SEATTLE, August 25, 2026, 09:27 PDT
- Starbucks unveiled six pumpkin beverages on Tuesday, introducing three new options.
- North America generated $7.40 billion in revenue for the fiscal third quarter, with an operating margin of 13.6%.
- At 12:01 EDT, Starbucks stock was down 1.53% at $105.85.
- Google Finance lists 12 analysts with Buy ratings and eight with Hold out of 20 surveyed.
Starbucks rolled out its fall menu in the United States on Tuesday, with seasonal beverages set to challenge both customer traffic and profit margins. The menu features three new pumpkin-based drinks alongside the returning Pumpkin Spice Latte.
The outcome is significant as Starbucks Corporation NASDAQ:SBUX has regained momentum in customer growth. Last quarter, North America comparable sales climbed 8.1%. The number of transactions grew 4.5%, and the average ticket was up 3.5%.
The gains resulted in a stronger profit mix. North America revenue climbed 7% to $7.40 billion, while operating income advanced 10% to $1.01 billion. Margin improved by 30 basis points to 13.6%.
| Fall menu group | 2026 lineup | Commercial signal |
|---|---|---|
| Pumpkin | Six beverages; three are launches | Main driver for seasonal visits and personalization |
| Pecan | Three drinks returning | Ongoing popularity of established menu |
| Banana bread | Two beverages making debut | Offered outside traditional fall timeframe |
| Food | Two items introduced; one classic returning | Opportunities to boost average check per visit |
The menu combines innovative options with established favorites. Fresh offerings feature a pumpkin shaken espresso, as well as matcha and chai. The company has also reintroduced Pumpkin Cream Cold Brew and Iced Pumpkin Cream Chai.
Starbucks will extend the availability of two banana-bread beverages past autumn, providing a longer sales period compared to a typical seasonal promotion. The company has also introduced a new chicken-and-bacon pocket with 20 grams of protein, offering a chance to boost food sales.
The rollout comes following four straight quarters of comparable-sales gains. Chief Financial Officer Cathy Smith noted July’s figures reflected increasing strength at both the top and bottom lines. Smith said leadership continued to prioritize disciplined execution.
On Tuesday, investors remained cautious. Starbucks shares slipped 1.53% to $105.85 at 12:01 EDT, with trading volume at 2.76 million shares, compared to the average daily volume of 7.17 million.
| Analyst measure | Current reading |
|---|---|
| Buy / Hold / Sell | 12 / 8 / 0 |
| Average 12-month target | $119 |
| Target range | $110–$143 |
| Latest action | Baird starts at Buy, $124, Aug. 24 |
The seasonal menu is now required to accommodate both ticket and throughput. More intricate cold-foam beverages can drive prices higher, though they introduce extra steps in preparation. An important metric to watch will be if transaction growth is maintained alongside rising margins.
Risks: Time-sensitive demand could move sales among beverages without increasing customer traffic. Higher ingredient expenses, special offers and increased service times could also erode margin gains.
Pumpkin Spice Latte unit sales figures have not been revealed by management. For the most accurate insight, investors should look to October’s fiscal fourth-quarter results. U.S. transaction levels and the North America margin will be key indicators.
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