Food Retailing / Supermarkets

Starbucks Brews Strong Sales

Same-store sales up for fourth quarter in a row

Published

14 years ago

November 8, 2010

VMSD Staff

Starbucks Corp. (Seattle) reported its profits grew 86 percent for the quarter ended Oct. 3 as worldwide same-store sales increased 8 percent, reports The Wall Street Journal.

“I believe 2010 will prove to be a defining year in Starbucks history,” Starbucks ceo Howard Schultz told investors Thursday on a conference call.

The company attributes sales of Via instant coffee and customized frappuccinos as driving traffic to stores.

The Seattle-based coffee chain boosted its fiscal-year earnings target to a range of $1.41 to $1.47 a share from $1.36 to $1.41.

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