Business, Economics and Jobs

Starbucks profits soar on sales in US, Asia


Starbucks' profits rose 13 percent last quarter on strong sales in Asia and the Americas.


Karen Bleier

Starbucks' profit jumped 13 percent in the latest quarter on domestic and global sales.

The Seattle-based cafe chain said that global sales jumped six percent, particularly from Asia.

At home, Starbucks' sales rose seven percent in stores open at least a year.

From October to December, Starbucks earned $432.2 million, reported the Wall Street Journal.

The Associated Press said the jump in profits last quarter may have been attributed to the popularity of the Pumpkin Spice latte.

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The news agency also said more customers were buying more food.

The new Verismo coffee machine added 0.5 percent to the profit increase in the Americas.

The chain sold more than 150,000 of the machines.

Starbucks has recently seen an increase in profits after being slammed by the global economic downturn.

In 2008, the chain re-hired its founder Howard Schultz to restructure the company and move towards what he has called "affordable luxury," reported the New York Times.