Starbucks’ profit up on strong sales, traffic Starbucks Corp.’s fiscal first-quarter earnings soared 82 percent as the coffee chain attracted more customers who snapped up an expanded offering of food and drinks during the holidays. Starbucks said it earned $983.1 million in the quarter ended Dec. 28, or $1.30 per share. That compared with $540.7 million or 71 cents per share, a year earlier. On a per-share basis, Starbucks said it had profit of $1.30. Earnings, adjusted for non-recurring gains, were 80 cents per share. The results met Wall Street expectations. The average estimate of analysts surveyed by Zacks Investment Research was also for earnings of 80 cents per share. The coffee chain posted revenue of $4.8 billion in the period, beating Street forecasts. Analysts expected $4.79 billion, according to Zacks. Revenue at its stores open at least a year rose 5 percent. Customer traffic was up 2 percent in the quarter, compared with 1 percent in the previous period. Capital One Capital One Financial Corp. reported fourth-quarter profit of $999 million. The McLean, Va.-based company said it had profit of $1.73 per share. Earnings, adjusted to account for discontinued operations, came to $1.68 per share. The results did not meet Wall Street expectations. The average estimate [...]The post Starbucks’ profit up on strong sales, traffic appeared first on Ohio news. ohianews/starbucks-profit-up-on-strong-sales-traffic/
Posted on: Fri, 23 Jan 2015 02:20:17 +0000
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