What is the inventory turnover ratio for 2019?
What is the inventory turnover ratio for 2018?
Tables Contents STARBUCKS CORPORATION CONSOLIDATED BALANCE SHEETS in millions, except per share data) Sep 29 2.686.6 5 705 8792 1.529.4 482 5.653.9 220.0 396.0 8.7563 1815 693.1 1.400 5 1.4623 12,4942 267.7 5.929.1 1347 1.7658 4796 7813 3.490.8 19.2196 1.0422 3.5416 24.156.4 1.1793 ASSETS Current assets Cash and cash equivalents Short-term investments Accounts receivable, net Inventories Prepaid expenses and other current assets Total current assets Long-term investments Equity investments Property, plant and equipment, net Deferred income taxes, net Other long-term assets Other intangible assets Goodwill TOTAL ASSETS LIABILITIES AND SHAREHOLDERS' EQUITY DEFICIT) Current liabilities: Accounts payable Accrued liabilities Accrued payroll and benefits Income taxes payable Stored value card liability and current portion of deferred revenue Current portion of long-term debet Total current liabilities Long-term debt Deferred revenue Other long-term liabilities Total liabilities Shareholders' equity (deficit: Common stock (50,001 par value) - authorized, 2.400,0 shares, issued and outstanding. 1.1846 and 1,309. I shares, respectively Additional paid-in capital Retained earnings (deficit) Accumulated other comprehensive loss Total shareholders' equity (deficit) Noncontrolling interests Total equity (deficit) TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY DEFICIT) 1.189.7 1.753.7 6646 1.291.7 1.2690 1.7525 6568 102 3499 5.6542 6.168.7 11.167.0 1.3705 25.450.6 6,775.7 1.4305 22.980.6 13 1.4574 (5,7712) (5033) (6.232.2) (3303) 1.1695 63 1.175.8 24.156.4 (6.231.0) 19.2196 See Notes to Consolidated Financial Statements. 46 Table of Contents International Sep 29, Sep 30 Sep 29, Sep 30. Escal Year Ended 2019 2018 2018 As a % of International Total Net Revenues Net revenues Company-operated stores 5.256.2 4.702.1 84.9% 84.7% Licensed stores 917.0 837.0 14.8 15.1 Other 17.5 12.1 0.3 0.2 Total net revenues 6,190.7 5,551.2 100.0 100.0 Cost of sales 1.894.9 1.709.4 30.6 30.8 Store operating expenses 2,428.5 2,182.3 39.2 393 Other operating expenses 116.4 98.9 1.9 1.8 Depreciation and amortization expenses SILS 447.6 8.3 8.1 General and administrative expenses 3179 302.5 5.1 5.4 Restructuring and impairments 59.2 55.1 1.0 1.0 Total operating expenses 5,328.4 4.795.8 86.1 86.4 Income from equity investees 102.4 117.4 2.1 Operating income 964.7 872.8 15.6% 15.7% Discussion of our International segment results below reflects the impact of fully consolidating our East China business from an equity method joint venture to a company-operated market since the acquisition date of December 31, 2017. Under the joint venture model, we recognized royalties and product sales within revenue and related product cost of sales as well as our proportionate share of East China's net carings, which resulted in a higher margin business. Under the company-operated ownership model, East China's operating results are reflected in most income statement lines of this segment. Recues International total net revenues for fiscal 2019 increased S640 million, or 12% primarily driven by 665 net new Starbucks company-operated stores, or a 12% increasc, over the past 12 months (5377 million), the ownership change in East China ($280 million) and a 3% increase in comparable store sales (S135 million) Also contributing were increased product sales to and royalty revenues from licensees (584 million), primarily resulting from opening of 669 net new Starbucks licensed stores, or an 11% increase over the past 12 months and the impact of the adoption of revenue recognition guidance on stored value card breakage ($20 million). These increases were partially offset by unfavorable foreign currency translation ($183 million) and the conversion of our Thailand, France, and the Netherlands retail businesses to fully licensed markets ($126 million), Operating Margin International operating income for fiscal 2019 increased 11% to 965 million, compared to $873 million in fiscal 2018. Operating margin decreased 10 basis points to 15.6%, primarily driven by strategic investments to support growth in China (approximately 80 basis points) and growth in wages and benefits (approximately 70 basis points), primarily offset by cost savings initiatives (approximately 80 basis points) and labor efficiencies (approximately 70 basis points). 28 1.7
