<SEC-DOCUMENT>0001193125-19-149610.txt : 20190906
<SEC-HEADER>0001193125-19-149610.hdr.sgml : 20190906
<ACCEPTANCE-DATETIME>20190516180302
<PRIVATE-TO-PUBLIC>
ACCESSION NUMBER:		0001193125-19-149610
CONFORMED SUBMISSION TYPE:	CORRESP
PUBLIC DOCUMENT COUNT:		2
FILED AS OF DATE:		20190516

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			STARBUCKS CORP
		CENTRAL INDEX KEY:			0000829224
		STANDARD INDUSTRIAL CLASSIFICATION:	RETAIL-EATING & DRINKING PLACES [5810]
		IRS NUMBER:				911325671
		STATE OF INCORPORATION:			WA
		FISCAL YEAR END:			0929

	FILING VALUES:
		FORM TYPE:		CORRESP

	BUSINESS ADDRESS:	
		STREET 1:		P O BOX 34067
		CITY:			SEATTLE
		STATE:			WA
		ZIP:			98124-1067
		BUSINESS PHONE:		2064471575

	MAIL ADDRESS:	
		STREET 1:		2401 UTAH AVENUE SOUTH
		CITY:			SEATTLE
		STATE:			WA
		ZIP:			98134
</SEC-HEADER>
<DOCUMENT>
<TYPE>CORRESP
<SEQUENCE>1
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<TITLE>CORRESP</TITLE>
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 </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">May&nbsp;16, 2019 </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><U>VIA EDGAR TRANSMISSION </U></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">U.S. Securities and Exchange
Commission </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Division of Corporation Finance </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Office of
Transportation and Leisure </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">100 F Street N.E. </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Washington, DC
20549 </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><B>Re:</B></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left"><B>Starbucks Corporation </B></P></TD></TR></TABLE>
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B>Form <FONT STYLE="white-space:nowrap">10-Q</FONT> for the Quarter Ended March&nbsp;31, 2019 </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B>Filed April&nbsp;30, 2019 </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B>File <FONT STYLE="white-space:nowrap">No.&nbsp;000-20322</FONT> </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Dear Division of Corporate Finance: </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Starbucks Corporation
(&#147;Starbucks&#148; or the &#147;Company&#148;) has received your letter dated May&nbsp;6, 2019 with respect to the review by the staff (&#147;Staff&#148;) of the Securities and Exchange Commission (the &#147;Commission&#148;) of the
Company&#146;s Form <FONT STYLE="white-space:nowrap">10-Q</FONT> for the fiscal quarter ended March&nbsp;31, 2019. Starbucks understands the importance of providing full and transparent disclosures in its 1934 Act filings and appreciates this
feedback from the Staff. For your convenience, the comments in your May&nbsp;6, 2019 letter are repeated herein and the Company&#146;s responses are set forth immediately below such comments. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><U>Form <FONT STYLE="white-space:nowrap">10-Q:</FONT> For the Fiscal Quarter Ended March&nbsp;31, 2019 </U></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><U>Notes to Consolidated Financial Statements </U></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><U>Note 2:
Revenue Recognition </U></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><U>License Store Revenues, page 11 </U></P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD WIDTH="4%" VALIGN="top" ALIGN="left">1.</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left">We note from your disclosure initial nonrefundable <FONT STYLE="white-space:nowrap">pre-opening</FONT> service
fees, including site selection and evaluation, store development and design and operational training, are recognized upon completion of service. Please clarify your revenue recognition policy to specify the performance obligations included in
contracts for licensed store arrangements. Your revised disclosure should indicate the goods or services promised in your licensing arrangements that are distinct and those that are combined to form a bundled performance obligation. Further please
disclose why you believe it is appropriate to recognize <FONT STYLE="white-space:nowrap">pre-opening</FONT> services upon completion of service. As part of your revised disclosure, please discuss the significant judgments made by management in
evaluating the timing of satisfaction of the related performance obligations and when a customer obtains control of the promised good or service in accordance with ASC <FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap"><FONT
STYLE="white-space:nowrap">606-10-50-17</FONT></FONT></FONT> and 19. </P></TD></TR></TABLE>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">U.S. Securities and Exchange Commission </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Division of Corporation Finance </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">May 16, 2019 </P>
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 </P> <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><U>RESPONSE</U>: </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">With respect to our revenue recognition policy for identifying and specifying the performance obligations included in our licensed store contracts, we analyze
individual promises made in the contracts in accordance with ASC <FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">606-10-25-14.</FONT></FONT></FONT> For the purposes of identifying performance
obligations, our customer is defined as the licensee who engages with Starbucks to open and operate a licensed store location. Each distinct promise that transfers to the licensee is either a good or service or series of similar goods or services
identified as a performance obligation. We consider goods or services to be distinct if the licensee receives a benefit from the goods or services on their own or in conjunction with other resources that are readily available and if our promise to
transfer the goods or services to the customer can be separately identified and distinguished from other promises in the contract (ASC
<FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">606-10-25-19).</FONT></FONT></FONT> </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Relative to the
individual promises in our licensed store contracts, we have identified three distinct, bundled performance obligations: </P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD WIDTH="4%" VALIGN="top" ALIGN="left">1.</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left">License Performance Obligation: A license to develop and operate individual Starbucks store(s)
</P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD WIDTH="4%" VALIGN="top" ALIGN="left">2.</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left">Architectural/Design Performance Obligation: Site selection and the development and/or review of architectural
plans and designs </P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TR style = "page-break-inside:avoid">
<TD WIDTH="4%" VALIGN="top" ALIGN="left">3.</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left">Training Performance Obligation: Training of licensee employees predominantly prior to the opening of each
store </P></TD></TR></TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">We considered transaction price allocation guidance in accordance with ASC <FONT STYLE="white-space:nowrap"><FONT
STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">606-10-32-28</FONT></FONT></FONT> to determine how the upfront consideration should be allocated to the performance obligations. As the selling prices for each of the three performance
obligations approximate their fair values, none of the upfront consideration received for architectural/design and training is allocated to the license. We recognize revenue when or as control of promised goods and services is transferred to a
customer in an amount that reflects the consideration expected to be received for those goods and services. Control is considered to have transferred when the customer has the ability to direct the use of, and obtain substantially all of, the
remaining benefits from the asset (ASC <FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">606-10-25-25).</FONT></FONT></FONT> For the license performance obligation (in which the symbolic intellectual
property is the predominant promised component), we recognize a sales and usage-based royalty promised in exchange for our license of intellectual property to the licensee as the underlying sales occur in accordance with ASC <FONT
STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">606-10-55-65.</FONT></FONT></FONT> For the architectural/design and training performance obligations, which collectively comprise the <FONT
STYLE="white-space:nowrap">pre-opening</FONT> services we provide, we recognize revenue upon completion of services. Although performance obligations from <FONT STYLE="white-space:nowrap">pre-opening</FONT> services are technically completed over a
short period of time (generally no more than over a three to five-month period) immediately prior to store opening, it is management&#146;s policy to recognize revenue at the point services are billed, which typically occurs at the time of store
opening. We do not believe that the distinction in revenue recognition over time versus at a point in time is critical because: 1) the amounts are not material and 2) performance occurs over a relatively short period of time. Therefore, the minor
delay in recognizing certain revenues relating to <FONT STYLE="white-space:nowrap">pre-opening</FONT> services does not have a significant impact to our financial results. And in any event, there is no acceleration of revenue recognition that should
otherwise be deferred. </P>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">U.S. Securities and Exchange Commission </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Division of Corporation Finance </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">May 16, 2019 </P>
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 3
 </P> <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">With respect to significant judgments management makes in evaluating the timing of performance obligation
satisfaction and when the customer obtains control of the promised goods and services, we examined the nature of the arrangements to determine when control transfers to the customer and the customer obtains benefits from our performance. For the <FONT
STYLE="white-space:nowrap">pre-opening</FONT> service performance obligations, we transfer control of the goods and services upon completion of the new store <FONT STYLE="white-space:nowrap">set-up,</FONT> which generally corresponds with the store
opening date. At store opening, the customer has received all goods and services necessary to operate the location, and we view the customer as having received substantially all the benefits from our performance. As mentioned above, there is no
significant timing difference between when services are performed and when revenue is recognized. For the license performance obligation, the customer accesses the license to our brand over time as sales occur in the licensed locations, and we
recognize revenue under the sales or usage-based royalty accounting in accordance with ASC <FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">606-10-55-65.</FONT></FONT></FONT> </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Based on the above considerations, we will expand our discussion of licensed store revenues in our future filings, beginning with our Form <FONT
STYLE="white-space:nowrap">10-Q</FONT> for the fiscal quarter ending June&nbsp;30, 2019 [changes are emphasized in bold]: </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><I>Licensed Store Revenues
</I></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Licensed store revenues primarily consist of product and equipment sales and royalties and other fees paid by licensees using the Starbucks brand.
Sales of coffee, tea, food and related products are generally recognized upon shipment to licensees, depending on contract terms. Shipping charges billed to licensees are also recognized as revenue, and the related shipping costs are included in
cost of sales including occupancy costs on our condensed consolidated statements of earnings. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>We consider
<FONT STYLE="white-space:nowrap">pre-opening</FONT> services, including site evaluation and selection, store architectural/design and development and operational training, to be performance obligations that are separate from the license to operate
under the Starbucks brand as these <FONT STYLE="white-space:nowrap">pre-opening</FONT> services provide distinct value to our licensees, including business and industry insight and knowledge that transfer values apart from the license.</B>
<B>Revenues associated to these <FONT STYLE="white-space:nowrap">pre-opening</FONT> services are recognized upon completion of the related performance obligations, generally when a store is opened. </B>Royalty revenues are recognized based upon a
percentage of reported sales, and other continuing fees, such as marketing and service fees, are recognized as the performance obligations are satisfied. </P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD WIDTH="4%" VALIGN="top" ALIGN="left">2.</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left">Additionally, please disclose the significant judgments made by management in determining <FONT
STYLE="white-space:nowrap">pre-opening</FONT> services are distinct from the license performance obligation, including the reason(s) why the associated revenues are satisfied at the point in time rather than over time. </P></TD></TR></TABLE>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><U>RESPONSE: </U></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">As detailed above in our response to the
Staff&#146;s first comment, we consider goods or services to be distinct if the customer receives benefits from the goods or services on their own or with other resources that are readily available and if our promise to transfer the goods or
services to the customer can be separately identified and distinguished from other promises in the contract (ASC <FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">606-10-25-19).</FONT></FONT></FONT>
With respect to <FONT STYLE="white-space:nowrap">pre-opening</FONT> services, these services are rendered before the license is transferred, and the utility of the <FONT STYLE="white-space:nowrap">pre-opening</FONT> services is not enhanced by the
license performance obligation, as the knowledge and outputs from these services are retained by the licensee without the </P>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">U.S. Securities and Exchange Commission </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Division of Corporation Finance </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">May 16, 2019 </P>
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support and maintenance of the license. At the point of store opening, the customer is provided a set of business and industry insights and knowledge that is separate and distinct from the
license. As such, we concluded that the customer can benefit from the services on their own without access to the license. We also believe that our promise to deliver the <FONT STYLE="white-space:nowrap">pre-opening</FONT> services is separately
identifiable from the transfer of the license. Access to the license does not significantly affect the licensee&#146;s ability to use and benefit from the <FONT STYLE="white-space:nowrap">pre-opening</FONT> services, as the licensee has retained the
value from our <FONT STYLE="white-space:nowrap">pre-opening</FONT> services. Additionally, provision of the license does not result in significant modification or customization of the <FONT STYLE="white-space:nowrap">pre-opening</FONT> services the
licensee has already received. Lastly, the license and <FONT STYLE="white-space:nowrap">pre-opening</FONT> services are not highly interdependent or interrelated because we sell access to our marks and licenses independent of any promise to provide <FONT
STYLE="white-space:nowrap">pre-opening</FONT> services. <FONT STYLE="white-space:nowrap">Pre-opening</FONT> services are performed in the time period immediately prior to store opening, and the licensee obtains substantially all the benefit from the
services once the store opens; as such, the associated revenue is recognized at that time. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">We advise the Staff to refer to our proposed disclosures in
our future filings stated under our response to Question 1 above. </P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD WIDTH="4%" VALIGN="top" ALIGN="left">3.</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left">Please disclose revenue recognized during the reporting period that was included in deferred revenue at the
beginning of the period. Refer to ASC <FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">606-10-50-8.</FONT></FONT></FONT> </P></TD></TR></TABLE>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><U>RESPONSE: </U></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">We advise the Staff that as we recognize
revenue upon the completion of the <FONT STYLE="white-space:nowrap">pre-opening</FONT> services, no such revenue was included in deferred revenue at the beginning of the period. In general, licensees do not prepay license fees or <FONT
STYLE="white-space:nowrap">pre-opening</FONT> services. </P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TR style = "page-break-inside:avoid">
<TD WIDTH="4%" VALIGN="top" ALIGN="left">4.</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left">Please disclose whether you elected to apply the new revenue recognition standard retrospectively to all or
only to contracts that were not completed as of October&nbsp;1, 2018. Refer to ASC <FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">606-10-65-1(h).</FONT></FONT></FONT> </P></TD></TR></TABLE>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><U>RESPONSE: </U></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">We advise the Staff that we do not believe
this disclosure is necessary, as our accounting treatment of <FONT STYLE="white-space:nowrap">pre-opening</FONT> services was not changed by the new revenue recognition standard. </P>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%" VALIGN="top" ALIGN="left">5.</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left">Please revise your revenue footnote to include the disclosures required by ASC
<FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">606-10-65(i)</FONT></FONT> as it relates to income statement line items affected in the current reporting period by the application of the new revenue recognition standard such as the
accounting reclassification of breakage income. </P></TD></TR></TABLE> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><U>RESPONSE: </U></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">We advise the Staff that our accounting treatment of <FONT STYLE="white-space:nowrap">pre-opening</FONT> services was not changed by the new revenue
recognition standard. Therefore, no income statement line items were impacted upon our adoption of the guidance for licensed store revenue, except for the change in accounting reclassification of breakage income that is included in our current
disclosures. </P>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">U.S. Securities and Exchange Commission </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Division of Corporation Finance </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">May 16, 2019 </P>
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 </P> <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>

<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%" VALIGN="top" ALIGN="left">6.</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left">Please explain to us why you believe recognition of the upfront payment of $7&nbsp;billion from Nestl&eacute;
on a straight-line basis over the estimated economic life of the arrangement provides a faithful depiction of the transfer the promises in licensing arrangement. </P></TD></TR></TABLE>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><U>RESPONSE: </U></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">We advise the Staff that the upfront payment
of $7&nbsp;billion from Nestl&eacute; represents a prepayment for using our brands, trademarks, and trade names during the contractual term of the arrangement. Therefore, we consider that the performance obligation is a promise to a right to access
our intellectual property. ASC <FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">606-10-55-59</FONT></FONT></FONT> provides guidance on the characteristics of symbolic intellectual property: </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">[&#133;] b Symbolic intellectual property. Intellectual property that is not functional intellectual property (that is, intellectual property
that does not have significant standalone functionality). Because symbolic intellectual property does not have significant standalone functionality, substantially all of the utility of symbolic intellectual property is derived from its association
with the entity&#146;s past or ongoing activities, including its ordinary business activities. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Furthermore, ASC <FONT STYLE="white-space:nowrap"><FONT
STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">606-10-55-60</FONT></FONT></FONT> requires that revenue from licensing symbolic intellectual property should be recognized over time if both of the following conditions are met: </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">[&#133;] a Grant the customer rights to use and benefit from the entity&#146;s intellectual property b Support or maintain the intellectual
property. An entity generally supports or maintains symbolic intellectual property by continuing to undertake those activities from which the utility of the intellectual property is derived and/or refraining from activities or other actions that
would significantly degrade the utility of the intellectual property. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">As a consumer products company, our enterprise value is largely derived from our
brand, trade logo, and trade names. As such, we will support, maintain, and protect these symbolic intellectual properties for the foreseeable future and certainly during the term of our arrangement with Nestl&eacute;. From a customer&#146;s
perspective, Nestl&eacute; began accessing the rights to use our brand and trademarks since contract inception and is expected to continue to do so throughout the term of the arrangement in order to market the products effectively. As the vendor in
this arrangement, Starbucks has a license performance obligation that includes continuously providing access to the licenses within the contractual territories. Furthermore, Starbucks obligation to maintain the brand is the same every period
throughout the term, and therefore the ratable recognition pattern is reflective of how the Company satisfies its obligation, which is the same each period. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">We appreciate your consideration of the response provided herein and look forward to hearing from you shortly if you have any additional comments based upon
such response. Please contact either Jill Walker, senior vice president Corporate Financial Services and chief accounting officer (by telephone at <FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">206-318-7267</FONT></FONT> or by
email at jwalker@starbucks.com), or the undersigned (by telephone at <FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">206-318-3139</FONT></FONT> or by email pgrismer@starbucks.com). </P>
</DIV></Center>


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<Center><DIV STYLE="width:8.5in" align="left">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">U.S. Securities and Exchange Commission </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Division of Corporation Finance </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">May 16, 2019 </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"> Page
 6
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<TD WIDTH="100%"></TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Very truly yours,</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">/s/ Patrick Grismer</P></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Patrick Grismer</P> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:10pt; font-family:Times New Roman">executive vice president, chief
financial officer</P></TD></TR>
</TABLE></DIV> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%" VALIGN="top" ALIGN="left">cc:</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left">Mr.&nbsp;Derek Standifer - Deloitte&nbsp;&amp; Touche LLP, Seattle </P></TD></TR></TABLE>
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">Ms.&nbsp;Rachel Gonzalez, executive vice president, general counsel and secretary </P>
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end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
