Starbucks Corp. reported fiscal first-quarter earnings that rose
25% as the coffee company recorded an increase in sales.
For the recently started fiscal year, Starbucks raised its
per-share earnings guidance to $2.59 to $2.67, compared with its
October view of $2.55 to $2.65 a share.
Global same-store sales grew 5%, below the 5.9% growth projected
by analysts polled by Consensus Metrix.
Starbucks has recorded stronger sales trends in the U.S. than
most of its competitors. The company has noted that the wide
adoption of its loyalty program has helped its value perception and
driven customer traffic.
Overall, the company reported a profit of $540.7 million, or 71
cents a share, up from $432.2 million, or 57 cents a share, a year
earlier. Starbucks in October had forecast per-share earnings of 67
cents to 69 cents.
Net revenue rose 12% to $4.24 billion.
Analysts polled by Thomson Reuters had forecast revenue of $4.29
billion.
Through Thursday's close, the stock has risen 35% in the last 12
months.
Write to Anna Prior at anna.prior@wsj.com
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