Starbucks reports record net revenues for last quarter

On 1 November, Starbucks reported record consolidated net revenues of US$6.3 billion for its fiscal fourth quarter (Q4), ending on 30 September, 2018. This represents an 11 per cent growth over the same period last year. “In Q4, Starbucks delivered improved sequential results in both our Americas and China/Asia Pacific segments. We also further set the stage for increased benefits from our ongoing efforts to streamline the company,” Starbucks CFO Scott Maw says. “Each of these factors contributed to the record Q4 results we reported today and position us well for fiscal 2019 and beyond.” Global comparable store sales saw a three per cent increase over the same quarter last year. American comparable store sales increased four per cent and China comparable store sales increased one per cent over the same period. Starbucks says its new pre-ordering app, Mobile Order and Pay, represented 14 per cent of its United States company-operated transactions. The company opened 604 net new stores in Q4 and now operates 29,324 stores across 78 markets. Starbucks returned USF3.6 billion to shareholders through a combination of dividends and share repurchases “Starbucks record Q4 performance reflected meaningful improvement in virtually every critical operating metric compared to Q3,” CEO Kevin Johnson says. “As we enter fiscal 2019, we are executing against a clear growth agenda, with a focus on our long-term growth markets of the US and China. We are also excited about the long-term growth potential of our new global coffee alliance with Nestlé. I’m incredibly proud of our 350,000 Starbucks partners around the world and pleased with the continued progress in our growth agenda.” Across the last 12 months, Starbucks’ global, American, and Chinese comparable store sales increased two per cent over the previous year. Starbucks reported consolidated net revenues of $24.7 billion for the past financial year, up 10 per cent over the prior year.