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 streets 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 in its cafes dragged down its overall profits. Starbucks ceo laxman narasimhan, who took over from predecessor Howard Schultz in march,
Alarm bells are ringing about the outlook for china, but officials remain confident this is a short term blip. Only last month, the chinese premier, li qiang, said his country was still on track to reach its annual Growth Target of around 5 , a modest target after china grewjust 3 last year, one of the weakest showings in nearly half a century. Lets talk through whats at stake with jane foley, head of fx strategy at rabobank. Iam hoping i am hoping she is there. Good morning to you. I am hoping she is there. Good morning to you. Good morning. A fourth month morning to you. Good morning. A fourth month in morning to you. Good morning. A fourth month in a morning to you. Good morning. A fourth month in a row morning to you. Good morning. A fourth month in a row of fourth month in a row of contraction although it is slightly improved from last month, hasnt it . It slightly improved from last month, hasnt it . Month, hasnt it . It has slightly month, hasnt it . It has slightly been month,
has to be discussed with the chinese government and inside the italian parliament. anyway, we will take a decision before december. it is the start of a brand new week china has released its latest manufacturing purchasing managers index for the month, coming out at 49.3, slightly betting estimates but a contraction. officials are due to announce new measures to boost domestic consumption later today. and on tuesday australia s central bank will unveil its latest rates decision. the central bank earlier hinted it could hike the cost of borrowing once again as inflation continues to hover around 6%. later this week as well the bank of japan will release the minutes from its latest meeting where authorities have pledged greater flexibility over its closely watched bond yield control policy. i spoke with an analyst who gave us his expectations. inflation has been above the target of 2% for 15 consecutive months now so how much longer do they want to see it go by? that will start
we will look at the cutting edge cancer treatments that are foxing the physicists. i find it fascinating because it does not talk to my physics brain. so, i am curious to see whether it will bring something or not. how does science become fiction? we will meet an author looking for disaster. we want conflict. we want to see things falling apart. that is where the interesting thing is for a fiction writer. and then there is a scientist with an experiment that could change our understanding of everything. that is a completely unanticipated result new physics and probably a nobel prize for somebody who happens to be involved. cern is one of the most famous centres for science in the world. on the border of switzerland and france, this place has been expanding our horizons for decades. its high energy physics research has helped reveal the secrets of our existence. and i have been allowed in it to meet some of those at the cutting edge. 2500 people work here. 12,000 more pour o
now on bbc news, it s time for click. this week, we are going atomic at the european organization for nuclear research, cern. we will look at the cutting edge cancer treatments that are foxing the physicists. ifind it fascinating because it does not talk to my physics brain. so, i am curious to see whether it will bring something or not. how does science become fiction? we will meet an author looking for disaster. we want conflict. we want to see things falling apart. that is where the interesting thing is for a fiction writer. and then there is a scientist with an experiment that could change our understanding of everything. that is a completely unanticipated result new physics and probably a nobel prize for somebody who happens to be involved. cern is one of the most famous centres for science in the world. 0n the border of switzerland and france, this place has been expanding our horizons for decades. its high energy physics research has helped reveal the secrets of our