Starbucks keeps up strong growth

Starbucks reported third quarter of very robust growth, this time +31% (Like for like sales grew by 17%). After the serious decline during the pandemic, the company has grown for +20% from the Q3/2019 level. Also profitability of $1,7 billion is reaching the all time highs from 2018.

The strong performance is partly arising from the Starbucks Loyalty program, which boasts of nearly 25 million members, up from 19 million a year ago. They have loaded whopping $2,4 billion in their cards for future use.