Jan 24 Starbucks Corp reported higher
quarterly profit on Thursday, after customers in the United
States, its top market, spent more than expected during the
winter holiday season, when consumers worried about the budget
standoff in Washington.
The world's biggest coffee chain reported net earnings of
$432.2 million, or 57 cents per share, for the fiscal first
quarter that ended Dec. 30, matching the average analyst
estimate compiled by Thomson Reuters I/B/E/S. That was up from
$382.1 million, or 50 cents per share, a year earlier.
Overall revenue jumped almost 11 percent to $3.80 billion
during the quarter, which is Starbucks' biggest for sales.
Global sales at stores open at least 13 months were up 6
percent - topping the 5.5 percent rise analysts polled by
Consensus Metrix had expected. Those sales were helped by a 4
percent increase in traffic and a 2 percent increase in average
spending per visit.
Same-store sales rose 7 percent in the U.S.-dominated
Americas region, topping analysts' estimate of 5.9 percent.
Starbucks' Americas business contributed 75 percent of total
revenue for the fiscal year that ended Sept. 30.
Starbucks shares dipped 3 cents to $54.51 in after-hours