Starbucks had an overall positive fourth fiscal quarter as well. The company reported EPS of $0.79 vs $0.76 expected.
The company’s revenue grew to $5,010.9 billion in the quarter ending December 29th 2019, up by 9 per cent from the recorded $4,612.5 billion a year prior.
Starbucks’ CEO and President Kevin Johnson commented on the report by stating that:
“Building on solid business momentum from fiscal 2019, Starbucks performed very well throughout the first quarter, including one of the strongest holiday seasons in the history of our company. As a result, we are off to a strong start in fiscal 2020. […] Our growth was fueled by a healthy balance of comparable sales growth and new store development, as well as continued expansion of our Global Coffee Alliance with Nestlé. […]”
Indeed, the company experienced growth in all major sectors. Starbucks reported noticeable increases in the sales of its membership cards; many new stores were opened in the previous quarter, and the brand's popularity grew in China, thereby boosting the overall demand there.
Starbuck’s success in China should be mentioned as it is an indication that apart from the tech industry (the example with Apple), the US retail industry, too, is finding moderate success there despite the heightened trade tensions at the time.
Starbucks’ share price opened lower at -1.07 per cent during the market open today.