Starbucks, one of the world’s largest coffee cafe chains, has posted a 10 per cent increase in net revenues at $2,785.7 mn for the second quarter ended April 3, 2011.
The increase was driven primarily by a seven percent rise in global comparable stores sales.
For the period under review, the company’s total operating expenses stood at $376.1 mn, while the EPS increased 21 per cent to $0.34.
“Our sales, traffic and customer trends all point to the expanding power of the Starbucks business and brand. And our 40th anniversary celebration continues to resonate around the world, driving strong engagement among our partners and our customers,” said Howard Schultz, chairman, president and ceo, Starbucks.
Troy Alstead, CFO, Starbucks, said, “The underlying health of our business has never been better and our second quarter results continue to demonstrate this strength.”