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BRIEF-Starbucks expects earnings of $2.30 to $2.33 per share in 2018
November 2, 2017 / 10:31 PM / 19 days ago

BRIEF-Starbucks expects earnings of $2.30 to $2.33 per share in 2018

Nov 2 (Reuters) - Starbucks Corp

* Added over 2,200 net new stores to a total of now over 27,000 stores globally‍​

* To launch co-branded visa credit card with chase, enabling customers to receive Starbucks rewards with their purchases in Winter

* To add approximately 2,300 net new stores globally in 2018

* China/Asia pacific will drive roughly half of global store growth in fiscal 2018 with 1,100 net new stores, nearly 600 in China

* Americas segment plans to add 900 net new stores, split roughly evenly between company-owned and licensed

* Our effects to streamline our business will have an impact on reported 2018 revenue growth

* Starbucks - revenue to be impacted by shifts in retail store portfolio, including pending acquisition of East China business & closing Teavana stores

* We expect non-GAAP EPS growth of 12% to 13% or $2.30 to $2.33 per share in fiscal 2018‍​

* Gains from East China and Tazo transaction likely to contribute over $0.50 to GAAP EPS

* Fiscal 2018 consolidated operating margin is expected to be up slightly relative to fiscal 2017

* Starbucks Corp - expects moderate margin expansion from CAP segment in 2018, excluding impact from change in ownership structure for east china

* As we exit 2018, we’ll be growing earnings per share higher than the range that we gave for 2018

* EMEA is targeting approximately 300 net new stores, virtually all licensed - conf call Further company coverage:

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