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Share Name | Share Symbol | Market | Type |
---|---|---|---|
Starbucks Corporation | NASDAQ:SBUX | NASDAQ | Common Stock |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
-0.46 | -0.63% | 72.44 | 72.39 | 72.44 | 72.85 | 71.80 | 72.85 | 21,901,342 | 00:58:29 |
Starbucks Corp. said stronger sales in the U.S. bolstered results in its latest quarter.
The coffee chain on Wednesday reported global comparable-store sales rose 5% in the company's fiscal fourth quarter. Analysts polled by Consensus Metrix had expected a 4% gain on that metric. Comparable sales rose 6% in the U.S., Starbucks said.
Overall, the company said quarterly revenue rose 7% from a year earlier to $6.7 billion.
Starbucks posted a quarterly profit of $802.9 million, or 67 cents a share, up from $755.8 million, or 56 cents a share, last year.
Profit, after adjustments, of 70 cents a share was in line with what analysts polled by FactSet had predicted.
Shares in Starbucks were up 1.6% in afterhours trading. The stock is up about 31% so far this year.
Starbucks also said Wednesday it believes it will earn an adjusted profit of $3 to $3.05 a share for its 2020 fiscal year.
In September, finance chief Patrick Grismer warned the company's profit growth would slow in the year because tax-related benefits wouldn't be repeated.
Starbucks also forecast a 3% to 4% gain in global comparable sales for the 2020 fiscal year.
(END) Dow Jones Newswires
October 30, 2019 16:36 ET (20:36 GMT)
Copyright (c) 2019 Dow Jones & Company, Inc.
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