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Starbucks' profit climbs 34 pct in 4Q

7:42 PM, Oct 30, 2013   |    comments
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NEW YORK (AP) - Starbucks says its profit rose 34 percent in its fiscal fourth-quarter, as the coffee chain attracted more customers around the world.

The Seattle-based company said global sales rose 7 percent at cafes open at least a year, including an 8 percent rise in both the U.S. and Asia.

Starbucks Corp. has managed to keep growing through a mix of measures. It's adding items such as Evolution juices, revamped its food offerings and hiked prices over the summer.

For the quarter, Starbucks said it earned $481.1 million, or 63 cents per share. Analysts expected 59 cents per share. A year ago, the company earned $359 million, or 46 cents per share.

Revenue rose to $3.8 billion, but was short of the $3.81 billion analysts expected.

(Copyright 2013 The Associated Press. All rights reserved.)

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