Pursuits
Starbucks First-Quarter Profit Surges 82% as Food Sales Gain
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Starbucks Corp., the world’s biggest coffee-shop chain, said first-quarter profit rose 82 percent as new food and holiday drinks boosted customer traffic and sales.
Net income increased to $983.1 million, or $1.30 a share, from $540.7 million, or 71 cents, a year earlier, the Seattle-based company said in a statement. Excluding some items, profit was 80 cents, matching the average estimate of 22 analysts surveyed by Bloomberg.