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Starbucks’ Global Comparable Store Sales Drop in April-June Quarter

Seattle: US coffee chain Starbucks' global comparable store sales decreased a larger-than-expected 2% year-on-year in the April-June quarter, according to the firm's financial results released Tuesday.

According to Anadolu Agency, comparable store sales in North America also fell by 2%. Starbucks' international comparable store sales were flat in the same period, while sales in China increased by 2%.

The coffee chain's revenue rose 3.8% year-over-year to $9.5 billion in the three months ending June 29. However, the company's profit dropped 47% to $558.3 million during the same period.

The coffee chain's earnings per share also decreased 47.3% year-over-year to $0.49. Starbucks, one of the companies facing protests and boycotts over Israel's attacks on Gaza, also reported its sixth consecutive quarterly decline in US same-store sales.