Starbucks benefits from rising prices of freshly brewed coffee: the coffee chain has increased its business goals after the successful start of the year. In the three months to the end of March, revenues rose nearly five percent to $ 6.3 billion, fueled by strong customer demand in the US domestic market.
The company said on Thursday, after the US market closed in Seattle, Washington. Profit rose from 660 million to 663 million dollars. Starbucks benefits from higher prices, new offers for food and drinks, and delivery service in the United States.
Prices rose without prior notice
In the United States, the chain increased its prices for freshly brewed coffee last June for 10 to 20 cents without prior notice. It was not just raw coffee prices that declined, according to Starbucks, but also for rental and staff costs.
Kevin Johnson Group Executive Director was pleased and in particular noted customer growth in major markets in the US and China. Starbucks opened a total of 319 new stores around the world, bringing the number of stores to 30,184 at the end of the quarter, up seven per cent over the previous year.
Does the share price reach a record high?
The income guide for the whole year rose to $ 2.75 to $ 2.79 per share. This was well received by investors, with the action initially up to 2% per hour. Since the beginning of the year, the price has already been increased by about 20 percent. He could reach a new record in US trade on Friday.
(DV / SDA)