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,
into service, there have been a number of high profile problems with the programme, including electrical faults and quality control issues. shares in boeing fell 9% in pre market trading in new york this morning. so how much of a wake up call is this for boeing? i m joined byjohn grant, chief analyst, at the aviation analytics provider, oag. thank you forjoining us here, john on bbc news. first question is, this is the last thing they need, isn t it? if there were no warnings, what is going on at boeing? it’s it? if there were no warnings, what is going on at boeing? is going on at boeing? it s not an ideal start is going on at boeing? it s not an ideal start to is going on at boeing? it s not an ideal start to a is going on at boeing? it s not an ideal start to a new is going on at boeing? it s not an ideal start to a new year - is going on at boeing? it s not an ideal start to a new year for - is going on at boeing? it s not an l ideal start to a new year for boe