On the evening of November 2nd, Starbucks released its fourth quarter and full year results for the fiscal year 2023 (as of October 1st, 2023). In the fourth quarter of the 2023 fiscal year, Starbucks' omnichannel business in the Chinese market continued to maintain strong momentum, and various data maintained a growth trend.
Specifically, in the fourth quarter, Starbucks' revenue in the Chinese market reached $840.6 million, a year-on-year increase of 15%. During the same period, Starbucks' same store sales in the Chinese market increased by 5%, the same store transaction volume increased by 8%, and the average unit price per customer decreased by 3%. Throughout the fiscal year 2023, Starbucks' revenue in the Chinese market reached $3 billion, an increase of 11% year-on-year, and same-store sales increased by 2%.
From a channel by channel perspective, Starbucks China's stores, coffee fast (online point, store to store pickup), specialized star delivery (delivery business), e-commerce, and other channels have all achieved rapid growth. As of the end of the fourth quarter of the 2023 fiscal year, the number of active members of Starbucks China Star Club (with consumption behavior in the past 90 days) exceeded a record 21 million, a year-on-year increase of 22%.
In terms of store expansion, in the fourth quarter of the 2023 fiscal year, Starbucks opened 326 unique stores in China, setting a new historical record. By the end of fiscal year 2023, Starbucks China had 6806 stores, a year-on-year increase of 13%.
Starbucks CEO Nasihan stated that behind the strong growth, Starbucks' unique products, successful market strategy, and strong execution ability demonstrated by its Chinese partners in the face of abundant market opportunities are highlighted. The company has always been based on the essence of coffee and constantly innovating. At the same time, the company's food sales also contain enormous potential, further promoting the increase in store transaction volume and unit price per customer.
The excellent profitability of newly opened stores has given us full confidence to achieve the vision of 9000 stores by 2025, which means opening 1000 new stores annually. "Nasihan said that the number of coffee drinkers in the Chinese market continues to grow, and Starbucks China will steadily maintain its leading position in the high-end market, continuously develop store types, and enter more new cities.
It is reported that in the fourth quarter of the 2023 fiscal year, Starbucks' global comprehensive net income reached a historic high, increasing by 11% year-on-year to $9.4 billion, with a 12% increase after removing the impact of 1% exchange rate fluctuations. During the same period, the company's global same store sales increased by 8%, the same store transaction volume increased by 3%, and the average unit price per customer increased by 4%.