Starbucks have reported earnings per share (EPS) of US$0.55 for the third quarter (Q3), which represents a jump of 28 per cent from the same period last year. “Starbucks Q3 results represent the best across-the-board third-quarter performance in our 42-year history,” said the company’s Chairman, President and CEO Howard Schultz in a statement.
All of the company’s key regions of activity have reported growth over the past quarter, with net revenues for the Americas segment coming in at US$2.8 billion, an increase of 12 per cent over Q3 in the 2012 financial year. The increase was primarily due to a 9 per cent increase in comparable store sales. Also contributing to the net revenue increase was incremental revenues from 596 net new store openings over the past 12 months. Net revenues for the Europe, Middle East and Africa (EMEA) segment were US$287.2 million in Q3, a 2 per cent increase over the same period last year. Net revenues for the China/Asia Pacific segment were US$233.7 million in Q3, an increase of 29 per cent over Q3 in the 2012 financial year. The increase was primarily due to incremental revenues from 523 net new store openings over the past 12 months and a 9 per cent increase in comparable store sales. In other Starbucks news, the company has partnered with Danone to offer a jointly created and developed selection of new specialty yogurt products in participating Starbucks stores in 2014 and in grocery channels in 2015. The company also announced senior leadership team changes to further accelerate the company's global growth plans., Cliff Burrows was promoted to Group President Americas & US, EMEA & Teavana and John Culver was promoted to Group President China/Asia Pacific, Channel Development & Emerging Brands. In addition, Jeff Hansberry was promoted to President China/Asia Pacific.
