Starbucks raises forecasts as customers flock back

first_img Share More From Our Partners Biden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.comRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.org980-foot skyscraper sways in China, prompting panic and evacuationsnypost.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.org STARBUCKS raised its full-year profit forecast yesterday, boosting investor confidence its turnaround plan has ushered in a new phase of growth.Rising prices and improving traffic in its stores gave the leeway to hike its fiscal 2011 outlook. US sales at restaurants open at least 13 months jumped eight per cent in the fiscal fourth quarter from a year ago, driven by a six per cent rise in customer visits and a two per cent increase in spending per visit.International same-restaurant sales were up seven per cent, helped by a four per cent traffic increase and a three per cent rise in average ticket.Those factors, coupled with efficiency efforts and cost controls, prompted the company to hike its earnings target for the current 2011 fiscal year to a range of $1.41 to $1.47 per share, from $1.36 to $1.41 previously. Wall Street’s average forecast was for $1.43, near the low end of the new range. Net revenue grew more than 17 per cent to $2.8bn. “The increase really is based on the strength of the quarter we just recorded and the momentum we bring into the new year,” Starbucks chief financial officer Troy Alstead said. KCS-content Starbucks raises forecasts as customers flock back whatsapp Tags: NULLcenter_img by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailNoteabley25 Funny Notes Written By StrangersNoteableySerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesMagellan TimesThis Is Why The Roy Rogers Museum Has Been Closed For GoodMagellan TimesElite HeraldExperts Discover Girl Born From Two Different SpeciesElite HeraldMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryZen HeraldThe Truth About Why ’40s Actor John Wayne Didn’t Serve In WWII Has Come To LightZen Heraldmoneycougar.comThis Proves The Osmonds Weren’t So Innocentmoneycougar.com Thursday 4 November 2010 10:46 pm whatsapp Show Comments ▼last_img

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