Starbucks Posts Higher Profit


By Anna Prior

Starbucks Corp. reported fiscal first-quarter earnings that rose 25% as the coffee company recorded an increase in sales.

For the recently started fiscal year, Starbucks raised its per-share earnings guidance to $2.59 to $2.67, compared with its October view of $2.55 to $2.65 a share.

Global same-store sales grew 5%, below the 5.9% growth projected by analysts polled by Consensus Metrix.

Starbucks has recorded stronger sales trends in the U.S. than most of its competitors. The company has noted that the wide adoption of its loyalty program has helped its value perception and driven customer traffic.

Overall, the company reported a profit of $540.7 million, or 71 cents a share, up from $432.2 million, or 57 cents a share, a year earlier. Starbucks in October had forecast per-share earnings of 67 cents to 69 cents.

Net revenue rose 12% to $4.24 billion.

Analysts polled by Thomson Reuters had forecast revenue of $4.29 billion.

Through Thursday's close, the stock has risen 35% in the last 12 months.

Write to Anna Prior at anna.prior@wsj.com

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