Starbucks reported that pricing contributed less than one point to ticket growth during the quarter, according to comments made by the company’s Chief Financial Officer on a conference call. The executive highlighted that a tariff refund received in the third quarter largely offset tariffs incurred in the first three quarters of fiscal 2026. Looking ahead, Starbucks indicated that its international division store count is expected to grow meaningfully in fiscal year 2027.

The remarks were delivered during the company’s quarterly earnings conference call. The CFO’s comments provided insight into the drivers of same-store sales performance and the impact of trade policies on the company’s cost structure. The tariff refund mechanism helped mitigate the financial burden associated with import duties during the initial part of the fiscal year.

Pricing Dynamics

The CFO emphasized that price increases played a minor role in overall ticket growth. By contributing less than a point, pricing actions did not significantly drive top-line expansion during the period. This suggests that volume or other operational factors may have been more influential in shaping quarterly performance metrics.

International Expansion Outlook

Starbucks outlined positive expectations for its international footprint. The company anticipates meaningful growth in store counts within its international division throughout fiscal year 2027. This expansion strategy underscores the firm’s focus on global market penetration as a key component of its long-term growth plan.

Tariff Impact Mitigation

Trade-related costs were partially neutralized by a regulatory refund. The refund received in the third quarter effectively covered the tariffs paid during the first three quarters of fiscal 2026. This offset reduced the net negative impact of trade barriers on the company’s operating expenses for the year-to-date period.

Wells Fargo analyst Zachary Fadem has maintained an Overweight rating on Starbucks (NASDAQ: SBUX) and raised the price target to $120 from $115. The revised target reflects a higher valuation expectation for the company's shares, signaling continued confidence in its market performance.

The rating reaffirms the firm's positive outlook on Starbucks' growth potential. The price target adjustment suggests an upward revision in the stock's projected value based on recent analysis.