Starbucks Reports Record Q2 Results Of 9 Percent Net Revenue Increase

Starbucks Corp. reported financial results for its 13-week fiscal second quarter and 26-week fiscal year to date ended March 30, 2014. Second quarter fiscal highlights include global comparable store sales increased 6 percent with Americas and U.S. comp growth of 6 percent and EMEA comp growth of 6 percent, representing the highest growth in EMEA in 14 quarters. China/Asia Pacific reported comp growth of 7 percent, driven by strong traffic. Consolidated net revenues increased 9 percent to a Q2 record $3.9 billion. Channel development revenues grew 10 percent while consolidated operating income increased 18 percent, or $100 million, to a Q2 record $644 million. All reportable segments contributed to an operating margin increase of 130 basis points to a Q2 record 16.6 percent. Earnings per share grew to $0.56, up 17 percent excluding a $0.03 non-routine gain in the prior year Q2 related to the sale of the company's equity in its Mexico joint venture. The company opened 335 net new stores globally, including the 20,000^th Starbucks store. Total company store count across all brands grew to 20,519. Full report.