Seattle: US coffee chain Starbucks’ global comparable store sales decreased a larger-than-expected 2 percent year-on-year in the April-June quarter, according to the firm’s financial results released Tuesday. Comparable store sales in North America also fell by 2 percent. Starbucks’ international comparable store sales were flat in the same period, while sales in China increased by 2 percent.
According to Philippines News Agency, the coffee chain’s revenue rose 3.8 percent year-over-year to USD 9.5 billion in the three months ending June 29. The company’s profit, however, dropped 47 percent to USD 558.3 million during the same period. The coffee chain’s earnings per share also decreased 47.3 percent year-over-year to USD 0.49.
Starbucks, one of the companies facing protests and boycotts over Israel’s attacks on Gaza, also reported its sixth consecutive quarterly decline in US same-store sales.
