Starbucks profit climbs as sales increase
Starbucks profit climbs as sales increase in Americas, Asia
NEW YORK (AP) -- Starbucks Corp. says its profit rose in its second fiscal quarter as the world's biggest coffee company saw sales increase in the Americas and Asia.
The Seattle-based company, which has more than 18,000 locations around the world, said global sales at stores open at least a year rose 6 percent.
The figure rose 6 percent in the Americas region and 8 percent in China and Asia Pacific. In Europe, where Starbucks has struggled, it fell 2 percent.
For the quarter, Starbucks earned $390.4 million, or 51 cents per share. That's up from $309.9 million, or 40 cents per share, a year ago. Not including one-time items, it earned 48 cents per share.
Revenue rose 11 percent to $3.56 billion. Bu that was shy of the $3.58 billion Wall Street expected.
