US coffeehouse chain Starbucks has reported a 5% increase in global comparable store sales for the fiscal year 2019.
The increase in sales is driven by a 3% rise in average ticket and a 1% increase in comparable transactions.
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Americas and the US comparable store sales during the period increased 5% and international comparable store sales were up 3%. The company also posted an increase of 7% in consolidated net revenues of $26.5bn over the previous year.
For the fourth quarter, global comparable store sales rose 5%, while Americas and the US comparable store sales increased 6%.
Consolidated net revenues of $6.7bn increased 7% compared to the previous year during the quarter.
Starbucks president and CEO Kevin Johnson said: “Our US business delivered 6% comparable store sales growth in the fourth quarter, while China grew comparable store sales by 5% and total transactions by 13%. Our strong performance throughout fiscal 2019 gives us confidence in a robust operating outlook for fiscal 2020.
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By GlobalData“We are making meaningful progress against our strategic priorities while streamlining the company, bringing more focus and discipline to everything we do. The investments we are making for the long term—in our partners, our stores, beverage innovation and digital—are collectively delivering an elevated Starbucks Experience, as evidenced by all-time-high customer connection scores in the fourth quarter.”
In the fourth quarter of this year, the company opened 630 net new stores, bringing the total number of stores to 31,256 stores at the end of the quarter.
During this period, Starbucks combined the previous China/Asia Pacific (CAP) segment and Europe, Middle East, and Africa (EMEA) segment into one international segment as part of realigning its operating segment reporting structure.
The company reported the results of Siren Retail, a non-reportable operating segment comprising Starbucks Reserve Roastery & Tasting Rooms, Starbucks Reserve brand and Princi operations within the Americas and International segments.
