Starbucks' Q3 U.S. sales surge 83% as customers flock to stores

“Starbucks delivered record performance in the third quarter, demonstrating powerful momentum beyond recovery. Our ability to move with speed and agility and to be out in front of shifting customer behaviors has helped further differentiate Starbucks, positioning us well for this moment,” said Starbucks president and chief executive Kevin Johnson.

KEY POINTS

• Q3 consolidated net revenues Up 78% to a record $7.5 billion
• Q3 comparable store sales is up 73% globally; U.S. up 83% with 10% two-year growth.
• Q3 GAAP EPS was $0.97; record non-GAAP EPS of $1.01 driven by strong U.S. performance.
• China surpasses 5,000 stores, pushing global store count to record 33,295.
• Active Starbucks Rewards membership in the U.S. is up 48% year-over-year to 24.2 million.
• Company Raised full-year fiscal 2021 margin and earnings per share guidance.

Starbucks Corp.'s (NASDAQ: SBUX) financial results for its 13-week fiscal third quarter, ended Jun. 27, showed global comparable store sales increasing 73%, driven by a 75% increase in comparable transactions, partially offset by a 1% decrease in average ticket.

Comparable store sales in the Americas increased 84%, driven by an 82% increase in comparable transactions and a 1% increase in average ticket; U.S. comparable store sales increased 83%, driven by an 80% increase in comparable transactions and a 1% increase in average ticket.

The coffeehouse chain said it opened 352 net new stores in the third quarter, yielding 3% year-over-year unit growth, ending the period with a record 33,295 stores globally, of which 51% and 49% were company-operated and licensed, respectively.