Starbucks Coffee Company on Thursday provided an update on store closures, as well as fresh plans for future store growth, as it reported earnings for its Q4 and full fiscal year 2026. Here’s what to know:

Starbucks earnings snapshot

The Seattle-based coffee company reported adjusted earnings of 80 cents per share, a 54% increase over the prior year, beating analyst expectations.

Consolidated net revenues decreased about 4% to $9.1 billion. Starbucks says the decline was largely driven by the conversion of its China retail operations to a licensed joint venture.

For the full fiscal year 2026, Starbucks reported net revenue of $37.9 billion, an increase of 2%.

Shares of Starbucks Corporation (Nasdaq: SBUX) were down 2% in early trading on Friday along with much of the market.…