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 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
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,
some time with us. hide and go leak. that s the focus of tonight s angle. laura: we all love playing hide and go seek at least i did as kids. especially as the sun was setting on a beautiful summer day. well, it s winter time and the adults in charge in the senate are still playing games. this one is called hide and go leak hide of the text senate border deal and leaking out pieces transparent attempt to sat phi critics. it s a classic senator theater of the absurd move with oits cast of characters including the man tapped by mitch mcconnell to be lead actor that s oklahoma senator jim lankford. is he trying mightily to convince you that biden will really enforce new laws under a new bill even though he doesn t use the. language biden would not be compelled. not be compelled to act to close the border. unless a threshold number of about 5,000 migrants had been logged in one day. which, by the way has happened many times during the past month. this is not letting 45,000
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