Friday, November 2, 2018

Starbucks sales surge in fourth quarter on strength in the U.S., but profit shrinks

The Seattle Times
After reporting record fourth-quarter sales Thursday, Starbucks executives seemed confident that they had weathered a tumultuous year and put in place a clear, long-term plan focused on streamlined operations, returning cash to shareholders and growing in the U.S. and China.

The Seattle company said sales at existing U.S. stores rose 4 percent during the quarter, the strongest performance in more than a year for that closely watched measure of retail health. Embedded in that growth, however, was a 1 percent decline in transactions, more than compensated for by a 5 percent increase in the average value of each transaction.. . . more