Starbucks Corporation today reported financial results for its 13-week fiscal fourth quarter and 52-week year ended 30 September 2018.
For Q4, global comparable store sales increased 3%, driven by a 4% increase in average ticket, and consolidated net revenues of $6.3bn (£4.8bn) up 11% over the prior year.
Streamline-driven activities included the consolidation of the acquired East China business, partially offset by licensing its CPG and foodservice businesses to Nestlé following the close of the deal on 26 August 2018, Teavana mall store closures, and the conversion of certain international retail operations from company-owned to licensed models
The company opened 604 net new stores in Q4 and now operates 29,324 stores across 78 markets.
For the year, global comparable store sales increased 2%, driven by a 3% increase in average ticket, and consolidated net revenues of $24.7bn (£18.9bn), up 10% over the prior year.
CEO Kevin Johnson said, 'Starbucks record Q4 performance reflected meaningful improvement in virtually every critical operating metric compared to Q3.
“As we enter fiscal 2019, we are executing against a clear growth agenda, with a focus on our long-term growth markets of the US and China. We are also excited about the long-term growth potential of our new Global Coffee Alliance with Nestlé.
'I’m incredibly proud of our 350,000 Starbucks partners around the world and pleased with the continued progress in our growth agenda.”
CFO Scott Maw said, “In Q4, Starbucks delivered improved sequential results in both our Americas and China/Asia Pacific segments. We also further set the stage for increased benefits from our ongoing efforts to streamline the company. Each of these factors contributed to the record Q4 results we reported today and position us well for fiscal 2019 and beyond.
'As always, credit for Starbucks performance belongs to our store partners all around the world who proudly wear the green apron and deliver an elevated Starbucks Experience to our customers, every day.”