Starbucks reported a 26-per-cent rise in second-quarter profits yesterday, roughly in line with Wall Street’s expectations.
The world’s largest coffee chain said that it earned 390 million dollars in the quarter, up from 310 million a year earlier as sales jumped 11 per cent to 3.56 billion dollars.
Growth was strong in the US where same-store sales rose 7 per pent, and in China and Asia-Pacific where revenue was up 8 per cent.
However economic challenges dented sales in Europe where revenue was down by 2 per cent.