Starbucks global sales rise 18% to $4.9 billion
The coffee chain reported the financial results for its 13-week fiscal third quarter and 39-week fiscal year to date ended June 28, 2015.
Consolidated net revenues increased 18% over Q3 FY14 to a quarterly record $4.9 billion. Consolidated operating income came up 22% to $938.6 million.
“Starbucks Q3 fiscal 2015 stands as among the strongest and most remarkable quarters in our over 23 years as a public company,” Howard Schultz, chairman and CEO, said.
“The 4% 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."
“Starbucks very strong year over year financial performance in Q3 demonstrates our commitment to delivering best in class financial and operating results while at the same time investing in our future growth - building new stores, renovating existing stores, deploying new technology - investing in our partners and delivering an elevated Starbucks Experience to our customers,” Scott Maw, Starbucks CFO, said.
“We believe that by getting this balance right, we will be able to continue delivering exceptional growth, profitability and increased returns to our shareholders."
Global comparable store sales for the company grew 7%, driven by a 4% increase in traffic. In the Americas comp sales increased 8%; in China/Asia Pacific comp sales rose 11%; while in the EMEA region comp sales grew 3%.
Starbucks Mobile Order & Pay expanded to over 4,000 U.S. company-operated stores in the period, while full deployment to all U.S. company-operated stores are to be expected by the holiday.
The chain also opened 431 new stores in the quarter, with the total store count reaching 22,519.
