03292017Wed
Last updateFri, 24 Mar 2017 12pm

 

Starbucks sales soar

Starbucks has seen global sales increase by 18% in the quarter to 28 June.


As a result of new store openings, the coffee store chain made £2.8bn in its third quarter earnings.

Like-for-like sales increased by 7% and 431 new stores were opened in this period, while total net profit rose by 22%.

The company said its loyalty programme had helped to drive its strong performance, having worked with other firms such as music streaming firm Spotify.

Both firms give their customers a chance to earn Starbucks "starts" which can be used in the coffee chain's shops.

Starbucks CEO Howard Schultz described the results as being: "Among the strongest and most remarkable quarters in our over 23 years as a public company."

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