About This Report
Forward-Looking Statements
Our reporting on global responsibility for FY24 includes “forward-
looking” statements within the meaning of applicable securities laws
and regulations. Generally, these statements can be identified by the
use of words such as “aim,” “anticipate,” “believe,” “continue,” “could,”
“estimate,” “expect,” “feel,” “forecast,” “intend,” “may,” “outlook,”
“plan,” “potential,” “predict,” “project,” “seek,” “should,” “will,” “would,”
and similar expressions intended to identify forward-looking
statements, although not all forward-looking statements contain
these identifying words. By their nature, forward-looking statements
involve risks, uncertainties, and other factors (many beyond our
control) that could cause our actual results to differ materially
from our historical experience or from our current expectations
or projections. Our forward-looking statements, and the risks and
uncertainties related thereto, include, but are not limited to, those
described under the “Risk Factors” and “Management’s Discussion
and Analysis of Financial Condition and Results of Operations”
sections of our most recently filed 10-K and 10-Q and in other filings
with the SEC, as well as:
•
our ability to preserve, grow, and leverage our brands, including the risk of
negative responses by consumers (such as boycotts or negative publicity
campaigns) or governmental actors (such as retaliatory legislative treatment)
who object to certain actions taken or not taken by the Company, which
responses could adversely affect our brand value;
•
the acceptance of the Company’s products and changes in consumer
preferences, consumption, or spending behavior and our ability to anticipate
or react to them; shifts in demographic or health and wellness trends; or
unfavorable consumer reaction to new products, platforms, reformulations,
or other innovations;
•
our anticipated operating expenses, including our anticipated total capital
expenditures;
•
the costs associated with, and the successful execution and effects of, our
existing and any future business opportunities, expansions, initiatives,
strategies, investments, and plans, including our Triple Shot Reinvention with
Two Pumps Plan (“Reinvention”);
•
the impacts of partner investments and changes in the availability and cost of
labor including any union organizing efforts and our responses to such efforts;
•
the ability of our business partners, suppliers, and third-party providers to
fulfill their responsibilities and commitments;
•
higher costs, lower quality, or unavailability of coffee, dairy, energy, water,
raw materials, or product ingredients;
•
the impact of significant increases in logistics costs;
•
a worsening in the terms and conditions upon which we engage with our
manufacturers and source suppliers, whether resulting from broader local or
global conditions, or dynamics specific to our relationships with such parties;
•
unfavorable global or regional economic conditions and related economic
slowdowns or recessions, low consumer confidence, high unemployment,
weak credit or capital markets, budget deficits, burdensome government
debt, austerity measures, higher interest rates, higher taxes, political
instability, higher inflation, or deflation;
•
inherent risks of operating a global business including geopolitical instability;
•
failure to attract or retain key executive or partner talent or successfully
transition executives;
•
the potential negative effects of incidents involving food or beverage-borne
illnesses, tampering, adulteration, contamination, or mislabeling;
•
negative publicity related to our Company, products, brands, marketing,
executive leadership, partners, Board of Directors, founder, operations,
business performance, or prospects;
•
potential negative effects of a material breach, failure, or corruption of our
information technology systems or those of our direct and indirect business
partners, suppliers, or third-party providers, or failure to comply with
personal data protection laws;
•
our environmental, social, and governance (“ESG”) efforts and any reaction
related thereto, such as the rise in opposition to ESG and inclusion and
diversity efforts;
•
risks associated with acquisitions, dispositions, business partnerships, or
investments - such as acquisition integration, termination difficulties or costs,
or impairment in recorded value;
•
the impact of foreign currency translation, particularly a stronger U.S. dollar;
•
the impact of substantial competition from new entrants, consolidations
by competitors, and other competitive activities, such as pricing actions
(including price reductions, promotions, discounting, couponing, or free
goods), marketing, category expansion, product introductions, or entry or
expansion in our geographic markets;
•
the impact of changes in U.S. tax law and related guidance and regulations
that may be implemented, including on tax rates;
•
the impact of health epidemics, pandemics, or other public health events
on our business and financial results, and the risk of negative economic
impacts and related regulatory measures or voluntary actions that may be
put in place, including restrictions on business operations or social distancing
requirements, and the duration and efficacy of such restrictions;
•
failure to comply with anti-corruption laws, trade sanctions, and restrictions
or similar laws or regulations; and
•
the impact of significant legal disputes and proceedings, or government
investigations.
In addition, many of the foregoing risks and uncertainties are, or
could be, exacerbated by any worsening of the global business and
economic environment. A forward-looking statement is neither a
prediction nor a guarantee of future events or circumstances, and
those future events or circumstances may not occur. You should not
place undue reliance on the forward-looking statements, which
speak only as of the date of this report. We are under no obligation to
update or alter any forward-looking statements, whether as a result
of new information, future events, or otherwise.
2024 Global Impact Report
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©2025 Starbucks Coffee Company.
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