Gift card sales helped Starbucks comps grow 9%

starbucks holiday gift card

Starbucks continued its feverish sales climb during the quarter ended Dec. 27, posting a year-over-year same-store sales increase of 9 percent for U.S. restaurants.

About four points of the increase came from traffic gains, the company said.

The coffee giant also indicated that it wasn’t walloped like other U.S. chains with a large presence in China by the economic slowdown in the Asian mega-market. Comps for coffee shops there rose 5 percent, and all but a point of that rise came from traffic increases.

Globe-wide comps rose 8 percent.

Overall, revenues for the 13-week period grew 12 percent, to $5.4 billion. Operating income rose 16 percent, to $1.1 billion.

The business was helped domestically by a busy holiday period. About $1.9 billion was loaded onto Starbucks cards, which one of every six American adults received as a year-end gift.

Members help make our journalism possible. Become a Restaurant Business member today and unlock exclusive benefits, including unlimited access to all of our content. Sign up here.

Multimedia

Exclusive Content

Financing

In Red Lobster, a symbol of the challenges with casual dining

The Bottom Line: Consumers have shifted dining toward convenience or occasions, and that has created havoc for full-service restaurant chains. How can these companies get customers back?

Financing

Crumbl may be the next frozen yogurt, or the next Krispy Kreme

The Bottom Line: With word that the chain’s unit volumes took a nosedive last year, its future, and that of its operators, depends on what the brand does next.

Technology

4 things we learned in a wild week for restaurant tech

Tech Check: If you blinked, you may have missed three funding rounds, two acquisitions, a “never-before-seen” new product and a bold executive poaching. Let’s get caught up.

Trending

More from our partners