Despite higher prices, Starbucks remains in demand – the world’s largest café chain achieved record sales in the summer. In the fiscal quarter through early October, revenue increased by three percent year-on-year to the previous high of $8.4 billion (8.6 billion euros), as Starbucks announced on Thursday after the US stock market closed.
However, increased expenditure for higher wages, for example, caused profits to fall sharply. The bottom line is that Starbucks made $878 million — about half what it was a year ago. Nevertheless, the numbers exceeded expectations. The stock initially jumped four percent in after-hours trading.
