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星巴克Starbucks Corp.(SBUX)2025财年10-K年度报告「NASDAQ」(英文版)(102页).pdf

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1、UNITED STATES SECURITIES AND EXCHANGE COMMISSIONWashington,DC 20549Form 10-K ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d)OF THE SECURITIES EXCHANGE ACT OF 1934For the Fiscal Year Ended September 28,2025 orTRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d)OF THE SECURITIES EXCHANGE ACT OF 1934For the

2、 transition period from to .Commission File Number:000-20322 Starbucks Corporation(Exact Name of Registrant as Specified in its Charter)Washington91-1325671(State of Incorporation)(IRS Employer ID)2401 Utah Avenue South,Seattle,Washington 98134(206)447-1575(Address of principal executive office,zip

3、code,telephone number)Securities Registered Pursuant to Section 12(b)of the Act:Title of Each ClassTrading SymbolName of Each Exchange on Which RegisteredCommon Stock,$0.001 par value per shareSBUXNasdaq Global Select MarketSecurities Registered Pursuant to Section 12(g)of the Act:NoneIndicate by ch

4、eck mark if the registrant is a well-known seasoned issuer,as defined in Rule 405 of the Securities Act.Yes x No Indicate by check mark if the registrant is not required to file reports pursuant to Section 13 or Section 15(d)of the Act.Yes No xIndicate by check mark whether the registrant:(1)has fil

5、ed all reports required to be filed by Section 13 or 15(d)of the Securities Exchange Act of 1934 during the preceding 12 months(or for such shorter period that the registrant was required to file such reports),and(2)has been subject to such filing requirements for the past 90 days.Yes x No Indicate

6、by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T(232.405 of this chapter)during the preceding 12 months(or for such shorter period that the registrant was required to submit such files).Yes x

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1. **公司概况**:星巴克是全球最大专业咖啡零售商,业务覆盖89个市场,2025财年营收构成:北美74%、国际21、渠道发展5%。 2. **门店运营**:截至2025年9月28日,全球直营门店21,514家(北美11,018家,国际10,496家),授权门店19,476家(北美7,293家,国际12,183家)。 3. **战略调整**:2025年第四季度宣布“回归星巴克”计划,关闭627家表现不佳的门店,并重组支持组织。 4. **人力资本**:全球员工约38.1万人,美国约22.3万人(6%门店工会化),提供行业领先福利(如学费补贴、股权激励)。 5. **风险因素**:品牌价值维护、供应链波动(咖啡价格持续上涨)、竞争加剧及地缘政治风险为主要挑战。
星巴克战略调整? 员工福利如何? 咖啡供应链风险?
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