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星巴克Starbucks Corp.(SBUX)2025财年年度报告「NASDAQ」(英文版)(105页).pdf

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1、Starbucks Fiscal 2025Annual Report 2026 STARBUCKS CORPORATIONUNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington,DC 20549_Form10-K_ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d)OF THE SECURITIES EXCHANGE ACT OF 1934For the Fiscal Year EndedSeptember28,2025orTRANSITION REPORT PURSUANT TO SECTI

2、ON 13 OR 15(d)OF THE SECURITIES EXCHANGE ACT OF 1934For the transition period from to .Commission File Number:000-20322_Starbucks Corporation(Exact Name of Registrant as Specified in its Charter)_Washington91-1325671(State of Incorporation)(IRS Employer ID)_2401 Utah Avenue South,Seattle,Washington9

3、8134(206)447-1575(Address of principal executive office,zip code,telephone number)Securities Registered Pursuant to Section12(b)of the Act:Title of Each ClassTrading SymbolName of Each Exchange on Which RegisteredCommon Stock,$0.001 par value per shareSBUXNasdaq Global Select MarketSecurities Regist

4、ered Pursuant to Section12(g)of the Act:None_Indicate by check mark if the registrant is a well-known seasoned issuer,as defined in Rule405 of the Securities Act.Yes No Indicate by check mark if the registrant is not required to file reports pursuant to Section13 or Section15(d)of the Act.Yes No Ind

5、icate by check mark whether the registrant:(1)has filed all reports required to be filed by Section13 or 15(d)of the Securities ExchangeActof1934 during the preceding 12months(or for such shorter period that the registrant was required to file such reports),and(2)has been subject to such filing requ

6、irements for the past 90days.Yes No Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule405 of RegulationS-T(232.405 of this chapter)during the preceding 12months(or for such shorter period that the registran

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1. **公司概况**:星巴克是全球最大专业咖啡品牌,运营于89个市场,2025财年营收占比北美74%、国际21、渠道开发5%。 2. **门店规模**:截至2025年9月28日,全球直营门店21,514家(北美11,018家,国际10,496家),授权门店19,476家(北美7,293家,国际12,183家)。 3. **战略调整**:2024年推出“回归星巴克”战略,2025年关闭627家表现不佳门店,优化门店组合。 4. **人力资本**:全球员工约38.1万人,北美6%门店工会化;提供行业领先福利(如100%大学学费覆盖、股权激励)。 5. **风险挑战**:面临品牌价值维护、供应链波动(咖啡/奶制品价格)、竞争加剧及宏观经济压力等风险。
星巴克战略调整? 品牌风险何在? 人力资本管理?
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