Starbucks
23 named things its latest annual report says its results depend on, each in the company's own words. 15 of them are also named by other companies we've read.
Partners and platforms
Arizona State University
depends on · 100% of tuitionThrough the Starbucks College Achievement Plan (SCAP), Starbucks covers 100% of tuition for a first-time online bachelor’s degree from Arizona State University for partners working an average of 20 hours or more each week.Business (Item 1)
Nestlé S.A.
depends onnamed as a riskOur Channel Development business is heavily reliant on Nestlé, which holds global rights to distribute certain Starbucks branded packaged goods.Risk factors (Item 1A)
Large regional licensees
concentrated innamed as a riskAdditionally, our retail licensed operations are concentrated among a few large licensees, and their inability to access capital or grow effectively, including their inability to meet store development and renovation targets, could adversely affect performance in key markets.Risk factors (Item 1A)
PepsiCo, Inc.
depends onA large portion of our Channel Development business operates under a licensed model of the Global Coffee Alliance with Nestlé, while our global ready-to-drink businesses operate under collaborative relationships with PepsiCo, Inc., Nestlé, and others.Business (Item 1)
Starbucks Rewards
earns fromOur branded stored value card program (the “Starbucks Card”) is designed to provide customers with a convenient payment method, support gifting, and increase the frequency of store visits by cardholders, in part through the related Starbucks® Rewards loyalty program where available, as discussed below.Business (Item 1)
Other companies
23.5 Degrees Topco Limited
113 licensed stores(2)Includes 113 licensed stores converted to company-operated stores in the first quarter of fiscal 2025 following the acquisition of 23.5 Degrees Topco Limited.Business (Item 1)
Places
North America
concentrated in · approximately 74% of total net revenuesnamed as a riskOur financial performance is heavily reliant on our North America operating segment, which accounted for approximately 74% of total net revenues in fiscal year 2025.Risk factors (Item 1A)
Also named by ALSN, AOS, BMI, CAG, CAT, CHRW, CLS, CPB and 19 more
Commodities and inputs
Arabica coffee
exposed to its pricenamed as a riskGiven coffee’s central role in our operations and our limited ability to fully hedge against price increases, rising costs or supply shortages could materially impact our profitability and ability to meet customer demand.Risk factors (Item 1A)
"C" coffee commodity price
exposed to its pricenamed as a riskAlthough most coffee trades in the commodity market, high-altitude arabica coffee of the quality sought by Starbucks tends to trade on a negotiated basis at a premium above the “C” coffee commodity price.Business (Item 1)
Dairy (fluid milk)
depends onIn addition to coffee, we also purchase significant amounts of dairy, particularly fluid milk, and to a lesser degree, plant-based dairy-free alternative products, such as oat milk and almond milk, to support the needs of our company-operated stores.Business (Item 1)
Regulators
National Labor Relations Board
subject to · around 6% of our more than 10,000 U.S. company-operated storesnamed as a riskUnions have secured representation rights at around 6% of our more than 10,000 U.S. company-operated stores, with potentially more to follow, and Starbucks has been engaged in collective bargaining for initial collective bargaining agreements for these stores.Risk factors (Item 1A)
Also named by AZO, BBW, BBY, DKS, FDX, FDXF, ODFL, QSR and 3 more
Laws and programs
OECD Pillar Two
subject to · 15% global minimum taxSeparately, the OECD’s Pillar Two initiative establishes a 15% global minimum tax for multinational entities.Risk factors (Item 1A)
Also named by APO, BAM, BAX, BF/B, CHRW, COHR, CPNG, CRM and 45 more
U.S. tariffs
subject tonamed as a riskTariffs have also affected, and in the future may affect, our costs to procure coffee.Risk factors (Item 1A)
Also named by A, AAPL, ACHR, ADI, AEHR, AEP, AIOT, AKAM and 170 more
EU General Data Protection Regulation (GDPR)
subject tonamed as a riskFor example, the EU’s GDPR and the U.K. equivalent impose strict data protection requirements and significant penalties for noncompliance.Risk factors (Item 1A)
Also named by ACN, ADSK, AIG, ALK, AMG, ANET, APG, AXON and 61 more
California Consumer Privacy Act (CCPA)
subject tonamed as a riskIn the U.S., the California Consumer Privacy Act (CCPA) and numerous other state privacy laws impose disclosure obligations and grant consumers rights over their personal data.Risk factors (Item 1A)
Also named by AAP, AIOT, AKAM, ALL, APP, AYI, BAC, BBSI and 69 more
One Big Beautiful Bill Act
subject tonamed as a risk•Changes in tax laws and government regulations, such as the One Big Beautiful Bill Act, enacted in the U.S. in July 2025;Risk factors (Item 1A)
Also named by AA, ABR, ADI, ADM, ALB, AMAT, AMGN, AMKR and 121 more
EU Corporate Sustainability Reporting Directive
subject tonamed as a riskAdditionally, growing stakeholder focus on responsible business matters has led to heightened expectations and regulatory requirements, such as extended producer responsibility obligations that relate to our product packaging, the EU’s Corporate Sustainability Reporting Directive, or the state of California’s new climate change disclosure requirements.Risk factors (Item 1A)
Also named by AMAT, AVY, CBRE, FFIV, GNRC, HLT, IEX, INGR and 19 more
China Personal Information Protection Law (PIPL)
subject tonamed as a riskChina’s Personal Information Protection Law (PIPL) and Data Security Law similarly regulate personal and non-personal data processing activities and establish data subject rights and obligations for personal information processors, with civil and criminal liabilities for violations.Risk factors (Item 1A)
Also named by ADSK, BSX, DCI, EWBC, FBIN, GTLB, IDCC, KVUE and 2 more
Fair Labor Standards Act
subject tonamed as a riskFor example, at the federal level, effective July 1, 2024, the United States Department of Labor increased the minimum salary threshold requirements for employees who are exempt from the Fair Labor Standards Act overtime requirements, and at the state level, Assembly Bill 1228 increased minimum wage and established working hour and working condition standards for certain partners in California.Risk factors (Item 1A)
California Assembly Bill 1228
subject tonamed as a riskFor example, at the federal level, effective July 1, 2024, the United States Department of Labor increased the minimum salary threshold requirements for employees who are exempt from the Fair Labor Standards Act overtime requirements, and at the state level, Assembly Bill 1228 increased minimum wage and established working hour and working condition standards for certain partners in California.Risk factors (Item 1A)
Beverage taxes on caloric sweeteners
subject tonamed as a riskCertain jurisdictions have enacted or proposed taxes or other restrictions on the manufacture, distribution, or sale of certain of our products, particularly beverages containing caloric sweeteners.Risk factors (Item 1A)