Starbucks' profit climbs 34 pct in 4Q
Oct. 30, 2013
NEW YORK (AP) — Starbucks says its profit rose 34 percent in its fiscal fourth-quarter, as the coffee chain attracted more customers around the world.
The Seattle-based company said global sales rose 7 percent at cafes open at least a year, including an 8 percent rise in both the U.S. and Asia.
Starbucks Corp. has managed to keep growing through a mix of measures. It's adding items such as Evolution juices, revamped its food offerings and hiked prices over the summer.
For the quarter, Starbucks said it earned $481.1 million, or 63 cents per share. Analysts expected 59 cents per share. A year ago, the company earned $359 million, or 46 cents per share.
Revenue rose to $3.8 billion, but was short of the $3.81 billion analysts expected.