Edit

Starbucks reports 8% comp-sales gain in Q3

Starbucks’ comp sales rose 8 percent in its Americas region during the third quarter ended June 28, the company said Thursday.

The Americas segment, which includes the company’s core U.S. market, also saw customer traffic climb by 4 percent over the same period last year.

Net revenues for the region increased 12 percent year over year, to $3.4 billion, driven in part by incremental revenues from the 658 net locations the company added during the past 12 months.

“Starbucks' very strong year-over-year financial performance in Q3 demonstrates our commitment to delivering best-in-class financial and operating results while at the same time investing in our future growth—building new stores, renovating existing stores, deploying new technology—investing in our partners and delivering an elevated Starbucks Experience to our customers,” Starbucks CFO Scott Maw said in a statement.

In the U.S., Starbucks has expanded its mobile-ordering and payment offerings, and has made efforts to grow the perks of its customer-loyalty program with recently announced partnerships with The New York Times and the ride-sharing app Lyft.

The company earlier this month launched a multi-company youth employment coalition with the goal of hiring and training more than 100,000 U.S. teens and young adults who face “systemic barriers” to education and jobs by 2018.
 

Trending

More from our partners