Starbucks Corporation has reported financial results for its 13-week fiscal third quarter and 39-week fiscal year to date ended June 29, 2014, with strong comparable store sales increases of 6% globally and 7% in the U.S. driving record Q3 revenues of $4.2 billion.
The company is flourishing and expanding worldwide: no fewer than 344 new stores opened in the quarter, with a total of 20,863 stores now operating across 64 countries. Net new store openings now expected to be approximately 1,550 for the year.
Q3 2014 Highlights
• Consolidated net revenue growth accelerated to 11%; net revenues totalled a Q3 record $4.2 billion
• Global comparable store sales increased 6%, marking the 18th consecutive quarter of global comp growth of 5% or greater
- Americas comp sales increased 6%; U.S. comp sales increased 7%
- EMEA comp sales increased 3%
- China/Asia Pacific comp sales increased 7%
• Consolidated operating income increased 25%, to a Q3 record $769 million
• Consolidated operating margin expanded 200 bps, to a Q3 record 18.5%, primarily driven by sales leverage
• Channel Development revenues increased 13%; operating margin expanded 800 bps to 37.1%
• Earnings per share increased 22% to a Q3 record $0.67 per share
• The company opened 344 net new stores globally, ending the quarter with 20,863 stores across 64 countries