Starbucks Earnings Suggest It Is Unfazed by New Competition
Photo Caption: Starbucks barista hands customer her prepared coffee.
Skift Take
The coffee chain beat analysts' estimates across the board on Thursday. Perhaps it is not growing as fast as we originally predicted.
For at least one financial quarter, Starbucks has quieted the naysayers wondering how the coffee maker will grow its U.S. business and cope with new overseas competition.
The chain reported global comparable store sales growth of 4 percent for the fiscal first quarter, ending Dec. 30.
Same-store sales in the Americas increased by 4 percent, on the back of higher average checks. Meanwhile, comparable sales in China, Starbucks' fastest-growing market, also increased by 1 percent amid competition from startups like Luckin Coffee.
The company additionally disclosed revenue of $6.6 billion in the period, up 9.9 percent, which a
