Starbucks U.S. sales climb as customers spend more on pricey drinks

Net sales for the period rose 3.3% to $8.41 billion. Global same-store sales increased 7%, fueled by increased spending in its home market.

In the United States, Starbucks reported same-store sales growth of 11%, which was the result of people spending more on average and a slight uptick in traffic. Prices were also up 6% from a year ago, but executives said they don’t plan to raise prices anymore for the time being.

Cold beverages accounted for more than three-quarters of beverage sales at U.S. company-owned cafes. 

Starbucks said customers are more likely to add pricy syrups, cold foam and dairy substitutes to cold drinks, driving up their price.

But customers are also still buying hot coffee drinks. Pumpkin Spice Latte sales climbed 70% compared with the year-ago period, according to Starbucks North American President Sara Trilling.

The company’s loyalty program saw its active membership climb 16% to 28.7 million people in the quarter.

(US.SBUX)

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