What impact did tax expenses have on Starbucks' Q1 2025 results?

**Tax expenses did not have a significant impact on Starbucks' Q1 2025 results.** Here's an analysis based on the available data: 1. **No Specific Tax Expense Data**: There were no tax expense details reported for Starbucks in Q1 2025. The search for SBUX Tax Expense in Q1 2025, Impact on SBUX Q1 2025 Results yielded no results. 2. **Overall Performance**: Starbucks' Q1 2025 performance was characterized by: - Better-than-expected earnings and net revenues that topped the Zacks Consensus Estimate. - A flat total net revenue of $9.39 billion, unchanged from the previous year. - A decline of 23.8% in net earnings to $780.8 million compared to $1.02 billion in Q1 2024. - A drop of 4% in global comparable store sales, primarily due to a 6% fall in comparable transactions, partly offset by a 3% increase in the average customer ticket. 3. **Factors Influencing Performance**: The decline in net earnings and global comparable store sales was attributed to: - Increased store operating expenses and general and administrative expenses, which marred the bottom-line growth. - Decreased product and equipment sales to licensees. - Challenges in the United States and the international market. 4. **Strategic Initiatives**: To address these challenges, Starbucks is focusing on implementing its “Back to Starbucks” plan, realizing supply-chain efficiencies, and annualizing pricing. 5. **Stock Performance**: Despite the challenges, Starbucks shares added about 4.1% since the last earnings report, outperforming the S&P 500. In conclusion, tax expenses do not seem to have had a material impact on Starbucks' Q1 2025 results, as evidenced by the absence of specific tax expense data and the company's overall performance metrics. The decline in net earnings and global comparable store sales was primarily due to increased store operating expenses, lower product and equipment sales, and challenges in the domestic and international markets, rather than tax expenses.