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Starbucks Q1 profit tops; on track for 1,800 new stores in 2016
Starbucks Corp. reported first quarter earnings and same-store sales that topped expectations. But the coffee giant gave a soft earnings outlook for its current quarter.
Starbucks reported better-than-expected earnings of $687.6 million for the period ended Dec. 27, 2015, down from $983.1 billion a year earlier. The prior-year period was boosted by a hefty $391 million gain related to a joint venture.
Revenue rose 12% to $5.37 billion. Analysts had forecast $5.39 billion in revenue.
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Ahold USA 2015 sales up 1.4%
Ahold USA on Wednesday announced net sales of $26.4 billion for the full year of 2015, an increase of 1.4%.
Ahold USA successfully converted the 25 acquired former A&P stores during the quarter. Identical sales excluding gas were up 1.6%, positively affected by competitor store closures in the New York Metro market. Market share for the fourth quarter and full year increased compared to last year, as the chain added a net 20 stores in 2015 to 788 locations.

