Starbucks sales driven by recovery in the United States

The coffee giant Starbucks has consolidated the recovery of its sales from April to June, in particular in the United States, after a difficult year 2020 because of the pandemic.

Read also: The pandemic continues to weigh on Starbucks coffee sales

The distributor of cappuccino, iced tea and snacks, however, warned that its international growth, in China in particular, was going to be a little less strong than expected over its entire annual financial year.

On Wall Street, the title fell 3.20% in electronic trading following the close of the session.

The chain had suffered greatly from the closure or reduced hours of many of its establishments at the height of the pandemic and teleworking, which limited the consumption of coffee lovers outside the home.

But, as the vaccination campaigns against the Covid-19 progressed, its sales started to rise again at the start of the year.

This trend continued in the spring.

78% increase in turnover

Its revenue jumped 78% to an all-time high of $ 7.5 billion in its third accounting quarter (ending late June).

Its same-store sales, the benchmark in commerce, soared 84% in the United States and 41% elsewhere in the world.

The group has never offered so many places to buy drinks: 33,295 establishments worldwide.

Even though it highlights an increase in spending on employee compensation as well as an increase in costs in its supply chain, Starbucks earned $ 1.15 billion over the period.

He had lost 678 million a year earlier.

Upward revision of forecasts

Starbucks has raised its earnings per share forecast, the benchmark on Wall Street, for the entire accounting year: it is now expected between 3.20 and 3.25 dollars against 2.90 and 3.00 dollars previously.

The company also revised upward its forecast for sales to many comparable stores in the Americas.

But she lowered them for the rest of the world. In China, its second market after the United States, sales are expected to increase by 18% to 20%, while Starbucks previously expected growth of 27% to 32%.