Starbucks Corporation (SBUX) has reported a 9.34 percent rise in profit for the quarter ended Jan. 01, 2017. The company has earned $751.80 million, or $0.51 a share in the quarter, compared with $687.60 million, or $0.46 a share for the same period last year. On an adjusted basis, earnings per share were at $0.52 for the quarter compared with $0.46 in the same period last year.
Revenue during the quarter grew 6.69 percent to $5,732.90 million from $5,373.50 million in the previous year period. Gross margin for the quarter expanded 65 basis points over the previous year period to 59.97 percent. Total expenses were 80.24 percent of quarterly revenues, down from 80.31 percent for the same period last year. This has led to an improvement of 7 basis points in operating margin to 19.76 percent.
Operating income for the quarter was $1,132.60 million, compared with $1,058 million in the previous year period.
However, the adjusted operating income for the quarter stood at $1,146.60 million compared to $1,070.30 million in the prior year period. At the same time, adjusted operating margin improved 8 basis points in the quarter to 20 percent from 19.92 percent in the last year period.
“Starbucks is engaging more deeply - and more frequently ��" and expanding its base of loyal customers faster and more consistently today than ever before,” said Howard Schultz, chairman and chief executive officer. “The trust and confidence our customers have in the Starbucks brand is fueling our flywheel and propelling our business forward in markets and channels all around the world.”
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