Starbucks Corporation has reported financial results for its 13-week fiscal first quarter ended 1 January 2012. Results are presented under the new reporting segments, which were effective with the beginning of fiscal 2012.
Total net revenues increased 16% to a record $3.4bn. Global comparable store sales increased 9%, driven by a 7% increase in traffic and a 2% increase in average ticket. Starbucks opened 241 net new stores globally, reaching 500 stores in mainland China and Latin America. CPG revenue increased 72%, driven by the launch of Starbucks- and Tazo-branded K-Cup packs and the impact of the Q2 FY11 transition of packaged coffee and tea to the direct distribution model. Over 100 million Starbucks- and Tazo-branded K-Cup packs shipped in Q1 following the 1 November launch. EPS increased 11% to a record $0.50 per share, compared to $0.45 per share in Q1 FY11.
Tata Global Beverages posts an 11% drop in Q3 2011/12 consolidated net profit to Rupees 640.6m, with net sales up 12% to Rupees 17.9bn.
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