Profits surge at Starbucks

first_img Profits surge at Starbucks by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesBrake For ItThe Most Worthless Cars Ever MadeBrake For ItMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryBetterBe20 Stunning Female AthletesBetterBeLuxury SUVs | Search AdsThese Cars Are So Loaded It’s Hard to Believe They’re So CheapLuxury SUVs | Search AdsAlphaCute30 Rules That All “Hells Angels” Have To FollowAlphaCuteDefinitionDesi Arnaz Kept This Hidden Throughout The Filming of ‘I Love Lucy’DefinitionTaonga: The Island FarmThe Most Relaxing Farm Game of 2021. No InstallTaonga: The Island Farm KCS-content Show Comments ▼ Share Wednesday 26 January 2011 8:55 pmcenter_img whatsapp COFFEE giant Starbucks posted a 35 per cent rise in operating income yesterday, which nevertheless fell short of analyst forecasts for the full-year as the rising cost of coffee continued to dent margins. The world’s largest coffee chain has seen wholesale coffee prices increase by nearly three-quarters since last summer – due to poor weather, fears over crop failure and rising global demand. The firm reported an operating income of $501.9m (£315m) for the three months to 2 January, up from $370.9m a year earlier. Earnings per share stood at 45 cents, compared with 33 cents last year. Christmas trading, traditionally a strong period for Starbucks, saw a five per cent rise in international sales. The firm hopes to continue its aggressive expansion by opening 500 new stores in 2011, 400 of which will be outside the US. Starbucks shares, which have risen 47 per cent in the last year, lost two per cent in after-hours trading following the results announcement after the New York closing bell. “The strong momentum in our global business in fiscal 2011 positions us to deliver 15 to 20 per cent earnings per share growth compared to last year’s results, and to reaffirm our 2011 guidance despite dramatically higher coffee costs,” said chief financial officer Troy Alstead. Chief executive Howard Schultz credited some of the earnings jump to Starbucks’ foray into pre-packaged instant coffee, which grew 12 per cent in the period and now makes up six per cent of revenue. Tags: NULL whatsapp More From Our Partners Russell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgBiden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgI blew off Adam Sandler 22 years ago — and it’s my biggest regretnypost.comInside Ashton Kutcher and Mila Kunis’ not-so-average farmhouse estatenypost.comPuffer fish snaps a selfie with lucky divernypost.com980-foot skyscraper sways in China, prompting panic and evacuationsnypost.comSidney Crosby, Alex Ovechkin are graying and frayingnypost.comSupermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.comMatt Gaetz swindled by ‘malicious actors’ in $155K boat sale boondogglenypost.comUK teen died on school trip after teachers allegedly refused her pleasnypost.comKiller drone ‘hunted down a human target’ without being told tonypost.comMark Eaton, former NBA All-Star, dead at 64nypost.comlast_img read more