Starbucks has announced that its business in EMEA delivered its most profitable quarter in the company’s history in the 13 weeks to 28 December, with the UK outpacing the region overall.
The company reported a global 5% increase in like-for-like sales during the first quarter, with like-for-likes up 4% in EMEA, driven by a 3% increase in footfall. Consolidated net revenues increased 13% to $4.8bn.
Howard Schultz, chairman, president and chief executive, said: “Momentum continues to build in EMEA, and we are very encouraged by the broad reach improvements in both our largest company-owned markets and our licensed stores. Across EMEA, Q1 licensed stores comps were in the high single-digits.”
The group opened 512 stores during the period and expects to add approximately 1650 net new stores globally. Of the 1650, it expects to open 650 in the Americas, 150 in EMEA and 850 in China, Asia Pacific.
The company said that one in seven Americans received a Starbucks Gift Card in the First Quarter, up from one in eight in the first quarter of fiscal 2014. At the same time, it added 896,000 new My Starbucks Rewards members in December and now has over nine million members
Schultz said: “Starbucks record First Quarter financial and operating performance was exceptional by every metric and standard. Our re-imagined in-store holiday experience that included a vastly expanded assortment of Starbucks Cards, new holiday food, beverage and merchandise offerings and the opportunity to win ‘Starbucks for Life’ resonated powerfully with our customers and drove both increased traffic and tremendous excitement in our stores and around the Starbucks brand.”
