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SBUX > SEC Filings for SBUX > Form 8-K on 13-Nov-2013All Recent SEC Filings

Show all filings for STARBUCKS CORP

Form 8-K for STARBUCKS CORP


13-Nov-2013

Results of Operations and Financial Condition, Financial Statements and Exhibits


Item 2.02 Results of Operations and Financial Condition.

On October 30, 2013, Starbucks Corporation ("Starbucks" or the "Company") issued a press release announcing its financial results for the fourth quarter and fiscal year ended September 29, 2013, including financial statements.

On November 12, 2013 Starbucks issued a press release regarding the conclusion of its arbitration with Kraft Foods Global, Inc. ("Kraft") over packaged coffee. The arbitrator has ordered Starbucks to pay Kraft $2.23 billion in damages plus prejudgment interest and attorneys' fees (the "Award"). We have estimated prejudgment interest and attorneys' fees to be approximately $557 million.

The Award will be reflected in the Company's fourth quarter and fiscal year ended September 29, 2013 operating results as a charge to operating expense. The information in this Item 2.02 to this Current Report on Form 8-K is being furnished in part to provide updated statements of earnings reflecting the Award (the "Updated Financial Statements"). The Updated Financial Statements are attached hereto as Exhibit 99.1.

As a result of the Award, Q4 fiscal 2013 operating loss and operating margin were $2,115.2 million and -55.7%, respectively, and Q4 fiscal 2013 net loss and loss per share were $1,232.0 million and $1.64, respectively. Full year fiscal 2013 operating loss and operating margin were $325.4 million and -2.2%, respectively, and full year fiscal 2013 net earnings and earnings per share were $8.3 million and $0.01, respectively.

Excluding the Award, Q4 fiscal 2013 non-GAAP operating income and non-GAAP operating margin were $668.9 million and 17.6%, respectively, and Q4 fiscal 2013 non-GAAP net earnings and non-GAAP earnings per share were $481.1 million and $0.63, respectively. Full year fiscal 2013 non-GAAP operating income and non-GAAP operating margin were $2,458.7 million and 16.5%, respectively, and full year fiscal 2013 non-GAAP net earnings and non-GAAP earnings per share were $1,721.4 million and $2.26, respectively. A reconciliation of GAAP to non-GAAP measures is attached hereto as Exhibit 99.2.

As previously announced, the Company will hold a conference call at 6:00 a.m. Pacific Time on November 13, 2013. The call will be webcast and can be accessed on the Company's website: http://investor.starbucks.com. A replay of the webcast will also be available on the Company's website until end of day Thursday, December 12, 2013.



Item 9.01 Financial Statements and Exhibits.

(d) Exhibits.

Exhibit No.                                Description
   99.1       Updated Financial Statements Q4 Fiscal 2013 and Full-Year Fiscal 2013
   99.2       Reconciliation Schedule for GAAP and non-GAAP Financial Figures


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