Starbucks Same-Store Sales Up 11% Thanks to New Products

Published January 14, 2015

Starbucks Corp. (SBUX) Wednesday reported a double-digit increase in same-store sales in October following two straight months of single-digit gains, helped by the success of its new pumpkin spice latte (search).

The world's largest coffee shop chain said sales at company-owned stores open at least 13 months, a key retail measure, rose 11 percent in the four weeks ended Oct. 31.

In August and September, Seattle-based Starbucks' same-store sales rose 8 percent and 7 percent, respectively, falling into single-digit territory for the first time since October 2003.

Thoscompany's explosive growth was showing signs of slowing.

Starbucks shares rose slightly on the INET electronic brokerage (search) to $53.95 from their Nasdaq close of $53.48.

Starting Oct. 6, Starbucks raised prices at company-owned stores in North America by an average of 11 cents. The company's chairman, Howard Schultz (search), has said he did not expect the price hike to affect same-store sales.

URL

https://www.foxnews.com/story/starbucks-same-store-sales-up-11-thanks-to-new-products