Franchising, retail, business
08/11/2016
Starbucks reported its most profitable quarter and fiscal year ever Thursday, pointing to more diverse offerings and stores opening around the globe -- from Cambodia to Trinidad -- contributing to an 11% leap in annual revenue.
The Seattle-based company said its net income for the fiscal fourth quarter, ended Oct. 2, rocketed to $801 million, up 22.8% from $652.5 million. That helped boost fiscal year net income to $2.8 billion, up 2.2% from $2.7 billion last year.
Starbucks CEO Howard Schultz applauded the results, saying that they "in the face of ongoing economic, consumer and geopolitical headwinds, and the significant investments we continue to make in our people and our business, once again demonstrate the power, relevance and resilience of the Starbucks business and brand.”
Revenue of $5.7 billion, was up 16.2% from $4.9 billion for the quarter. For the year, revenue was $21.3 billion, up from $19.2 billion last year.
For investors, the company reported 54 cents per diluted share in the fourth quarter, up 25.6% from 43 cents a share last year. For the year, Starbucks reported $1.90 a share, up 4.4% from $1.82 a share..
However, the financial results slightly missed analyst revenue expectations of $21.7 billion, or $1.98 per share, according to S&P Global Market Intelligence.
Over the summer, Schultz said he would be raising employee pay and expanding health care benefits for all of its workers in the U.S.
The Seattle based company has been making a play to move into new markets, and to be a destination for more than just those wanting a morning cup of coffee as they dash off to work or school. The menu is featuring tea and cold coffees, and Starbucks products like bottles of cold brew coffee and multi-flavored Keurig pods are increasingly showing up on store shelves.
Teavana Premium Ready-To-Drink teas are headed to the U.S. market next year, and new roasteries are being built in Shanghai, New York City and Tokyo, "all things that will lead to additional growth opportunities for Starbucks going forward,'' says Starbucks President Kevin Johnson.
Store sales internationally jumped 5% for the year, and China remains a key focus for the company, with 2400 stores there and plans to build 500 stores in each of the next five years.
Fonte:http://www.usatoday.com/story/money/2016/11/03/starbucks-earnings/93133758/
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