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Embracing Our Heritage and Values While Aiming Higher Fiscal 2012 Financial Highlights Net Revenues (in Billions) Comparable Store Sales Growth $13.3 (Company-Operated Stores Open 13 Months or Longer) $11.7 $10.7 8% $10.4 7%* 7% $9.8 –3% 1971 Seattle –6% 2008 2009 2010 2011 2012 2008 2009 2010 2011 2012 Operating Income (in Millions) Operating Margin GAAP Non-GAAP GAAP Non-GAAP 14.8% 15.0% $1,997 14.5%** 13.3% 13.5%** $1,728 $1,698** The artwork on the cover is inspired by the Siren from $1,419 $1,414** 9.2%** our original store's logo in Seattle's Pike Place Market. Embracing our heritage and values 8.1%** ** $894** The second illustration comes from the interior of our $843 5.7% 4.9% $562 first store in Mumbai, India. These drawings evoke the while aiming higher than ever. $504 Starbucks Experience, treasured in Seattle since 1971 and now around the world. Starbucks Corporation Fiscal 2012 Annual Report 2008 2009 2010 2011 2012 2008 2009 2010 2011 2012 Earnings per Diluted Share Operating Cash Flow & Capital Expenditures (in Millions) GAAP EPS Non-GAAP EPS Cash from Operations Capital Expenditures $1.79 $1,705 $1,750 $1,612 $1.62 $1.52*** $1,389 $1,259 $1.24 $1.23** $985 $856 $0.80** 2012 Mumbai $0.71** $0.52 $532 $0.43 $446 $441 2008 2009 2010 2011 2012 2008 2009 2010 2011 2012 * 2010 comparable store sales growth was calculated excluding the additional week in September 2010. ** Non-GAAP measure. Excludes $339, $332 and $53 million in pretax restructuring and transformation charges in 2008, 2009 and 2010, respectively. Also excludes a benefit from the 53rd week in 2010 of approximately $59 million and a gain on the sale of properties in 2011 of $30 million. © 2013 STARBUCKS CORPORATION. ALL RIGHTS RESERVED. SJBQ413oth-00975 *** 2011 excludes $0.10 of gain resulting from the acquisition of the company’s joint venture operations in Switzerland and Austria and the gain on the sale of properties. WorldReginfo - 87d14173-fa19-4ed7-b12b-96907af51c14 Fiscal 2012 Financial Highlights Net Revenues (in Billions) Comparable Store Sales Growth $13.3 (Company-Operated Stores Open 13 Months or Longer) $11.7 $10.7 8% $10.4 7%* 7% $9.8 –3% 1971 Seattle –6% 2008 2009 2010 2011 2012 2008 2009 2010 2011 2012 Operating Income (in Millions) Operating Margin GAAP Non-GAAP GAAP Non-GAAP 14.8% 15.0% $1,997 14.5%** 13.3% 13.5%** $1,728 $1,698** The artwork on the cover is inspired by the Siren from $1,419 $1,414** 9.2%** our original store's logo in Seattle's Pike Place Market. Embracing our heritage and values 8.1%** ** $894** The second illustration comes from the interior of our $843 5.7% 4.9% $562 first store in Mumbai, India. These drawings evoke the while aiming higher than ever. $504 Starbucks Experience, treasured in Seattle since 1971 and now around the world. Starbucks Corporation Fiscal 2012 Annual Report 2008 2009 2010 2011 2012 2008 2009 2010 2011 2012 Earnings per Diluted Share Operating Cash Flow & Capital Expenditures (in Millions) GAAP EPS Non-GAAP EPS Cash from Operations Capital Expenditures $1.79 $1,705 $1,750 $1,612 $1.62 $1.52*** $1,389 $1,259 $1.24 $1.23** $985 $856 $0.80** 2012 Mumbai $0.71** $0.52 $532 $0.43 $446 $441 2008 2009 2010 2011 2012 2008 2009 2010 2011 2012 * 2010 comparable store sales growth was calculated excluding the additional week in September 2010. ** Non-GAAP measure. Excludes $339, $332 and $53 million in pretax restructuring and transformation charges in 2008, 2009 and 2010, respectively. Also excludes a benefit from the 53rd week in 2010 of approximately $59 million and a gain on the sale of properties in 2011 of $30 million. © 2013 STARBUCKS CORPORATION. ALL RIGHTS RESERVED. SJBQ413oth-00975 *** 2011 excludes $0.10 of gain resulting from the acquisition of the company’s joint venture operations in Switzerland and Austria and the gain on the sale of properties. WorldReginfo - 87d14173-fa19-4ed7-b12b-96907af51c14 we will ceaselessly honor our values. I firmly believe that our loyalty and Card program, and mobile technologies. non-coffee beverage categories. With La Boulange® Market Information Board of Directors the ability to adhere to these attributes is what defines It is hard to overstate the collective power of Starbucks bakery products, we have begun the transformation of the the most enduring organizations of our time, and as I 54 million Facebook fans, 3 million Twitter followers, selection, taste, and quality of the fresh food in our stores. and Senior Leadership Team share them with you in the context of highlights from 14.6 million loyalty program members, and 7 million users Second, adding Evolution Fresh to our brand portfolio Starbucks past year, I think you will agree that they of our mobile applications, who pay this way 2 million fulfills our commitment to health and wellness, and not just are key to our ongoing success. times each week. We also gave our customers another by bringing high-quality premium juices to our customers Starbucks common stock is traded on the NASDAQ Global Board of Directors quick, mobile way to pay by forging a partnership with but by extending the Evolution Fresh brand to an exciting Select Market (“NASDAQ”), under the symbol SBUX. The Howard Schultz Staying True to Our Core Purpose ™ Square. We will not stop innovating on this front, where new store concept. With Evolution Fresh juice products following table shows the quarterly high and low sale Starbucks Corporation, chairman, president and chief executive officer ® and Capabilities as We Grow our best-in-class digital reach, and more notably the currently in more than 2,200 Starbucks stores as well as prices per share of Starbucks common stock for each William W. Bradley authentic engagement we ignite daily with millions of 1,500 grocery locations, we are on our way toward quarter during the last two fiscal years and the quarterly Allen & Company LLC, managing director We will always be a coffee company cash dividend declared per share of its common stock consumers online, will continue to drive our core business. nationwide distribution. Robert M. Gates whose core business is to ethically during the periods indicated: Former Secretary of Defense source and roast the highest-quality Coffee and connection will always be the heart of Finally, with the acquisition of the high-end Teavana brand, Cash Dividends Mellody Hobson arabica coffee in the world, as we Starbucks, yet our ability to reinvigorate our business we’ll apply our competencies in retail operations and hot Fiscal 2012 High Low Declared Ariel Investments, LLC, president simultaneously create authentic around that heritage remains an unmatched competitive and cold beverage creation to expand Teavana’s 300-store Fourth Quarter $54.28 $43.04 $0.21 Kevin R. Johnson connections with our customers and the advantage. footprint as we reinvent the tea category, in part by Third Quarter 62.00 51.03 0.17 Juniper Networks, Inc., chief executive officer communities we serve. I assure you we bringing tea bars into Teavana stores and applying Second Quarter 56.55 45.28 0.17 Olden Lee 1971, Innovating with Timely Relevance, are not deviating from this purpose but learnings from our own Tazo brand. Long term, our intent First Quarter 46.50 35.12 0.17 PepsiCo, Inc., retired executive Our first store opens in Seattle's Joshua Cooper Ramo rather enhancing it with extreme diligence. Courage, and Conviction is to significantly grow Teavana’s global store presence, Cash Dividends Pike Place Market Fiscal 2011 High Low Declared Kissinger Associates, Inc., vice chairman transforming tea just as we have transformed coffee. Scaling the Starbucks Experience. Today, 42 years after Last year also saw significant product innovation around Fourth Quarter $42.00 $33.72 $0.17 James G. Shennan, Jr. Dear Shareholders, opening our first store in Seattle, Starbucks operates in our coffee core, most notably in the $8 billion premium Our pace of innovation and creativity is rapid, and I assure Third Quarter 40.26 34.61 0.13 Trinity Ventures, general partner emeritus Clara Shih 61 countries, and we recently had our most successful single-cup category. you that every move is highly strategic and thoughtfully Second Quarter 38.21 30.75 0.13 It is an honor to write you this First Quarter 33.15 25.37 0.13 Hearsay Social, Inc., chief executive officer launch ever, in India. I was in Mumbai when our doors We reached a true milestone with the launch of the executed as we push for relevant, timely, and disciplined Javier G. Teruel year, not only because we have The company’s U.S. Securities and Exchange Commission opened, and I personally witnessed, with our fantastic beautiful Verismo® System, a breakthrough technology reinvention in our stores, in consumer product channels, Colgate-Palmolive Company, retired vice chairman achieved record financial filings may be obtained without charge by accessing the business partner in India, Tata Global Beverages, the ® and beyond. Myron E. Ullman, III performance but because we that heralds the first time customers can make Starbucks Investor Relations section of the company’s website at unabashed affection and demand for Starbucks, a U.S. and International retail chief executive officer (retired) have once again done so by living brewed or latte beverages in their homes. This is only the http://investor.starbucks.com, at http://sec.gov, or by definitive signal that our brand is resonating around Honoring Our Culture’s Values Craig E. Weatherup up to the heritage of our company, beginning as we embark on a multiyear plan to grow the making a request to Investor Relations through the the world.
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