3 Huge Things Starbucks Absolutely Nailed Last Quarter
Starbucks (NASDAQ: SBUX) reported its fiscal third-quarter results on Thursday after market close, and they beat analysts' expectations pretty much across the board. The company grew net sales by 8%, and delivered some of its strongest comps growth (sales at stores open more than one year) in years.
That growth came from the two markets that management continues to tout as its most important: The U.S., its largest and biggest source of profits, and China, its fastest growing, which is expected to eventually surpass the U.S. for earnings.
Moreover, Starbucks' profits and operating results improved as a result of its efforts to streamline its business, helping deliver incremental profits far higher than revenue growth.
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