Starbucks' sales decrease for second consecutive quarter

By Ovunc Kutlu

ISTANBUL (AA) - US-based coffeehouse chain Starbucks saw its sales decrease for the second consecutive quarter, according to its financial results statement released Tuesday.

"Global comparable store sales declined 3%, driven by a 5% decline in comparable transactions, partially offset by a 2% increase in average ticket," it said.

While North America store sales declined 2%, US store sales decreased 2%, China store sales dove 14% and international store sales fell 7%, according to the statement.

The company said it opened 526 net new stores in the third quarter of the 2024 fiscal year, which corresponds to the April-June period of this year, ending the period with a total of 39,477 stores globally.

"At the end of Q3, stores in the US and China comprised 61% of the company’s global portfolio, with 16,730 and 7,306 stores in the US and China, respectively," said the statement.

The company saw only a 1% revenue increase in North America, while international revenues declined almost 7% to $1.84 billion from $1.97 billion year-on-year, according to the financial results.