Starbucks Corporation Reports Unaudited Consolidated Earnings Results for the First Quarter Ended December 28, 2014; Reaffirms Earnings Guidance for the Second Quarter and Full Fiscal Year 2015; to Open 1,650 New Stores in Fiscal Year 2015
The company reaffirmed earnings guidance for the second quarter and full fiscal year 2015. For the second quarter, GAAP EPS is expected to be in the range of $0.63 to $0.64. Non-GAAP EPS is expected to be in the range of $0.64 to $0.65.
For the full fiscal year 2015, GAAP EPS is now expected to be in the range of $3.53 to $3.58. Non-GAAP EPS is now expected to be in the range of $3.09 to $3.13. The company expects revenue growth of 16% to 18% and global comparable store sales growth of mid-single digits. GAAP operating margin is expected to be mildly dilutive versus fiscal year 2014 due to the impact of the company's ownership change in Starbucks Japan. Non-GAAP operating margin is expected to be flat to slightly up over prior year non-GAAP operating margin. The company expects consolidated tax rate of approximately 31%.
For the full year 2015, the company targets new store openings of 1,650.