Starbucks Coffee Company on Thursday provided an update on store closures, as well as fresh plans for future store growth, as it reported earnings for its Q4 and full fiscal year 2026. Here’s what to know:

The Seattle-based coffee company reported adjusted earnings of 80 cents per share, a 54% increase over the prior year, beating analyst expectations. 

Consolidated net revenues decreased about 4% to $9.1 billion. Starbucks says the decline was largely driven by the conversion of its China retail operations to a licensed joint venture.

For the full fiscal year 2026, Starbucks reported net revenue of $37.9 billion, an increase of 2%.

Shares of Starbucks Corporation (Nasdaq: SBUX) were down 2% in early trading on Friday along with much of the market. However, the stock is up more than 23% year-to-date as investors appear to have warmed up to CEO Brian Niccol’s turnaround plans.

In Q4, Starbucks closed around 250 North American stores, 212 of which were in the United States, as part of its Back to Starbucks strategy.

The company has been closing underperforming stores to focus its attention on more profitable locations. Niccol, who formerly led a turnaround at Chipotle Mexican Grill, announced the Back to Starbucks plan on his second day on the job.

Starbucks ended the quarter with 16,781 U.S. coffeehouses, about 40% of its global portfolio of 41,607 locations.

” They expect growth to ramp up from there.

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