News: Starbucks profit up on unexpectedly strong US sales

C-Suite

Starbucks profit up on unexpectedly strong US sales

According to a Business Standard report, Starbucks Corp on Thursday posted a bigger than expected jump in quarterly profit after new 'Refresher' fruit beverages and seasonal Frappuccino iced drinks helped drive more visits to its shops in the United States, its top market.

According to a Business Standard report, Starbucks Corp on Thursday posted a bigger than expected jump in quarterly profit after new 'Refresher' fruit beverages and seasonal Frappuccino iced drinks helped drive more visits to its shops in the United States, its top market.

The world's biggest coffee chain also raised its full-year profit forecast, sending shares soaring almost 6% in after-hours trade. Global sales at Starbucks cafes open at least 13 months jumped 8%, versus the 5.8% average increase analysts' expected, according to Consensus Metrix.

In the US-dominated Americas region, which contributes about three-quarters of Starbucks' revenue, same-store sales were up 9%, far better than analysts' average estimate for a 6.1% rise.

Read the BS report here
 

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Topics: C-Suite, #International

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