Wednesday, January 20, 2010

Starbucks Growth Revives, Perked by Via

Starbucks Corp. posted its first quarter of same-store sales growth since the end of 2008, citing the unexpected success of its Via instant coffee in the U.S. and strong holiday coffee sales in international markets.

U.S. same-store sales rose 4%, mainly due to a 4% increase in customers' average ticket that the company attributed mostly to Via.

"We expected a contribution from Via, but it was even more than we expected," said Starbucks Chief Financial Officer Troy Alstead in an interview. "We knew it fit perfectly for people on the go, but there was much bigger single-serve, at-home usage than we anticipated or hoped we could get in these early days."

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