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Bloomberg
Starbucks Corp. broke out of its home-market slump, posting better-than-expected sales in the US that sparked a share rally in late trading.
Comparable sales — the key gauge of retail performance — rose 4 percent in the Americas, beating analysts’ estimate for a gain of 2.8 percent and far-outpacing the previous quarter’s sluggish pace. Sales also beat globally.
Starbucks considers the US and China its most important markets, and it’s making progress in both. The chain, which is expanding delivery service in China, saw 1 percent same-store sales growth in the Asia Pacific region last quarter, reversing the previous period’s temporary dip. The world’s biggest coffee chain is shifting to healthier beverages in addition to expanding its food menu. New food helped drive the company’s US comparable sales beat last quarter.