Starbucks fiscal profit up 22 percent in Q3
(MENAFN) The world's biggest coffee-shop chain Starbucks said it posted a fiscal profit increase of 22 percent in the third quarter, driven by sales gain in the Americans, Arab News reported.
The chain's net income surged to USD626.7 million, the Seattle-based firm said in a statement. Excluding some items, profits were USD641.9 million as analysts estimated around USD627 million.
Same-store sales registered an increase of 8 percent in the Americas region, which includes the US, Canada and Latin America, driven by a 4 percent increase in customer traffic.
"That increase in traffic is representative of the fact that we are reaching out to more and more customers," Chief Operating Officer Kevin Johnson said in an interview.
The chain's net income surged to USD626.7 million, the Seattle-based firm said in a statement. Excluding some items, profits were USD641.9 million as analysts estimated around USD627 million.
Same-store sales registered an increase of 8 percent in the Americas region, which includes the US, Canada and Latin America, driven by a 4 percent increase in customer traffic.
"That increase in traffic is representative of the fact that we are reaching out to more and more customers," Chief Operating Officer Kevin Johnson said in an interview.
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