Starbucks Corporation (NASDAQ: SBUX) announced financial results for the fourth quarter and the year ended September 29th, 2019. Comparable store sales globally increased 5% due to an increase in comparable transactions.
“I’m very pleased with our strong finish to fiscal 2019, as we sustained positive momentum across each of our business segments,” said Kevin Johnson, president and ceo. “Our U.S. business delivered 6% comparable store sales growth in the fourth quarter, while China grew comparable store sales by 5% and total transactions by 13%. Our strong performance throughout fiscal 2019 gives us confidence in a robust operating outlook for fiscal 2020.”
“We are making meaningful progress against our strategic priorities while streamlining the company, bringing more focus and discipline to everything we do. The investments we are making for the long term—in our partners, our stores, beverage innovation and digital—are collectively delivering an elevated Starbucks Experience, as evidenced by all-time-high customer connection scores in the fourth quarter. This long-term focus is instrumental to how we are building an enduring company,” concluded Johnson.
630 new stores were opened in the fourth quarter, setting a total of 31,256 stores at the end of the fourth quarter. Consolidated net revenues increased 7% year over year reaching USD 6.7 Billion.
Shares of Starbucks increased over 3% post announcement, reaching a current high of day of USD 87.04.