Starbucks' profits, earnings set record
SEATTLE — Starbucks keeps getting bigger, quickly.
The Seattle coffee behemoth Thursday unveiled record quarterly profit and revenue, the result of a big jump in sales, especially in the Americas and Asia.
A 4 percent increase in traffic drove the 7 percent jump in sales at stores open at least a year. That’s a big deal for a company with more than 22,000 stores.
CEO Howard Schultz said it represents 23 million more transactions than last year for the same quarter ended in June.
It’s the second quarter in a row where comparable sales topped 7 percent — underscoring how Starbucks is figuring out new opportunities to draw in customers, from a rapidly growing rewards program to expanded food offerings.
