Business Intelligence on Retailing, Franchising, and Consumerism in China

Starbucks Net Income Up 28% In China And Asia Pacific In Q1 2013

According to the latest statistics provided by Starbucks, during its first financial quarter ended December 30, 2012, the company's net income from the Chinese and Asia Pacific market reached USD214.1 million, a year-on-year increase of 28% compared with the same period in 2012 financial year.

At the same time, the company emphasized that in the 2013 financial year, it plans to achieve net increase of 600 chain cafes in China and Asia Pacific. Of those outlets, over half will be opened in China.

The financial report showed that Starbucks' global net income reached a record high USD3.8 billion in the first financial quarter of 2013, an increase of 11% over last year. The growth was mainly attributed to the 6% sales growth in its comparable outlets worldwide as well as the income from its 401 new owned cafes opened in the past 12 months. In addition, the 13% income growth of channel development and 14% income growth of franchised stores also made contributions.

In this financial report, the Chinese and Asia Pacific market is a highlight. In the first quarter of 2013 financial year, Starbucks' net income from China and Asia Pacific was USD214.1 million, an increase of 28% year-on-year. The increase was attributed to the net increase of 166 owned cafes in the past 12 months and the 11% sales growth in comparable outlets. In addition, the income from franchised stores increased by 14%.

The international cafe chain said that for 2013 financial year, it aims to open 1,300 new outlets around the world, an increase of 22% compared with 2012 financial year. Of which, the company will have 600 new outlets in China and Asia Pacific. With the opening of new outlets and the improvements of sales and channel development business, Starbucks is expected to reach 10% to 13% income growth in 2013 financial year.

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