Starbucks China same-store sales growth in Q4 grows 5%
Total transactions were up 13%.
Starbucks in China saw same-store sales grow by 5% in the latest quarter, the coffee giant announced.
Its store network, meanwhile, is up 17% year on year.
For the full year, Starbucks China comp sales were up 4% whilst total transactions in the company’s second-largest global market were up by 13%.
“I’m very pleased with our strong finish to fiscal 2019, as we sustained positive momentum across each of our business segments,” Starbucks president and CEO Kevin Johnson said in their report. “Our strong performance throughout fiscal 2019 gives us confidence in a robust operating outlook for fiscal 2020.”
Globally, Starbucks opened 630 new stores during the fourth quarter, taking its network to 31,256.
For the full year, global Starbucks revenue was up 7 per cent to US$26.5bn that was driven by a 3% in the average ticket and a 1% uptick in comparable transactions.
The announcement comes amid an ongoing battle within the coffee segment in China, with players such as Luckin Coffee and Costa looking to rival the chain.
