will continue to be fueled through innovation as well as through continued growth in our digital customer rewards membership and our increasing capability around convenience, including growth in digital. So we see all of that as signs to help support the 7% to 9% comp range that we've guided on a full year basis. Now when you think about outside of North America, we'd say we expect our recovery to sustain in China, and that was through the guidance I gave around a low to mid-single-digit comp on a full year basis as well as contribution from International and the momentum we're seeing. So we think across the board, the momentum we're seeing, the recovery in China, coupled with the strong performance we're seeing in North America gives us the confidence to be able to maintain the 7% to 9% comp range on a full year basis for North America and then at the high end of the range for total company. Laxman Narasimhan: Sara, to your question about our store network and how we see it, I am not concerned. I mean, I think there's a very small number of stores that you would normally consider, that we would consider in the normal course of business that we would look at and say we may have a challenge with them. But there's nothing in there that concerns me. What I'm looking at more from the standpoint of net store growth are the opportunities we have to further enhance our presenc

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SEC filings for SBUX · Claim quote is verbatim from the 2023Q3 earnings call.