News Summary: Starbucks profit rises 13 percent

Published on NewsOK Modified: January 24, 2013 at 6:51 pm •  Published: January 24, 2013
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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.