Starbucks posts record quarterly sales thanks to US business

By DEE-ANN DURBIN
AP Business Writer

Strong U.S. sales helped make up for weakness in other markets in Starbucks’ fiscal fourth quarter. The Seattle coffee giant said its North American same-store sales — or sales at locations open at least a year — jumped 22% in the July-September period. But same-store sales in China fell 7% as coronavirus cases once again disrupted store traffic. Starbucks said its revenue rose 31% to $8.1 billion for the quarter, an all-time high. But that was short of Wall Street’s forecast. The company said its net income more than quadrupled to $1.76 billion.