Starbucks' global comparable store sales drop in April-June quarter

Coffee chain reports 6th consecutive quarterly decline in US same-store sales

By Dilara Zengin Okay and Mucahithan Avcioglu

WASHINGTON/ISTANBUL (AA) - US coffee chain Starbucks' global comparable store sales decreased a larger-than-expected 2% year-on-year in the April-June quarter, according to the firm's financial results released Tuesday.

Comparable store sales in North America also fell by 2%.

Starbucks' international comparable store sales were flat in the same period, while sales in China increased by 2%.

The coffee chain's revenue rose 3.8% year-over-year to $9.5 billion in the three months ending June 29.

The company's profit, however, dropped 47% to $558.3 million during the same period.

The coffee chain's earnings per share also decreased 47.3% year-over-year to $0.49.

Starbucks, one of the companies facing protests and boycotts over Israel's attacks on Gaza, also reported its sixth consecutive quarterly decline in US same-store sales.

Kaynak:

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