Starbucks global net revenues rise 11% for Q3

Starbucks has today reported financial results for its 13-week fiscal third quarter ending 1 July 2018, showing that global comparable store sales increased 1%, driven by a 3% increase in average ticket

During the period, the group recorded consolidated net revenues of $6.3bn (£4.8bn), up 11% over the prior year.

Starbucks opened 511 net new stores in Q3, and now operates 28,720 stores across 77 markets.

Kevin Johnson, Starbucks ceo and president, said, “Starbucks record performance in Q3 reflects successful execution against our strategic growth priorities and our commitment to deliver predictable, sustainable growth at scale - and meaningful increases in long-term value - for our shareholders.

“We remain confident in our global growth strategies, in the sustainability of our leadership position around all things coffee and tea and in our leadership teams around the world to navigate our next phase of growth.”

Scott Maw, cfo, added, “Starbucks record Q3 revenues and profits once again reflect the underlying strength of the Starbucks business and brand all around the world.

“We continue to grow share in virtually every market and channel in which we operate at the same time that our streamline initiatives are enabling us to sharpen our focus - and leverage our resources - against our highest value, long-term growth opportunities.”