Posted on Nov 3, 2023
Starbucks hits record profits with $9.4 billion quarter
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Pumpkin spice really put the bucks in Starbucks. The Seattle-based coffee giant just reported record-breaking numbers from its most recent quarter.
“Our Reinvention is moving ahead of schedule, fueling revenue growth, efficiency and margin expansion,” Starbucks CEO Laxman Narasimhan said in a statement. “Notably, we continue to see the positive impact of our Reinvention on our partner and customer experiences, proof points that we can continue to create, grow and strengthen our business while creating value for all."
Narashimhan added that despite uncertainty in the months ahead, he believes this momentum can be sustained.
Starbucks' fourth fiscal quarter ended Oct. 1. During that 13-week timeframe, it pulled in a record $9.4 billion in net revenue, an 11% rise over the previous quarter. That includes an 8% rise in North American sales, and 5% internationally.
“Our Reinvention is moving ahead of schedule, fueling revenue growth, efficiency and margin expansion,” Starbucks CEO Laxman Narasimhan said in a statement. “Notably, we continue to see the positive impact of our Reinvention on our partner and customer experiences, proof points that we can continue to create, grow and strengthen our business while creating value for all."
Narashimhan added that despite uncertainty in the months ahead, he believes this momentum can be sustained.
Starbucks' fourth fiscal quarter ended Oct. 1. During that 13-week timeframe, it pulled in a record $9.4 billion in net revenue, an 11% rise over the previous quarter. That includes an 8% rise in North American sales, and 5% internationally.
Starbucks hits record profits with $9.4 billion quarter
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Posted 6 mo ago
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PO1 William "Chip" Nagel good day Brother William, always informational and of the most interesting. Thanks for sharing, have a blessed day!
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PO1 William "Chip" Nagel and they want to fight workers right to organize....
Now you know the rest of the story...
"Starbucks reported record revenue in its fourth quarter as it improved sales and efficiency at its existing stores and opened hundreds of new ones. Revenue for the July-September period rose 11% to $9.4 billion. That surpassed Wall Street’s expectation of $9.3 billion, according to analysts polled by FactSet."
Now you know the rest of the story...
"Starbucks reported record revenue in its fourth quarter as it improved sales and efficiency at its existing stores and opened hundreds of new ones. Revenue for the July-September period rose 11% to $9.4 billion. That surpassed Wall Street’s expectation of $9.3 billion, according to analysts polled by FactSet."
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