STARBUCKS CORP

In this Annual Report on Form 10-K ( 10-K or Report ) for the fiscal year ended September 28, 2025 ( fiscal 2025 ), Starbucks Corporation (together with its subsidiaries) is referred to as Starbucks, the Company, we, us, or our. Starbucks is the premier roaster, marketer, and retailer of specialty coffee in the world, operating in 89 markets. Formed in 1985, Starbucks Corporation’s common stock trades on the Nasdaq Global Select Market ( Nasdaq ) under the symbol SBUX. We purchase and roast high-quality coffees that we sell, along with handcrafted coffee, tea, and other beverages and a variety of high-quality food items through company-operated stores ( stores or coffeehouses ). We also sell a variety of coffee and tea products and license our trademarks through other channels, such as licensed stores as well as grocery and foodservice through our Global Coffee Alliance with Nestl S.A. ( Nestl ). In addition to our flagship Starbucks Coffee brand, we sell goods and services under the following brands: Teavana , Ethos , and Starbucks Reserve . Our primary objective is to maintain Starbucks standing as one of the most recognized and respected brands in the world. We believe the continuous investments in our brand and operations will deliver long-term targeted revenue and income growth. This includes expansion of our global store base, adding stores in both existing, developed markets such as the U.S. and in higher growth markets, as well as optimizing the mix of company-operated and licensed stores around the world.