Starbucks posts strong Q2 growth, boosted by U.S. and China sales

2019-04-26 03:23:19 GMT2019-04-26 11:23:19(Beijing Time) Xinhua English

SAN FRANCISCO, April 25 (Xinhua) -- U.S. coffee chain Starbucks announced Thursday that its net revenues increased 5 percent to 6.3 billion U.S. dollars in the fiscal second quarter of 2019 over the same period of last year.

Starbucks said in its Q2 Fiscal 2019 Results Report that it posted quarterly net income of 663.2 million dollars, or 53 cents per share, up from 660.1 million dollars, or 47 cents per share, from a year ago.

During the quarter, Starbucks's same-store sales went up 3 percent globally, driven by a growth of 4 percent in the United States and 3 percent in China.

Starbucks said the 3-percent sales increase was attributed to a 3-percent growth in average ticket.

The net number of stores rose 7 percent across the globe over the same period of last year, led by a 17 percent-growth in China, said Starbucks.

"Starbucks delivered another quarter of solid operating results, demonstrating that our 'Growth at Scale' agenda is working," said Starbucks President and CEO Kevin Johnson.

He expressed satisfaction about same-store sales growth in the company's two lead markets, the United States and China.

Specifically, same-store sales rose by 4 percent in the Americas and U.S. markets, driven by 4-percent increase in average ticket, while China and Asia Pacific saw a 2-percent growth driven by a 2-percent increase in average ticket.

In China alone, same-store sales rose 3 percent, despite transactions went down by a slight 1 percent.

Starbucks opened 319 net new stores in the second quarter of 2019, up 7 percent over the same period of last year, yielding 30,184 stores at the end of the quarter.

The company said 94 percent of the new stores were launched outside of its home market of the United States.