November 1, 2018 / 8:13 PM / 20 days ago

Starbucks global same-store sales rise more than expected

Nov 1 (Reuters) - Starbucks Corp on Thursday reported a better-than-expected rise in quarterly sales at established cafes, helped by strong growth in the United States and a rebound in China, sending its shares up 5 percent in extended trading.

The world’s biggest coffee chain said global sales rose 3 percent in the fourth quarter ended Sept. 30, higher than the 2.32 percent rise expected on average by analysts, according to IBES data by Refinitiv.

Total net revenue rose to $6.30 billion, beating expectations of $6.27 billion.

However, net income attributable to the company fell to $755.8 million from $788.5 million. (Reporting by Aishwarya Venugopal in Bengaluru; Editing by Anil D’Silva)

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