Net revenue

Starbucks first-quarter net sales rise 19% to $8.1 billion, same-store sales up 13%

Starbucks Corp. (Nasdaq: SBUX) this week reported stronger financial results for its 13-week fiscal first quarter, which ended Jan. 2. -Higher-than-expected inflation and COVID-19-related salary and staff costs.

The coffee giant said same-store sales rose 13% on a 10% jump in same-store transactions and a 3% increase in average tickets. Same-store sales in North America and the United States increased 18%, primarily due to a 12% increase in same-store transactions and a 6% increase in average ticket. International same-store sales decreased 3%, due to a 5% decline in average ticket, partially offset by a 2% increase in same-store transactions;

In China, Starbucks same-store sales fell 14%, driven by a 9% decline in average ticket and a 6% decline in transactions.

In China, the number of Starbucks stores surpassed 5,500, bringing the company’s global store count to a record 34,317. The number of active Starbucks Rewards members in the United States increased by 21% from year on year to reach 26.4 million,

“While demand has been strong, this pandemic has not been linear and the macroeconomic environment remains dynamic as we have experienced higher than expected inflationary pressures, rising costs due to omicron and a labor market tense,” said Starbucks President and CEO Kevin Johnson. .