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Starbucks Q3 international sales rise 7.9%
Starbucks' global store sales increased by 7.9% in the third quarter, surpassing analysts' expectations of 5.7%. The impressive sales performance led the company to raise its annual growth forecast, projecting sales growth of around 6%. Additionally, the adjusted earnings per share were revised to between $2.55 and $2.65. The company also reported an adjusted EPS of 85 cents, beating expectations of 66 cents. Operating profit margins rose to 14.4% compared to 10.5% last year, driven by restructuring efforts led by CEO Brian Niccol to achieve sustainable growth.
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