Starbucks

Slumping profits despite record sales

In his third term as Starbucks CEO, Howard Schultz has mixed numbers to present.
IMAGO / ZUMA Wire
In his third term as Starbucks CEO, Howard Schultz has mixed numbers to present.

Despite higher prices Starbucks remains in demand - the world's largest café chain has made record sales in the summer. In the fiscal quarter to the beginning of October, revenues increased three percent year-on-year to an all-time high of $8.4 billion (8.6 billion euros), Starbucks announced last week.

Increased expenses, such as higher wages, nevertheless caused profits to fall sharply. At the bottom line, Starbucks earned 878 million dollars - only

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