By Yasin Ebrahim
Investing.com - Starbucks (NASDAQ:SBUX) reported Thursday mixed fourth-quarter results as revenue that fell short of expectations as the flare up in Covid-19 infections weighed on international sales.
Starbucks shares lost 0.94% in after-hours trade following the report.
Starbucks announced earnings per share of $1 on revenue of $8.15 billion. Analysts polled by Investing.com anticipated EPS of 99 cents on revenue of $8.24 billion.
Comparable store sales increased 17%, driven by a 15% increase in comparable transactions and a 2% increase in average ticket.
North America comparable store sales increased 22%. International comparable store sales increased just 3%, weighed own by a 7% decrease in China.
"The decline was primarily driven by a 20% unfavorable impact of Global Coffee Alliance transition-related activities, including a structural change in our single-serve business," the company said.
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