Starbucks perks up in Q2

Seattle – Starbucks Coffee Company reported generally strong performance in the second quarter of fiscal 2014, compared to the same period a year earlier. Earnings per share rose 10% to $0.56, from $0.51.



Consolidated net revenues grew 9% to $3.87 billion from $3.55 billion, while consolidated same-store sales increased 6%.



The retailer cited its Teavana business, partnership with Oprah Winfrey, and new payment and loyalty technology as all contributing to overall fiscal growth.



For fiscal 2014, Starbucks expects earnings per share in the range of $2.62 to $2.68, revenue growth of 10% or greater, and global same-store sales growth in the mid-single digits. Earnings per share in the third quarter are expected to range from $0.64 to $0.66.



“Starbucks record operating performance in Q2 demonstrates that our focus on building a different kind of company — performance driven, through the lens of humanity — continues to drive profits and shareholder value,” said Howard Schultz, chairman, president and CEO of Starbucks Coffee Company. “The innovation we are bringing to market through reinvention of our Teavana business and partnership with Oprah Winfrey, our reimagination of the Starbucks Experience through next-generation payment and loyalty programs and our continued investments in the over 200,000 Starbucks partners who wear the green apron every day continues to build equity in the Starbucks brand and strengthen our connection to customers in every market in which we operate.”