(New York) Coffee giant Starbucks, which plans to increase its employees in the United States in the coming months, on Thursday reported higher profits and sales, but its sales, weighed down by a decline in China, have disappointed.
Its title fell about 4% in post-session trading on Wall Street.
The sales of the distributor of cappuccino, iced tea and snacks, increased 31% in the three months ending October 3, to a record level of 8.1 billion dollars.
But that’s less than the 8.2 billion expected by analysts.
Same-store sales performed well in the United States and some countries over the period, but fell in China, Starbucks’ second-largest market, which recently stepped up health control measures amid a surge in cases of COVID-19.
For the group’s full fiscal year, which ended on October 3, sales rose 24% to $ 29.1 billion, again arriving a little below expectations.
Starbucks’ net income, which has a total of nearly 34,000 establishments, has for its part more than quadrupled over the quarter and the year, to respectively $ 1.76 billion and $ 4.2 billion. .
The group had announced the day before wanting to increase by summer 2022 the average salary of its employees in the United States to 17 dollars an hour, with a minimum wage of between 15 and 23 dollars depending on the region.
Starbucks has been facing claims for several weeks by a group of employees from several establishments in Buffalo, upstate New York. At the end of August, they officially expressed their desire to create a union, which would be a first for the coffee chain if they managed to collect enough votes.