Starbucks reports record revenue on frothy US demand

By DEE-ANN DURBIN
AP Business Writer

Starbucks reported record revenue in the April-June period, as strong U.S. demand made up for COVID shutdowns in China. The Seattle-based coffee giant said its revenue rose 9% to $8.2 billion, a quarterly record. That surpassed Wall Street’s forecast.  Same-store sales, or sales at stores open at least a year, rose 9% in the U.S., where customers are spending more on customizable cold beverages. Morning traffic also picked up as more people returned to offices. Starbucks said its net income fell 21% as the company spent more on labor, worker training and supply chain costs.