Starbucks has reported financial results for its 13-week fiscal fourth quarter and 52-week fiscal year ended 29 September 2019.
For Q4, global comparable store sales were up by 5%, driven by a 3% increase in average sales per customer (average ticket) and a 2% rise in like-for-likes (LFL).
Americas and US comparable store sales up 6%, both driven by a 3% rise in average ticket and a 3% rise in LFL sales. International comparable store sales were up 3%, driven by a 3% uplift in average ticket and a 1% increase in transactions; China comparable store sales rose 5%, with LFL transactions up 2%.
The company opened 630 net new stores in Q4, yielding 31,256 stores at the end of the quarter, a 7% increase over the prior year.
Consolidated net revenues of $6.7bn (aprrox £5.2bn) grew 7% over the prior year.
For the full year, global comparable store sales up 5%, driven by a 3% increase in average ticket and a 1% increase in LFL transactions.
Americas and US sales grew 5%, driven by a 3% increase in average ticket and a 2% increase in LFL transactions. International comparable store sales were up 3%, driven by a 2% increase in average ticket and a 1% increase in LFL transactions; China comparable store sales increased 4%, with LFL transactions flat.
For the year, consolidated net revenues of $26.5bn (approx £20.5bn) grew 7% over the prior year.
“I’m very pleased with our strong finish to fiscal 2019, as we sustained positive momentum across each of our business segments,” said Kevin Johnson, president and ceo. “Our US business delivered 6% comparable store sales growth in the fourth quarter, while China grew comparable store sales by 5% and total transactions by 13%.
'Our strong performance throughout fiscal 2019 gives us confidence in a robust operating outlook for fiscal 2020.”
“We are making meaningful progress against our strategic priorities while streamlining the company, bringing more focus and discipline to everything we do.
'The investments we are making for the long term - in our partners, our stores, beverage innovation and digital—are collectively delivering an elevated Starbucks Experience, as evidenced by all-time-high customer connection scores in the fourth quarter. This long-term focus is instrumental to how we are building an enduring company,” concluded Johnson.