Starbuck's raked in $540.7 million in the first fiscal quarter following the end of the stock market's activity Thursday The Street reported.
The amount equaled 71 cents a share, which was a 25 percent increase compared to this time in 2013 The Street reported. The figures also exceeded analyst's predictions at 69 cents a share according to Thomson Reuters The Street reported.
"Contributing to Americas' performance was the success of our holiday beverage offerings, including both pumpkin-spice latte and our holiday beverage trio and strong food sales," Howard Schultz Starbuck's said in a conference call Thursday Bloomberg reported. The new bakery items, which include croissants and caramel pecan sticky buns, will be in all U.S. locations by the end of fiscal 2014.
Starbuck's income from sales over the past three months concluding Dec. 29 rose 12 percent to $4.24 billion, just shy of analyst's $4.29 billion prediction according to a statement from the company Bloomberg reported.
"December is really where we saw just a little bit of softening in our traffic growth," Troy Alstead Starbucks chief financial officer told Bloomberg. "There's been an accelerating pace of movement of shoppers moving from bricks and mortars and the malls to online which meant those people weren't refueling at Starbucks during the holidays," Schultz told Bloomberg.
Starbuck's plans to continue offering drinks depending on the season, fresh bakery items, and more Teavana Fine Tea locations Bloomberg reported.
Starbucks opened its first Teavana Fine Tea Bar location Oct. 23 in New York City the company said in a press release.
The stores feature handmade teas, premium loose leaf teas, tea food products, and tea merchandise to upgrade a customer's tea experience the company said in a press release.
Starbuck's saw its shares rise 3.2 percent Thursday to $75.74 according to information from Bloomberg. Locations in operation about 13 months went up five person throughout the company's United States, Canada, and Latin America sector.
