STARBUCKS CORP - FORM 8-K - EX-99.2 - SEGMENT RESULTS - AS RECAST

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8-K - FORM 8-K - STARBUCKS CORP	d276671d8k.htm
EX-99.1 - CONSOLIDATED STATEMENTS OF EARNINGS - AS RECAST - STARBUCKS CORP	d276671dex991.htm

Exhibit 99.2

Segment Results

The tables below present reportable segment results, net of intersegment eliminations, as recast (unaudited, in millions):

Americas


	2011											2010		2009
	Q1		Q2		Q3			Q4		Full Year		Full Year		Full Year
Net revenues:
Company-operated stores		2,148.0		2,002.8		2,102.6			2,112.2		8,365.5		7,865.8		7,239.1
Licensed stores		173.8		156.8		167.5			178.6		676.7		598.3		552.5
CPG, foodservice and other		6.1		5.2		5.8			5.6		22.8		24.4		21.0

Total net revenues		2,327.9		2,164.8		2,275.9			2,296.4		9,065.0		8,488.5		7,812.6
Cost of sales including occupancy costs		875.9		845.6		880.8			910.4		3,512.7		3,258.5		3,234.5
Store operating expenses		795.6		770.1		813.3			805.5		3,184.2		3,083.3		3,016.8
Other operating expenses		17.9		18.7		18.9			20.2		75.8		63.1		73.3
Depreciation and amortization expenses		98.2		98.1		96.3			98.4		390.8		392.9		416.2
General and administrative expenses		13.3		14.1		15.7			17.7		60.8		56.4		46.8
Restructuring charges		0.0		0.0		0.0			0.0		0.0		28.4		254.5

Total operating expenses		1,800.9		1,746.6		1,825.0			1,852.2		7,224.3		6,882.6		7,042.1
Gain on sale of properties		0.0		0.0		0.0			0.0		0.0		0.0		0.0
Income from equity investees		0.0		1.7		(0.0	)		0.0		1.6		0.9		(0.4	)

Operating income		527.0		419.9		450.9			444.2		1,842.3		1,606.8		770.1

EMEA


	2011										2010			2009
	Q1		Q2		Q3		Q4		Full Year		Full Year			Full Year
Net revenues:
Company-operated stores		225.2		208.2		221.7		250.4		905.5		844.9			736.8
Licensed stores		26.5		24.6		29.8		31.3		112.2		81.7			69.3
CPG, foodservice and other		7.4		6.9		6.4		8.4		29.1		26.8			22.6

Total net revenues		259.1		239.7		257.9		290.1		1,046.8		953.4			828.7
Cost of sales including occupancy costs		122.7		121.6		133.1		152.9		530.3		471.8			439.1
Store operating expenses		76.8		77.4		82.1		91.0		327.3		324.5			289.5
Other operating expenses		8.1		7.8		9.0		11.6		36.5		36.1			25.7
Depreciation and amortization expenses		12.2		13.0		12.4		15.8		53.4		50.6			48.2
General and administrative expenses		16.4		14.1		18.2		16.3		65.0		58.2			44.6
Restructuring charges		0.0		0.0		0.0		0.0		0.0		24.5			14.8

Total operating expenses		236.2		233.9		254.8		287.6		1,012.5		965.7			861.9
Gain on sale of properties		0.0		0.0		0.0		0.0		0.0		0.0			0.0
Income from equity investees		2.3		1.9		1.8		0.0		6.0		6.8			(4.9	)

Operating income		25.2		7.7		4.9		2.5		40.3		(5.5	)		(38.1	)

China and Asia Pacific


	2011										2010		2009
	Q1		Q2		Q3		Q4		Full Year		Full Year		Full Year
Net revenues:
Company-operated stores		78.1		82.5		93.0		107.8		361.4		252.8		204.2
Licensed stores		42.6		49.3		45.6		53.4		190.9		154.5		130.4
CPG, foodservice and other		0.0		0.0		0.0		0.0		0.0		0.0		0.1

Total net revenues		120.7		131.8		138.6		161.2		552.3		407.3		334.7
Cost of sales including occupancy costs		59.9		68.7		69.7		83.7		282.0		213.4		179.1
Store operating expenses		15.6		19.7		21.7		26.4		83.4		64.1		52.8
Other operating expenses		7.6		8.3		10.3		9.5		35.7		30.0		26.5
Depreciation and amortization expenses		4.1		4.5		4.6		4.9		18.1		15.8		15.7
General and administrative expenses		5.5		7.7		10.9		8.8		32.9		27.4		19.0
Restructuring charges		0.0		0.0		0.0		0.0		0.0		0.1		3.9

Total operating expenses		92.7		108.9		117.2		133.3		452.1		350.8		297.0
Gain on sale of properties		0.0		0.0		0.0		0.0		0.0		0.0		0.0
Income from equity investees		18.0		20.8		23.5		30.6		92.9		73.1		59.4

Operating income		46.0		43.7		44.9		58.5		193.1		129.6		97.1

CPG


	2011															2010			2009
	Q1			Q2			Q3			Q4			Full Year			Full Year			Full Year
Net revenues:
CPG		115.7			132.8			142.7			162.2			553.2			425.6			393.4
Foodservice		79.5			71.9			75.9			80.0			307.3			281.8			281.0

Total net revenues		195.2			204.7			218.4			242.2			860.5			707.4			674.4
Cost of sales including occupancy costs		106.3			113.6			128.0			139.6			487.5			383.2			347.9
Other operating expenses		30.0			36.6			38.2			47.0			151.8			115.6			93.8
Depreciation and amortization expenses		0.8			0.6			0.5			0.5			2.4			3.7			4.8
General and administrative expenses		1.4			1.3			2.0			1.9			6.6			4.5			4.7
Restructuring charges		0.0			0.0			0.0			0.0			0.0			0.0			1.0

Total operating expenses		138.5			152.1			168.7			189.0			648.3			507.0			452.2
Gain on sale of properties		0.0			0.0			0.0			0.0			0.0			0.0			0.0
Income from equity investees		14.4			14.6			19.6			27.1			75.6			70.6			67.8

Operating income		71.1			67.2			69.3			80.3			287.8			271.0			290.0

*Other*

	2011															2010			2009
	Q1			Q2			Q3			Q4			Full Year			Full Year			Full Year
Net revenues:
Licensed stores		11.3			7.1			5.8			3.5			27.7			40.7			42.8
CPG, foodservice and other		36.6			37.6			35.6			38.5			148.1			110.1			81.4

Total net revenues		47.9			44.7			41.4			42.0			175.8			150.8			124.2
Cost of sales including occupancy costs		27.5			21.7			25.9			27.9			103.0			89.6			71.7
Other operating expenses		26.5			27.5			23.6			15.4			93.0			34.9			31.3
Depreciation and amortization expenses		12.5			12.8			15.7			17.5			58.6			47.4			49.8
General and administrative expenses		148.6			144.4			143.4			147.6			584.0			558.1			470.3
Restructuring charges		0.0			0.0			0.0			0.0			0.0			0.0			58.2

Total operating expenses		215.1			206.4			208.6			208.4			838.6			730.0			681.3
Gain on sale of properties		0.0			0.0			0.0			30.2			30.2			0.0			0.0
Income from equity investees		(0.2	)		(0.7	)		(0.6	)		(1.0	)		(2.4	)		(3.3	)		0.0

Operating income		(167.4	)		(162.4	)		(167.8	)		(137.2	)		(635.0	)		(582.5	)		(557.1	)

STARBUCKS CORP - FORM 8-K - EX-99.2 - SEGMENT RESULTS - AS RECAST - January 12, 2012

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STARBUCKS CORP Reports