Starbucks Corp.’s net income for the third quarter ended June 29 rose nearly 23 percent, with global same-store sales increasing 6 percent, the company said Thursday.
The increases marked the 18th consecutive quarter of systemwide same-store sales growth at 5 percent or better, the Seattle-based coffeehouse operator said.
Same-store sales at U.S. locations rose 7 percent, while same-store sales for the Americas overall, including Canada and Mexico, rose 6 percent, largely due to a 4-percent increase in average check.
The company opened 344 net new units around the world, ending the quarter with 20,863 locations in 64 countries.
The operator expects to add 1,550 net new units this year, including an increased projection for the Americas by 50 locations, for a total of 650.
3Q NET INCOME
Result: $512.6 million, or 67 cents per share% Increase: 22.7% (from $417.8 million, or 55 cents per share)
3Q REVENUE
Result: $4.2 billion% Increase: 11.2% (from $3.7 billion a year ago)
3Q SAME-STORE SALES
% Increase systemwide: 6%
% Increase in the Americas: 6%
% Increase in Europe, Middle East and Africa: 3%
% Increase in China/Asia Pacific: 7%
Source: Company report
RELATED:
• Starbucks 2Q profit rises 9%
• Starbucks 1Q profit rises 25%
• More restaurant finance news
Contact Lisa Jennings at [email protected].
Follow her on Twitter: @livetodineout
