Skip navigation
Starbucks 3Q global same-store sales rise 7 percent

Starbucks 3Q global same-store sales rise 7 percent

Company reports strong traffic increases across all regions

Starbucks Corp. reported a 7-percent increase in global same-store sales for the third quarter ended June 28, driven by a 4-percent increase in traffic, the Seattle-based operator said Thursday.

In the Americas region, which includes Starbucks’ core market of the U.S., same-store sales rose 8 percent on a 4-percent increase in traffic.

In the China/Asia Pacific region, same-store sales climbed 11 percent, with a 10-percent increase in traffic, the company said. In Europe, the Middle East and Africa, or EMEA, same-store sales grew 3 percent, including a 2-percent increase in traffic.

“Starbucks Q3 fiscal 2015 stands as among the strongest and most remarkable quarters in our over 23 years as a public company,” said Howard Schultz, Starbucks chairman and CEO. “The 4-percent increase in global transactions we reported equates to our having served an additional 23 million customer occasions in Q3 of this year over last year, clearly evidencing a continuation of the strong momentum we have seen across our business and around the world this fiscal year.”

In the U.S., mobile ordering and payment expanded to more than 4,000 company-operated locations during the quarter, and officials said all approximately 7,000 company-owned units will offer it by the holiday season.

Starbucks added 431 net new locations during the quarter, reaching a total worldwide unit count of 22,519 locations.

Consolidated revenue increased 18 percent, to $4.9 billion, which was driven primarily by incremental revenue from the acquisition of Starbucks Japan last year, as well as the increase in same-store sales and the opening of 1,592 net new restaurants over the past 12 months.

Net earnings attributable to Starbucks rose 22 percent, to $626.7 million, or 41 cents per share, compared with $512.6 million, or 34 cents per share, a year ago.

Starbucks announced an agreement with PepsiCo Inc. for the marketing, sales and distribution of a “locally-relevant portfolio” of ready-to-drink coffee and energy products in Latin America.

In the U.S., the company announced a partnership with ride-sharing app Lyft. Loyalty club members can earn Starbucks “Star” rewards by using Lyft.

The move is another example of Starbucks efforts to build a robust digital ecosystem around its loyalty program. Earlier this week, the company expanded access to The New York Times for loyalty members.

For the year, Starbucks expects to add a total of 1,650 new units, including about 600 locations in the Americas region, about half of which will be licensed. In Europe, the Middle East and Africa, or the EMEA region, 200 units are expected to open, with another 850 locations in the China/Asia Pacific region.

Global same-store sales for the year are expected to increase in the mid-single digits, the company said.

Contact Lisa Jennings at [email protected].
Follow her on Twitter: @livetodineout

Hide comments

Comments

  • Allowed HTML tags: <em> <strong> <blockquote> <br> <p>

Plain text

  • No HTML tags allowed.
  • Web page addresses and e-mail addresses turn into links automatically.
  • Lines and paragraphs break automatically.
Publish