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Starbucks Hits Record Sales, Boosted by higher prices



Starbucks
Corp.


SBUX 0.62%

reported record revenues in its last quarter as the coffee giant benefited from higher prices and new stores.

In the fourth quarter of the fourth quarter, the Seattle-based company posted an increase of 3% in the same retail sales globally, and it was expected that 2.4% increased analysts. Growth was driven by an increase of 4% in average credit per customer.

Same-store sales in the Americas segment increased by 4%, while it grew 1

% in China, the fastest growing market in China.

Revenue increased by 11% to 6.3 billion dollars and scored estimates of 6.27 billion dollars.

Shares rose 9.6% to $ 64.25 in demand trading Thursday. Stocks have increased by 6% last year.

Starbucks reported a profit of $ 755.8 million, or 56 cents per share, compared to $ 788.5 million, or 54 cents per share, a year earlier. Excluding non-recurring items, Starbucks earned a profit of 62 cents per share in front of analysts' expectations.

The company's active Starbucks Rewards members in the US increased 15% year-on-year to 15.3 million. Mobile order and pay accounted for 14% of US business-driven transactions.

For fiscal policy in 2019, the company controlled revenue growth of 5% to 7%. The company expects growth in comparable stores near the low end of 3% to 5%, compared with analysts estimates of 2.5%.

Starbucks also ruled adjusted earnings per share of $ 2.61 to $ 2.66 for the fiscal year compared with analysts forecasts of $ 2.63. The company also expects to add around 2100 new stores.

Starbucks posted quarterly revenue growth recently far below the historical rate of 5% or more in the US, as it faces high and low competitors. Starbucks has attempted to run afternoon activities and lure customers to return more often with new food, drink appointments and the ability to use mobile apps.

Write to Aisha Al-Muslim at aisha.al-muslim@wsj.com


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