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Thursday, Jul 25
More on Starbucks' (SBUX) FQ3: The company reported broad sales gains across regions with...
More on Starbucks' (SBUX) FQ3: The company reported broad sales gains across regions with comparable store sales rising 8% to easily beat its 5.6% pace from a year ago. By region, China/Asia Pacific stood out with the rate of traffic growth doubling Q/Q. Customers remained loyal, pre-loading cards faster than ever and absorbing price hikes. Starbucks opened 341 net new stores during the period. The news is just as rosy for FY14, with Starbucks forecasting double-digit revenue growth and operating margin improvement of approximately 150-200 bps over FY13. Shares +6.1% AH to $72.35 - a higher level than they have ever closed at.