Starbucks Corp. ended fiscal 2014 with net income of $2.1 billion, after yet another record fourth quarter, the company reported Thursday.
For the fourth quarter ended Sept. 28, Seattle-based Starbucks said revenue rose 10 percent, to $4.2 billion, on same-store sales that increased 5 percent across each region and globally. It was the chain’s 19th consecutive quarter of same-store sales increases of 5 percent or more.
Traffic at U.S. units grew more slowly during the fourth quarter, rising 1 percent, compared with a 2-percent increase during the third quarter.
The company reported net income of $587.9 million for the fourth quarter, compared with a loss of $1.2 billion last year that reflected the impact of a $2.7 billion settlement with former grocery distribution partner Kraft at the end of fiscal 2013.
For the year, revenue increased 11 percent, to a record $16.4 billion.
“Starbucks’ performance in fiscal 2014 was extraordinary by any metric or comparison,” Howard Schultz, Starbucks chairman, president and chief executive, said in a statement. “But we cannot be content with the status quo, as consumers continue to demand more and more in terms of convenience and excellence.
“You will see us continue to invest where it counts most: in mobile commerce, innovation, in the customer experience and the partners who drive it and in the qualities of our coffees,” he said.
Starbucks ended the quarter with 21,366 locations in 65 countries.
For fiscal 2015, Starbucks projects a same-store sales increase in the mid-single digits, with revenue growth of 16 percent to 18 percent, including about $1 billion in benefits from a previously announced planned acquisition of Starbucks Japan.
4Q NET INCOME
Result: $587.9 million, or 77 cents per share(From -$1.2 billion, or -$1.64 per share)
4Q REVENUE
Result: $4.2 billion% Increase: 10% (from $3.8 billion)
4Q SAME-STORE SALES
% Increase consolidated: 5%
% Increase Americas: 5%
% Increase Europe, Middle East, Africa: 5%
% Increase China/Asia Pacific: 5%
Source: Company report
FULL YEAR NET INCOME
Result: $2.1 billion, or $2.71 per share% Increase: 24,817% (from $8.3 million, or 1 cent per share)
FULL YEAR REVENUE
Result: $16.4 billion% Increase: 10% (from $14.9 billion)
FULL YEAR SAME-STORE SALES
% Increase consolidated: 6%
% Increase Americas: 6%
% Increase Europe, Middle East, Africa: 5%
% Increase China/Asia Pacific: 7%
Source: Company report
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