Starbucks Global Sales Rise 6 Percent
Starbucks reported an increase in same-store sales for the quarter. The company is attempting to manage consumer sentiment in the United States. The report follows a period of high demand for seasonal products like pumpkin spice lattes. Starbucks reported quarterly revenue of 9.5 billion US dollars. Growth was described as tepid outside of the United States. The report suggests the American economy remains robust despite higher fuel prices. Starbucks plans to open an additional 600 stores worldwide, according to the company's CEO during an earnings call. This expansion will bring the coffee house chain's total to more than 41,000 stores globally. The company is scheduled to release further earnings news on Wednesday. Earnings news is expected this Wednesday. The company attributed the growth to improved service following the addition of more employees during rush periods.
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Sources · 7 independent
“Starbucks they've just reported trying to get a handle on them. There's a bit of a gauge I suppose on consumer sentiment... Same store sales are up there.”
“revenue for the quarter was 9.5 billion US dollars... the growth was a bit more tepid according to this report, but nonetheless it does highlight that the American economy... is still pretty robust.”
“The coffee house chain says it plans to open an additional 600 stores around the world, giving Starbucks more than 41,000 stores globally.”
“Starbucks says global sales in the last quarter rose more than 6%. The coffee giant says customers are responding to improved service with more employees added during rush times.”
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