Starbucks delivers record performance, net revenue up 78% to $7.5 Billion

The company opened 352 net new stores in the third quarter of fiscal 2021, yielding 3% year-over-year unit growth.
  • Nusra Deputy Features Editor

Starbucks Corporation has announced financial results for its 13-week fiscal third quarter ended June 27, 2021. 

As per the report, Q3 Comparable Store Sales Up 73% Globally; U.S. Up 83% with 10% Two-Year Growth.

“Starbucks delivered record performance in the third quarter, demonstrating powerful momentum beyond recovery. Our ability to move with speed and agility and to be out in front of shifting customer behaviors has helped further differentiate Starbucks, positioning us well for this moment,” said Kevin Johnson, President & CEO, Starbucks.

The international comparable store sales increased 41%, driven by a 55% increase in comparable transactions, partially offset by a 9% decline in average ticket.

“As the Great Human Reconnection continues to unfold, our partners are rising to the occasion, ready to meet our customers wherever they need us to be – with the right store, in the right place, at the right time. Given the strength of our diverse portfolio and the elevated Starbucks Experience, as evidenced in our Q3 record results, we are raising our full-year financial outlook and are confident in our ability to continue to execute our ‘Growth at Scale’ agenda to unlock the full potential of the Starbucks brand,” added Johnson.

The company opened 352 net new stores in the third quarter of fiscal 2021, yielding 3% year-over-year unit growth, ending the period with a record 33,295 stores globally, of which 51% and 49% were company-operated and licensed, respectively.

Stores in the U.S. and China comprised 62% of the company’s global portfolio at the end of the third quarter of fiscal 2021, with 15,348 and 5,135 stores, respectively.

The brand has focused on a highly differentiated Starbucks Experience, focused on the customer experience, relevant new beverage platforms, and expanded digital customer relationships, translating to increased consumer preference and deeper customer engagement.