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Starbucks is already making strong profits

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Starbucks, the world’s largest coffee chain, increased its profits at the beginning of the year. In the three months to the end of March, the company earned $908 million, about 35 percent more than a year ago. (archive image)

This was announced by Starbucks on Tuesday after the US stock market closed in Seattle. Group-wide revenues rose 14 percent to $8.7 billion.

Starbucks has benefited from the recovery in its key Chinese business, which suffered badly from price increases and the consequences of renewed Covid lockdowns in the previous quarter. Overall, global peer sales increased by eleven percent. Although quarterly data beat financial analysts’ expectations, the stock reacted with declines for the first time after trading hours.

(SDA)

Source :Blick

Tim

I’m Tim David and I work as an author for 24 Instant News, covering the Market section. With a Bachelor’s Degree in Journalism, my mission is to provide accurate, timely and insightful news coverage that helps our readers stay informed about the latest trends in the market. My writing style is focused on making complex economic topics easy to understand for everyone.

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Tim

I'm Tim David and I work as an author for 24 Instant News, covering the Market section. With a Bachelor's Degree in Journalism, my mission is to provide accurate, timely and insightful news coverage that helps our readers stay informed about the latest trends in the market. My writing style is focused on making complex economic topics easy to understand for everyone.

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Starbucks is already making strong profits

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