Starbucks Corp. reported first quarter earnings and same-store sales that topped expectations. But the coffee giant gave a soft earnings outlook for its current quarter.
The chain's comparable store sales rose 8% for the quarter, beating
estimates of 6.9%. Same-store sales in Starbucks’ Americas division
increased 9%, also better than expected
The retailer reiterated its plans to open approximately 1,800 net new
store openings in its current fiscal year, with the Americas division
accounting for roughly 700 (half licensed), and China/Asia Pacific
accounting for approximately 900 (two-thirds licensed).. . . more