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Starbucks reports strong quarterly sales and raises annual outlook

Source: wtop.com wtop.com
News Snapshot:

Starbucks shares soared Wednesday after the coffee giant reported better-than-expected quarterly revenue and profit and raised its financial outlook for the year. The Seattle company said global same-store sales in its fiscal third quarter rose 7.9%, which was well above the 5.7% increase Wall Street was expecting, according to analysts polled by FactSet. Same-store sales also were up 7.9% in the U.S. during the April-June period, the company said. Starbucks said it now expects global same-store sales to grow 6% for its full fiscal year, which ends Sept. 28. The company previously forecast same-store sales to grow 5% for the…

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