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,
we take to the skies with the what red arrows as they prepare for the fly past at buckingham palace. hello and welcome to bbc news. flight cancellations are continuing at british airports as the industry struggles with staff shortages. british airways has dropped 124 short haul services from heathrow today, but says passengers were given advance notice. the transport secretary, grant shapps, is meeting with airline bosses this afternoon, after saying he hasn t seen enough progress in tackling the disruption. airlines have blamed the government for tough covid restrictions and a lack of support. unions have warned that the situation could get worse before it gets better. our correspondent dan johnson reports. as you can see, the case is packed, everything ready to go, but we have nowhere to go. steve s bags are packed, he said goodbye to the parrot, but there was a nasty surprise very early this morning. the e mail came through at two o clock this morning. he and his wife s fl
things that were £1 are now £1.10. it adds to the panic as well and you are just thinking, how am i going to get through this month? the average price of petrol reaches a record high amid new sanctions on russian oil. one week after the school shooting in texas, sir andy murray, who survived the dunblane massacre as a child, calls for changes to america s gun laws. surely at some stage you do something different, like, you can t keep approaching the problem, you know, by buying more guns and having more guns in the country. another senior conservative mp dame andrea leadsome blames the prime minister for lockdown parties in downing street. and customers from all over the world flock to a chippy in coventry that s become a social media sensation. and coming up on the bbc news channel. liverpool have demanded an apology from the french sports minister following comments suggesting fans were to blame for problems at the champions final on saturday. good afternoon, and
you can t keep approaching the problem, you know, by buying more guns and having more guns in the country. another conservative mp calls on the prime minister to resign over downing street lockdown parties. and former cabinet minister andrea leadsom criticises him for unacceptable failures of leadership. mega chippy. and the once humble chip shop in coventry, that s now at tiktok sensation. there are calls today to give more children in england free school meals to help tackle the cost of living crisis. teaching unions say all children from families on universal credit should be eligible forfree meals as part of an urgent expansion of the scheme. the cost of food, fuel and other goods has surged in recent months, pushing inflation to a ao year high. here s our education correspondent, elaine dunkley. more children than ever are coming through the doors. at capacity. we opened 11 minutes ago, we ve only got a small room, we are going to be busy. at this free half term