Starbucks brings in US$4.2 billion in revenue in 13 weeks

Starbucks reported US$4.2 billion in net revenue for the third quarter of the financial year. That figure marks an 11 per cent growth over the same time last year. The US coffee giant’s Asia Pacific segment continues to see the strongest growth, with a 23 per cent increase in revenue to US$288 million. The EMEA segment, which was reporting nul and 1 per cent revenue growth in 2012 and 2013, seems to now be playing catch-up. The segment reported a 13 per cent increase in revenue over the same quarter a year prior, hitting US$324 million. Meanwhile the Americas – Starbucks’ strongest market accounting for $3 billion of the company’s revenue – saw a 10 per cent increase in revenue. The company noted in its quarterly report that the majority of revenue increases can be attributed to the 6 per cent growth in global comparable store sales, as well as incremental revenues from an astounding 1654 news stores that the company opened in the past 12 months. In the quarter, the company opened 149 net new stores in the Americas, 37 in EMEA, and 160 in China/Asia Pacific. Starbucks reported that its operating income increased 25 per cent, driven by sales leverage and lower commodity costs.