SEATTLE (AP) — Starbucks Corp. says more customers visited its coffee shops in the fourth quarter this year than last and spent more money when they did.
Chief Financial Officer Troy Alstead says sales in locations open at least a year are recovering, compared with both the third quarter and last year.
The coffee house chain earned $150 million, or 20 cents per share, during the quarter that ended in late September.
Excluding one-time items, it earned 24 cents per share. Last year, it earned $5.4 million, or a penny per share.
But revenue fell almost four percent to $2.42 billion.
Analysts polled by Thomson Reuters predict a profit of 21 cents per share on revenue of $2.39 billion for the quarter. Those estimates typically exclude one-time items.
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