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Starbucks launches over 300 stores in the first three months of 2019

Starbucks. South Terminal. Gatwick Airport,Photo: Zute Lightfoot

Starbucks has announced that Americas and US comparable store sales increased 4% during its fiscal second quarter, driven by a 4% rise in average ticket value.

The company opened 319 net new stores in the three months to 31 March 2019, yielding 30,184 stores at the end of the quarter, a 7% increase over the prior year.

94% of net new store openings were outside of the US while 88% were licensed.

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Consolidated net revenues of $6.3 billion grew 5% over the prior year.

Kevin Johnson, president and CEO of Starbucks, said: “We are especially pleased with our comparable store sales growth in our two lead markets, the US and China, where we are also continuing to drive strong new store development with industry-leading returns. With solid first-half financial results, we are on track to deliver on our full-year commitments.”

Johnson said Starbucks remains focused and disciplined in the execution of its three key strategic priorities: accelerating growth in its targeted markets of the US and China, expanding the global reach of the Starbucks brand through its  Global Coffee Alliance with Nestlé, and increasing shareholder returns.

“With our efforts to streamline the company and elevate the Starbucks brand, we are not only positioning the company to deliver more predictable and sustainable operating results but are also building Starbucks to be an enduring company that creates meaningful value for shareholders for decades to come,” added Johnson.

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Andrew Seymour

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