The coffee chain outperformed Wall Street expectations, with reported comparable-store sales growth well above the 3.7% forecast cited in the source.
Starbucks shares moved higher after the company reported global same-store sales growth of 6.2%, exceeding Wall Street forecasts of 3.7%. Same-store sales, also known as comparable-store sales, are a closely watched retail metric because they show revenue growth from existing locations rather than from newly opened stores. The result indicates stronger-than-expected performance at Starbucks’ established global store base.