Starbucks Reports 4Q Inline, 2015 Guidance Disappoints

Starbucks Corporation SBUX reported financial results Thursday for its 13-week fiscal fourth quarter and 52-week fiscal year ended September 28, 2014.

The company reported a consolidated net revenue increase of 10 percent to a Q4 record $4.2 billion, inline with estimates of $4.23 billion.

Non-GAAP EPS of $0.74, was inline with estimates and grew 23 percent over Q4 FY13 non-GAAP EPS.

Global comparable store sales increased 5 percent, the 19th consecutive quarter of comp growth of 5 percent or greater.

The company reported opening 503 net new stores in the quarter, ending FY14 with 21,366 stores in 65 countries.

The Board of Directors declared a cash dividend of $0.32 per share, an increase of 23 percent.

“Starbucks performance in fiscal 2014 was extraordinary by any metric or comparison,” said Howard Schultz, chairman, president and ceo of Starbucks Coffee Company. “But we cannot be content with the status quo, as consumers continue to demand more and more in terms of convenience and excellence.  You will see us continue to invest where it counts most, in mobile commerce, innovation, in the customer experience and the partners who drive it and in the quality of our coffees.”

For FY 2015 the company forecasted EPS on a non GAAP basis to be in the range of $3.08 to $3.13, below estimates of $3.16.  Q1 EPS on a non-GAAP basis was forecast to be in the range of $0.79 to $0.81, below estimates of $0.83.

Starbucks Corporation traded at $73.93 in the aftermarket, down 4.42 percent