Thursday, January 21, 2016

Starbucks Q1 profit tops; on track for 1,800 new stores in 2016

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

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