Starbucks Profit Rises 86% on Higher Foot Traffic, Via
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Starbucks Corp., the world’s largest coffee-shop operator, said fourth-quarter profit rose 86 percent on higher foot traffic and Via instant coffee sales.
Net income was $278.9 million, or 37 cents a share, the Seattle, Washington-based chain said today in a statement. Revenue increased 17 percent to $2.84 billion. Excluding some items, earnings exceeded analysts’ average estimates by 5 cents.