ISTANBUL: US-based coffeehouse chain Starbucks saw its sales decrease for the second consecutive quarter, according to its financial results statement released Tuesday.
“Global comparable store sales declined 3 percent, driven by a 5 percent decline in comparable transactions, partially offset by a 2 percent increase in average ticket,” it said.
While North American store sales declined 2 percent, US store sales decreased 2 percent, China store sales dove 14 percent and international store sales fell 7 percent, according to the statement.
The company said it opened 526 net new stores in the third quarter of the 2024 fiscal year, which corresponds to the April-June period of this year, ending the period with a total of 39,477 stores globally.
“At the end of Q3, stores in the US and China comprised 61 percent of the company’s global portfolio, with 16,730 and 7,306 stores in the US and China, respectively,” the statement said.
The company saw only a 1 percent revenue increase in North America, while intern
ational revenues declined almost 7 percent to USD1.84 billion from USD1.97 billion year on year, according to the financial results.
Source: Philippines News Agency