Coffee anyone? Starbucks sees its profits triple

sjr4x4 · #1 (**permalink**) 22-01-10, 10:39 AM

From the BBC:

Starbucks is continuing to prove that it has successfully turned its fortunes around as it sees its latest quarterly profits more than triple.

The US coffee chain giant made a net profit of $241.5m (£148m) in the three months to the end of December, compared with $64.3m a year earlier.

Buoyed by extensive cost-cutting work over the past year, the firm has also won back customers in its home market.

Same store US sales rose 4%, their first rise in more than two years.

Starbucks' total revenues for the quarter rose to $2.7bn from $2.6bn a year earlier.

The firm has cut thousands of jobs and shut hundreds of under-performing stores over the past two years to trim costs.

It has also introduced new, lower price coffees to win back customers temped away by cheaper rivals.

Full article:
BBC News - Starbucks sees its profits triple

Dangers of expanding too quickly! Good recovery though

Stavros · #2 (**permalink**) 22-01-10, 10:49 AM

Fair play
can you believe they managed to turn it around 12-18 months ago they were on there knees.

I thought about opening a coffee chain and calling it costalotofcoffers.