Skip to Content

Starbucks’ strong US holiday offset by costs, China slump

<i></i><br/>
KMIZ

By DEE-ANN DURBIN
AP Business Writer

Starbucks had a strong holiday season in the U.S., but those results were offset by higher labor and commodity costs and weaker sales in China. U.S. same-store sales, or sales at stores open at least a year, were up 18% over the October-December period a year ago despite higher prices. But same-store sales in China fell 14% as 75% of stores were closed or operating with limited hours. Starbucks’ revenue rose 19% to $8.1 billion in its fiscal first quarter. That was ahead of Wall Street’s forecast. But earnings per share fell short as the company spend more on hiring and training.

Article Topic Follows: AP National Business

Jump to comments ↓

Associated Press

BE PART OF THE CONVERSATION

ABC 17 News is committed to providing a forum for civil and constructive conversation.

Please keep your comments respectful and relevant. You can review our Community Guidelines by clicking here

If you would like to share a story idea, please submit it here.

Skip to content