Starbucks' global comparable store sales drop in April-June quarter
Coffee chain reports 6th consecutive quarterly decline in US same-store sales
WASHINGTON/ISTANBUL
US coffee chain Starbucks' global comparable store sales decreased a larger-than-expected 2% 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%.
Starbucks' international comparable store sales were flat in the same period, while sales in China increased by 2%.
The coffee chain's revenue rose 3.8% year-over-year to $9.5 billion in the three months ending June 29.
The company's profit, however, dropped 47% to $558.3 million during the same period.
The coffee chain's earnings per share also decreased 47.3% year-over-year to $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.
