Starbucks $SBUX Q1 2013 Show Global Growth And Gains
The global coffee giant is not disappearing any time soon, and is definitely not feeling pressure from competition. Momentum for the company was proved through their Q1 fiscal year earnings. Revenue clocked in at $3.8 billion with earnings of $0.57 per share. American Starbucks sales were up 7% while globally sales increased by 6%. In Asia the increase was higher at 11%.
Other Starbucks Q1 2013 highlights exude substantial strides which could foretell a fruitful year. The first stores in India were opened, three of them to be exact, as well as 212 other new store locations. Teavana Holdings, Inc. a tea company, was acquired by Starbucks December 31, 2012, which can give Starbucks the edge by becoming a leader of both tea and coffee. Their partnership with Verismo has been beneficial throughout 2012 and they have already sold 150,000 machines this quarter. Members of My Starbucks Rewards have grown by 1.4 million, compared to 778,000 new members in Q1 2012.
Some of the company’s goals for 2013 include opening 1,300 new store locations across the globe; 600 in the Americas, 600 in Asia and 100 in Europe, Middle East, Russia and Africa. They expect earnings per share to be $2.06 to $2.15 per share, which would be a growth of about 15-20%.