The cold business at
"As the leader in premium coffee, we are particularly encouraged to see cold espresso beverages were up 13% year over year," CEO
The blenders are in all
"Modifiers, such as cold foam, now contribute to over
Q3 fiscal 2023 highlights:
- Global comparable store sales increased 10%, primarily driven by a 5% increase in comparable transactions and a 4% increase in average ticket.
North America andU.S. comparable store sales increased 7%, driven by a 6% increase in average ticket and a 1% increase in comparable transactions.-
International comparable store sales increased 24%, driven by a 21% increase in comparable transactions and a 2% increase in average ticket;
China comparable store sales increased 46%, driven by a 48% increase in comparable transactions and a 1% decline in average ticket - Opened 588 stores, crossing the 37,000 store count threshold globally, ending the period with 37,222 stores: 51% company-operated and 49% licensed
-
Stores in the
U.S. andChina comprised 61% of the company's global portfolio, with 16,144 and 6,480 stores in theU.S. andChina , respectively -
Consolidated net revenues of
$9.2 billion , up 12% from the prior year, or 14%, inclusive of more than 1% unfavorable impact from foreign currency translation
"Our strong third-quarter results point to all-around momentum in the business, and reflect the significant progress we are making against our Reinvention Plan," Narasimhan said in a company press release. "Our results were also amplified by the distinctive competitive advantages that set us apart in the market."
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