INTERNATIONAL | Staff Reporter, Singapore

Starbucks global comp sales climb 3%

The company reported financial results for its 13-week fiscal first quarter ended January 1, 2017.

According to Starbucks, the company's global comparable store sales increased 3%, comprised of a 3% increase in the Americas, a 5% increase in CAP, and a 1% decrease in EMEA. U.S. comparable store sales increased 3% comprised of a 5% increase in average ticket and a 2% decrease in transactions.

Record consolidated net revenues of $5.7 billion grew 7% over prior year. Starbucks also opened 649 net new stores in the quarter, bringing total stores to 25,734 in 75 countries worldwide.

“Starbucks is engaging more deeply – and more frequently – and expanding its base of loyal customers faster and more consistently today than ever before,” said Howard Schultz, chairman and CEO.

“The trust and confidence our customers have in the Starbucks brand is fueling our flywheel and propelling our business forward in markets and channels all around the world.”

“We are pleased with the record Q1 financial and operating results we announced today, particularly given that the results were delivered in the face of a challenging environment for restaurant retailers overall,” said Scott Maw, CFO.

“As always, credit for our success belongs to the more than 300,000 Starbucks partners around the world who proudly wear the green apron and who deliver an elevated Starbucks Experience to our customers now over 90 million times, each week.”

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