Starbucks celebrates today, with a rich calendar of events, the 5 anniversary of its arrival in Italy. We are generating momentum and positive results behind each of our iconic brands by focusing on new menu innovations supported by exceptional marketing and operations".ĮFA News - European Food Agency Similar Economy and financeStarbucks puts out the first 5 candles in Italy Catrambone: "We continue to expand the store network". "I'm proud of the performance of our teams and franchisees, who contributed to 14 percent growth in systemwide sales and another quarter of improved franchisee profitability -stressed ceo Josh Kobza. The eps of $0.85 exceeded the consensus value of $0.77 and last year's level of $0.82. Net income rose to $351 million from $346 million a year ago, while adjusted ebitda of $665 million increased 10.3% organically over the previous year, with all four segments up. Behind is Tim Hortons with +5.8% net growth (+15% sales to over $2 billion), followed by Burger King with +2.4% net growth (+13.8% sales to over $6.9 billion) and Firehouse Subs up 2.1% (+5.1% sales to $307 million). Net restaurant growth was 4.1% for the quarter, with the Popeyes brand posting the largest percentage increase with +10.9% net growth, +15% in sales to over $1.7 billion. The increase in sales, the sopciety points out, "was partially offset by unfavorable exchange rate movements during the quarter". Consolidated sales rose 9.6 percent in the quarter to more than $30.1 billion overall, surpassing consensus estimates, with positive growth in the Tim Hortons (+11.4%), Burger Kings (+10.2%), Popeyes (+6.3%) and Firehouse Subs (+2.1%) chains. Restaurant Brands International, the Canadian-American multinational fast food holding company, is off to a good start on the Wall Street stock exchange today (+1%) after beating analysts' consensus estimates for second quarter earnings.
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