Consolidated net revenue increases 9 percent, reaching $5 billion
.svg?width=1280&auto=webp&quality=95&format=jpg&disable=upscale "Nation's Restaurant News")
Starbucks Corp. second-quarter same-store sales increased 6 percent globally, including a 7-percent increase in the Americas region that includes the U.S., the company reported Thursday.
The 6-percent jump in same-stores sales worldwide included a 4-percent increase in ticket and 2-percent growth in traffic.
The Seattle-based coffeehouse operator said consolidated systemwide revenue increased 9 percent for the March 27-ended quarter, to a record $5 billion.
In the Americas region, transactions grew 3 percent, while ticket increased 5 percent.
Revenue in the Americas grew 10 percent, to $3.5 billion.
The China Asia Pacific region saw sales slow somewhat, with same-store sales rising 3 percent, including a 2-percent hike in transactions and 2-percent growth in ticket.
The company said revenue in China specifically rose 18 percent, to $678 million, with a 5-percent increase in transactions.
Howard Schultz, Starbucks chairman and CEO, said the result, “underscores the strength of the Starbucks brand and the resiliency of our global retail and consumer packaged goods businesses.
“Loyalty, technology and innovation are continuing to fuel our digital flywheel and propel our business forward around the world,” Schultz added in a statement.
In the Europe, Middle East and Africa, or EMEA, region, same-store sales increased 1 percent, entirely a result of ticket increases.
Channel development, including the chain’s packaged coffee and ready-to-drink beverages, grew 8 percent in net revenue, to $461.2 million, primarily driven by an increase in single-serve product sales.
Starbucks added a net 350 new units during the quarter, including the closure of 132 licensed locations in Target stores in Canada, for a total of 23,921 units worldwide.
In fiscal 2016, which has an extra week, Starbucks reiterated its guidance of opening about 1,800 net new units, including 700 locations in the Americas, half of which will be licensed.
Same-store sales are expected to be somewhat above mid-single digits for the year.
This week, Starbucks announced an agreement with AmRest Holdings SE, which will acquire company-operated stores in Germany. AmRest operates about 100 licensed units in the Czech Republic, Poland, Hungary, Bulgaria and Romania.
Contact Lisa Jennings at [email protected]
Follow her on Twitter: @livetodineout
