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Starbucks CEO: Q3 stands among most successful quarters in company history

Global comparable store sales increased 7 percent, driven by a 4 percent increase in traffic, and year-over-year comparable store customer transactions increased nearly 18 million in the U.S. and over 23 million globally.

July 24, 2015

Starbucks reported Thursday that Q3 closed as one of the most successful quarters in company history. Global comparable store sales increased 7 percent, driven by a 4 percent increase in traffic, and year-over-year comparable store customer transactions increased nearly 18 million in the U.S. and over 23 million globally. The chain also opened 431 new stores during the quarter, bringing the total store count to 22,519.

“Starbucks Q3 fiscal 2015 stands as among the strongest and most remarkable quarters in our over 23 years as a public company,” said Howard Schultz, chairman and CEO. “The 4 percent increase in global transactions we reported equates to our having served an additional 23 million customer occasions in Q3 of this year over last year, clearly evidencing a continuation of the strong momentum we have seen across our business and around the world this fiscal year."

 Other Q3 highlights included:

• Americas comp sales increased 8 percent, driven by a 4 percent increase in traffic.
• China/Asia Pacific comp sales increased 11 percent, driven by a 10 percent increase in traffic.
• EMEA comp sales increased 3 percent, driven by a 2 percent increase in traffic.
• Consolidated net revenues increased 18 percent over Q3 FY14 to a quarterly record $4.9 billion.
• Consolidated operating income up 22 percent to $938.6 million.
• Non-GAAP operating income up 24 percent to $950.1 million.
• Consolidated operating margin expanded 70 basis points to 19.2 percent
• Starbucks Mobile Order & Pay expanded to over 4,000 U.S. company-operated stores in Q3; full deployment to all U.S. company-operated stores by holiday.

"Starbucks' very strong year over year financial performance in Q3 demonstrates our commitment to delivering bestin-class financial and operating results while at the same time investing in our future growth — building new stores, renovating existing stores, deploying new technology — investing in our partners and delivering an elevated Starbucks Experience to our customers," said Scott Maw, Starbucks CFO. “We believe that by getting this balance right, we will be able to continue delivering exceptional growth, profitability and increased returns to our shareholders."