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Starbucks cafe sales growth beats expectations

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Reuters

(Reuters) - Starbucks Corp reported better-than-expected sales growth at established cafes in the holiday quarter, helped by strength in its Americas division, its largest.

The world's biggest coffee chain said global sales at cafes open at least 13 months rose 8 percent in the first quarter ended Dec. 27, better than the 7.30 percent rise expected by analysts polled by research firm Consensus Metrix.

Total net revenue rose 11.9 to $5.37 billion, the company said on Thursday.

Net income attributable to the company fell to $687.6 million, or 46 cents per share, from $983.1 million, or 65 cents per share.

(Reporting by Subrat Patnaik in Bengaluru; Editing by Sriraj Kalluvila)

 

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First Published: Jan 22 2016 | 2:44 AM IST

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