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Starbucks
Corp.
SBUX 0.62%
recorded a record turnover in its last quarter as the coffee giant benefited from higher prices and new store openings.
For its fourth fiscal quarter, the Seattle-based company recorded a 3% increase in its store sales globally, exceeding the 2.4% increase expected by analysts. This growth is due to a 4% increase in the average number of tickets per customer.
Comparable Americas revenues increased 4%, while China's fastest-growing segment grew 1%.
Revenues jumped 11% to $ 6.3 billion, exceeding estimates of $ 6.27 billion.
Shares rose 9.6% to $ 64.25 after the trading session on Thursday. Shares rose 6% over the past year.
Starbucks earned $ 755.8 million, or 56 cents a share, compared to $ 788.5 million, or 54 cents a share, a year ago. Excluding non-recurring items, Starbucks posted a profit of 62 cents per share, ahead of analysts' expectations.
Starbucks Rewards' active members in the United States grew by 15% over the previous year to reach $ 15.3 million. Orders and mobile payments represent 14% of the transactions made by the American company.
For the 2019 fiscal year, the company has guided a growth in its sales figure from 5% to 7%. The company expects global comparable store sales growth to be close to the lower end of the range of 3% to 5%, compared to a 2.5% estimate by analysts.
Starbucks also reported adjusted earnings per share of $ 2.61 to $ 2.66 for the year, compared with a $ 2.63 forecast by analysts. The company also plans to add about 2,100 new stores.
Starbucks recently posted a quarterly growth in same-store sales well below its historical rate of 5% or more in the United States, against competitors up and down. Starbucks has attempted to boost afternoon business and entice guests to come back more often with new deals on food, beverages and the option of using its app mobile.
Write to Aisha Al-Muslim at [email protected]
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