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Starbucks Q4 profit up 34%; 1,500 net new stores on tap
Seattle -- Starbucks Coffee Company on Wednesday reported a better-then-expected 34% rise in its fiscal fourth-quarter and raised its quarterly dividend 24%. The company earned $481.1 million, up from $359 million a year ago.
Total net revenues increased 13% to $3.8 billion, just short of expectations.
Global same-store sales increased 7%, driven by a 5% increase in traffic. Same-store sales were up 8% in the United States and the Americas and 8% in China/Asia Pacific region.
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Full steam ahead for Target’s 33 Canadian store openings in November
Target Canada is on schedule to open 33 additional Canadian store locations spanning across nine provinces, including its first stores in New Brunswick, Prince Edward Island and Newfoundland.
The retailer plans to open 31 stores Nov. 13, and the remaining two Nov. 22. Target will announce additional store openings beyond 2013 at a later date.