Starbucks saw like-for-like sales fall in the EMEA region in the second quarter.

In the 13 weeks to April 1, Starbucks saw global comparable store sales increase 2%, driven by a 3% increase in average ticket. However, in EMEA sales were down 1% despite a similar uptick in average ticket.

The company opened 468 net new Starbucks stores in Q2 and now operates 28,209 stores across 76 markets.

Kevin Johnson, president and chief executive, said: “Starbucks Q2 of fiscal 2018 represented another quarter of record financial results, highlighted by accelerating momentum across our Americas business - particularly in the U.S., continued strong performance in China and our strongest comp growth in Japan in five quarters.

“At the same time we made measurable progress against each of the strategic initiatives that position Starbucks to continue delivering best-inclass operating and financial results long into the future.”

“We have a clear set of actions underway to improve profitability through a combination of comp and beverage growth and savings across COGS, waste and labor as we move through the back half of the year,” said Scott Maw, chief financial officer. “We are continuing to invest in our business - strategically and with a ‘long game’ mentality - while at the same time taking decisive near-term action to maximize our brand portfolio and ensure that we continue to deliver outsized returns to our shareholders in the quarters and years ahead.”

Topics