News Brief
Starbucks Posts Strong Sales, Traffic Grains
Apr 21, 2010, 6:33 PM
America is loving its coffee again: Starbucks says its second-quarter sales jumped 9% to $2.5 billion, including a 7% increase in comparable-store sales in the U.S.
Earnings for the Seattle-based company came in at $217.3 million, compared with $25 million in the same period a year ago, and the company raised its financial forecasts for the year.
"Strong revenue growth, driven by significant improvement in comparable store sales growth, combined with continued financial discipline, enabled Starbucks to achieve record results in the quarter," EVP/CFO Troy Alstead says in its release. "We are pleased with the strong improvement in traffic in our U.S. stores, and consistent, sequential traffic growth in our International business."--Sarah Mahoney
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