michelle fleury has more. americans love of lattes and iced coffee helped starbucks through the worst of the post pandemic years. but with high inflation in the us, a cup of coffee is now $5 on average. the big question for investors going into this earnings season was would consumers still spend money on elaborate coffees? the answer was mixed. sales in north america grew 7%, even after the chain raised prices. that figure was below wall street s forecast. customer traffic only increased by 1%. most of the gains came from existing customers spending more money. sales in china, its second biggest market, rose sharply. same store sales increased a whopping 46% from a year ago. starbucks remains a favorite brand among chinese consumers. the company benefiting from a rebound after strict
our north america business correspondent michelle fleury has more from new york. americans love of lattes and iced coffee helped starbucks through the worst of the post pandemic years but with high inflation in the us, a cup of coffee is now $5 on average the big question for investors going into this earnings season was would consumers still spend money on elaborate coffees? the answer was mixed. sales in north america grew 7% even after the chain raised prices. that figure was below wall street s forecast. customer traffic only increased by 1%. most of the gains came from existing customers spending more money. sales in china, its second biggest market, rose sharply. same store sales increased a whopping 46% from a year ago. starbucks remains a favourite brand among chinese consumers, the company benefiting from a rebound after a strict covid 19 restrictions were lifted. but the coffee chain said that wage increases and investment in its cafes dragged down its overall profits. s
chain says it made revenues of $9.2 billion in the third quarter. that is up i2% on the year before and was helped in part by a consumer recovery in china and normalizing work from office trends in the united states. still, starbucks shares fell on the news. 0ur north america business correspondent michelle fleury has more from new york. americans love of coffee helps starbucks through the worst of the pandemic years but with high inflation, a cup of coffee is $5 on average, the big question for investors going into earnings season was wood consumers still spend money on elaborate coffee? the answer was mixed. south north america grew 7% even after they raised prices at starbucks, below the wall street forecast, customer traffic on the increase by i% in most games came from existing customers spending more money. sales in china, its
americans love of lattes and iced coffee helped starbucks through the worst of the post pandemic years. but with high inflation in the us, a cup of coffee is now $5 on average. the big question for investors going into this earnings season was would consumers still spend money on elaborate coffees? the answer was mixed. sales in north america grew 7%, even after the chain raised prices. that figure was below wall street s forecast. customer traffic only increased by 1%. most of the gains came from existing customers spending more money. sales in china, its second biggest market, rose sharply. same store sales increased a whopping 46% from a year ago. starbucks remains a favorite brand among chinese consumers. the company benefiting from a rebound after strict covid 19 restrictions were lifted. but the coffee chain said that wage increases and investment
china. and a return to office in the united states. michelle fleury has more. in the united states. michelle fleury has more. americans love lattes and fleury has more. americans love lattes and coffee fleury has more. americans love lattes and coffee helping - lattes and coffee helping starbucks to the rest supposed eidetic years but with high inflation in the us, a cup of coffee is now $5 on average of the big question for investors going into this earnings season was going to consumer still spend money on elaborate coffees? the answer was mixed. sales in north america grew 7% even after the chain raised prices. that figure was below wall street s forecast. customer traffic only increased by 1% full time most of the goods came from existing customers spending more money. sales in china, its second is market, rose sharply. sales increased a whopping a0 said percent from a year ago. starbucks remains a favourite brand among chinese consumers, the company benefiting from a rebound