News Summary: Starbucks profit rises 13 percent
News Summary: Starbucks profit rises 13 percent on strong Americas, Asia sales
A STRONG CUP: Starbucks Corp. said its profit rose 13 percent in its fiscal first quarter, as a key sales figure rose in the Americas and Asia. Profit was in line with expectations, although revenue of $3.8 billion fell just shy of estimates.
GLOBAL SALES: Global sales in cafes open at least a year rose 6 percent. The key retail metric rose 7 percent in the U.S. driven by the popularity of holiday beverages and increasing food purchases. In Asia, it rose 11 percent.
SOFT SPOT: Europe remained a weak spot, with sales at cafes open at least a year down 1 percent. The company said customer traffic increased, but the amount spent per visit declined.
