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Sentiment · FY2026 Q2
What companies say about each other on earnings calls — extracted verbatim from public transcripts. Mentions from the newest quarter are a Pro feature.
“Some of the innovation that we have in the Starbucks portfolio is intended to do that.”
PepsiCo references innovation in its Starbucks ready-to-drink partnership portfolio as a lever to reaccelerate its coffee business.
“We continue to augment the Bonvoy platform with popular collaborations like Uber and Starbucks”
Marriott's Bonvoy loyalty program runs collaborations with Starbucks.
“We welcome huge names like Estee Lauder Companies, Starbucks, Coach, Michael Kors, Burton snowboards, e.l.f. Cosmetics”
Starbucks is named among major North America brands that joined Shopify in 2025, a customer win read-through.
“introducing experiential benefits, including category-specific rewards in beauty and simple moments like Starbucks offers to enhance in-store visits and drive incremental trips.”
Target is weaving Starbucks (its in-store cafe partner) offers into its Target Circle loyalty program to enhance in-store visits and drive incremental trips.
“Brand names like Starbucks, Lavzza, Dunkin', Peet's, McCafé, La Colombe and Tim Hortons and many more.”
Starbucks is among the licensed brand partners produced in KDP's Keurig single-serve system, underscoring Keurig's open-system partner roster.
“we have a JV with Starbucks that is very successful and that will continue to provide energy solutions, energy plus solutions, not only energy in the coming years.”
PepsiCo highlights its longstanding ready-to-drink coffee joint venture with Starbucks as a successful and ongoing growth driver, including expansion into energy-adjacent offerings.
“Starbucks a multiyear ServiceNow customer is using our AI capabilities to enhance its technology ecosystem, rolling out ServiceNow in select support centers to drive greater satisfaction at every touch point.”
Starbucks, a multiyear ServiceNow customer, is rolling out ServiceNow AI capabilities in select support centers to improve satisfaction across touch points.
“In this quarter, we signed up some iconic global brands, including Starbucks, Canada Goose and Burton Snowboards.”
Starbucks is migrating to Shopify's unified commerce platform, a notable enterprise customer win.
“with Starbucks on the coffee space”
PepsiCo cites its ready-to-drink coffee partnership with Starbucks as part of its inorganic/partnership growth strategy in beverages.
“Sales of Starbucks Energy Coffee were 11.7% lower.”
Starbucks' energy coffee line lost sales and share (down 4.4 points to 36.6%) in the coffee-plus-energy category, ceding ground to Monster's Java Monster/Killer Brew lines.
“tie-ups with partners like Uber and Starbucks”
Marriott cites its Starbucks tie-up as part of a broader travel-adjacent partnership strategy meant to deepen Bonvoy member engagement and capture more customer wallet share.
“we announced an agreement to form a joint venture with Boyu Capital to more strategically capture the significant white space we continue to see in China”
Starbucks formed a China joint venture with Boyu Capital, which will acquire up to 60% of Starbucks' China retail operations while Starbucks retains 40%, a major stake change to accelerate China expansion.
“including a new line of Iced Energy and Frappucino-like beverages in partnership with PepsiCo”
Starbucks continues to extend its global channel/ready-to-drink business through its long-standing bottled beverage partnership with PepsiCo, launching new Iced Energy and Frappuccino-style products.
| Analyst | Firm | Questions (Challenge)Percentage of questions scored as challenging — where the analyst pushed back, pressed for specifics, or questioned management's assumptions. |
|---|---|---|
| Dave Palmer | Evercore ISI | 7 (0%) |
| Dave Tarantino | Robert W. Baird | 6 (0%) |
| Chris O'Cull | Stifel |
“I had the opportunity to spend some time with the guys at Target and I will tell you they are hugely supportive of the idea of getting back to Starbucks and I think they're going to want to give people the back to Starbucks experience that we're after.”
Starbucks' new CEO says Target, a major licensed-store host, is fully supportive of the Back to Starbucks turnaround plan and intends to carry it through in its in-store cafes.
“One of the things that made Chipotle successful was the digital make line that helped provide capacity for traffic growth and creating production capacity.”
An analyst frames Chipotle's digital make line as a proven capacity-unlock model, implying Chipotle's operational playbook (which new Starbucks CEO Brian Niccol led) is a credible benchmark for throughput gains elsewhere in restaurants.
| Brian Harbour | Morgan Stanley | 6 (0%) |
| Lauren Silberman | Deutsche Bank | 6 (0%) |
| John Ivankoe | JPMorgan | 6 (0%) |
| Jeff Bernstein | Barclays | 6 (0%) |
| Sara Senatore | Bank of America | 5 (0%) |
| Danilo Gargiulo | Bernstein | 5 (0%) |
| Andy Charles | TD Cowen | 4 (0%) |
| Firm | Analysts | Questions (Challenge)Percentage of questions scored as challenging — where the analyst pushed back, pressed for specifics, or questioned management's assumptions. |
|---|---|---|
| Evercore ISI | 1 | 7 (0%) |
| Robert W. Baird | 1 | 6 (0%) |
| Barclays | 1 | 6 (0%) |
| Stifel | 1 | 6 (0%) |
| Deutsche Bank | 1 | 6 (0%) |
| JPMorgan | 1 | 6 (0%) |
| Morgan Stanley | 1 | 6 (0%) |
| Bank of America | 2 | 6 (0%) |
Starbucks introduced FY2026 guidance for the first time after a full year of suspension, targeting EPS of $2.15-$2.40 with 3%+ global comp sales growth and slightly improved operating margins. Q1 delivered the first transaction growth in eight quarters alongside 5% revenue growth, though EPS still declined 19% as turnaround investments annualized. The China JV with Boyu Capital was announced alongside a $2 billion cost reduction program, while coffee price and tariff headwinds were expected to peak in Q2.
Demand | Margin | Cost Pressure | Innovation & R&D | Competitive Dynamics | Product Launch | Revenue Growth | Geographic Expansion | |
|---|---|---|---|---|---|---|---|---|
| 2025Q1 | 8 | 4 | 3 | 5 | 2 | 1 | 3 | 1 |
| 2025Q2 | 5 | 2 | 3 | 2 | 2 | 2 | 2 | |
| 2025Q3 | 6 | 3 | 3 | 2 | 2 | 3 | 1 | 1 |
| 2025Q4 | 7 | 3 | 2 | 1 | 3 | 1 | 2 | 1 |
| 2026Q1 | 6 | 3 | 3 | 2 | 2 | 3 | 2 | 1 |
| 2026Q2 | 5 | 5 | 2 | 3 | 2 | 1 |
| '25Q1 | '25Q2 | '25Q3 | '25Q4 | '26Q1 | '26Q2 | |
|---|---|---|---|---|---|---|
| Demand | 8 | 5 | 6 | 7 | 6 | 5 |
| Margin | 4 | 2 | 3 | 3 | 3 | 5 |
| Cost Pressure | 3 | 3 | 3 | 2 | 3 | 2 |
| Innovation & R&D | 5 | 2 | 2 | 1 | 2 | 3 |
| Competitive Dynamics | 2 | 2 | 2 | 3 | 2 | 2 |
| Product Launch | 1 | 2 | 3 | 1 | 3 | |
| Revenue Growth | 3 | 1 | 2 | 2 | 1 | |
| Geographic Expansion | 1 | 2 | 1 | 1 | 1 |
| Company | Score | Trend | Rev YoY |
|---|---|---|---|
SBUX Starbucks | 9 | +8.8% | |
| CMG Chipotle Mexican Grill | 5 | +7.4% | |
| DPZ Domino's | 5 | +3.5% | |
| DRI Darden Restaurants | 9 | +13.7% | |
| MCD McDonald's Corporation | 7 | +9.4% | |
| YUM Yum! Brands | 9 | +15.2% |