Starbucks Corporation provided earnings guidance for the fiscal year 2023. Starting with the first building block of growth, comparable store sales growth. The company expects fiscal 2023 U.S. comparable sales growth to grow in the range of 7% to 9%.

For China, the company expecting outsized comp in fiscal year 2023 as lap the severity of the lockdowns in the market. The company expects consolidated revenue growth to reach the range of 10% to 12% in fiscal year 2023 despite an approximately 3 percentage point unfavorable impact expected from foreign currency translation. Despite that, the company continues to expect fiscal 2023 GAAP EPS growth to be at the high end of the 15% to 20% range.