Friday 25 April 2014

Starbucks global profit perks up 6%

Starbucks has announced a six per cent profit rise in its fiscal first quarter

Starbucks has said its profit rose in its fiscal first quarter as customers stepped up spending at its cafes in the United States and Asia, but its revenue fell short of expectations.

The Seattle-based coffee chain said global sales at cafes open at least a year rose 6%, reflecting an increase in traffic and spending per visit.

The figure is a key metric because it strips out the impact of newly opened and closed locations. In Europe, the figure fell 1%.

For the period October to December, Starbucks earned 432.2 million US dollars (£272.8 million) compared with 382.1 million US dollars (£241.2 million) in the same period a year ago.

Revenue rose 11% to 3.8 billion US dollars (£2.4 billion).

Press Association

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