Business

Starbucks profit climbs as sales increase

NEW YORK — Starbucks Corp., the world’s biggest coffee company, said its profit rose in its second fiscal quarter as sales increased in the Americas and Asia.

The Seattle-based company, with more than 18,000 locations around the world, said sales at stores open at least a year rose 6 percent.

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The figure rose 6 percent in the Americas region and 8 percent in China and Asia Pacific. In Europe, where Starbucks has struggled, it fell 2 percent.

For the quarter, Starbucks earned $390.4 million, or 51 cents per share. That was up from $309.9 million, or 40 cents, a year before. Not including one-time items, it earned 48 cents per share.

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Revenue rose 11 percent to $3.56 billion, shy of the $3.58 billion Wall Street expected.

Associated Press

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