Starbucks, the global coffee giant, has reported a 20% rise in second quarter profits to $261.6m, and said that in the UK it recorded its seventh consecutive quarter of like-for-like sales growth.
However, the company, which saw revenue increase by 10% to $2.8bn during the three months to 3rd April, said that it believed rising commodity costs would have a greater impact this year than it had previously forecast.
Like-for-like sales for the quarter rose by 7% in the US, 4% international, with the UK reporting single digit growth.
In terms of US sales the company is now ranked third behind McDonald’s and Subway.
The company said performance in the UK was underpinned by a 15% increase in the sale of Frappuccinos due to the warm weather.
The company said it opened its latest UK drive-thru in Preston during the quarter, and that it was on target to have 12 open by the end of 2011.
Darcy Willson-Rymer, Starbucks UK & Ireland managing director, said: “It’s clear that there’s been a slow-down in consumer spending in the first three months of the year, so it’s encouraging that we’ve been able to continue to increase like for like sales. We’ve worked hard to give customers more reasons to visit us and it’s paying off, whether that’s new food and better stores or a relentless focus on offering brilliant service.”
