US-based coffee chain Starbucks‘ global sales fell 4% in the October-December period last year, according to first quarter fiscal year 2025 results released Tuesday.
Fiscal year 2025 begins with October 2024 in Starbuck’s financial calendar.
The company’s comparable store sales declined 4% in North America, while its sales in China decreased by 6%.
Starbucks’ revenue was $9.4 billion for the three months ended Dec. 29, 2024, unchanged compared to the same period of the previous year.
The company’s earnings per share decreased by 23% to $0.69 compared to the same period of 2023.
The Seattle-based coffee chain opened 377 net new stores over the same period, reaching 40,576 stores.