Starbucks Trades Up Following Earnings Report
Starbucks Corporation (NASDAQ: SBUX) reported its Q3 2014 earnings Thursday after the market close, reporting an EPS of $0.67 versus estimated $0.66, beating by $0.01.
EPS were Up 22 percent from the same quarter last year. Revenue came in at $4.15 billion compared to analyst estimates of $4.14 billion, up 11 percent year-over-year.
Starbucks reports global comparable store sales increased of six percent, making it the 18th consecutive quarter of global comp growth of five percent or better for the company.
Solid comp store sales with an increase of six percent globally and seven percent domestically making a record for Q3 revenues of $4.2 billion. Channel Development revenues increase by 13 percent and consolidated operating margin expands to 18 for the quarter, making a new record for Q3.
Announcing 149 new stores to open in the quarter, nine less store openings since Q3.
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