Starbucks beats same-store sales expectations, shares rise 2 percent

(Reuters) - Starbucks Corp beat Wall Street estimates for quarterly sales at established cafes on Thursday, as higher prices and customer orders powered a strong growth in the United States, its largest market.

Reuters April 26, 2019 02:06:13 IST
Starbucks beats same-store sales expectations, shares rise 2 percent

Starbucks beats samestore sales expectations shares rise 2 percent

(Reuters) - Starbucks Corp beat Wall Street estimates for quarterly sales at established cafes on Thursday, as higher prices and customer orders powered a strong growth in the United States, its largest market.

Shares of the company rose 2 percent in extended trading.

The world's biggest coffee chain said sales at cafes open at least 13 months in its Americas unit rose 4 percent in the second quarter ended March 31, beating the 3.58 percent rise expected by analysts, according to IBES data by Refinitiv.

Total net revenue rose 4.5 percent to $6.31 billion, but was slightly below the estimate of $6.32 billion.

(Reporting by Aishwarya Venugopal and Nivedita Balu in Bengaluru; Editing by Arun Koyyur)

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