posted a 10% jump in March same-store sales, aided by continued strength in seasonal beverages and the earlier timing of its annual brewing-products sale.
The coffee juggernaut's total revenue for the month rose to $743 million from $599 million a year earlier. Starbucks said the brewing event, which began nine days earlier than last year, helped bring customers to its stores.
In addition, the company said the Easter timing shift helped its March results, bucking the trend of other retailers that
blamed the later holiday for tepid sales figures.
Despite the strong March growth, Starbucks said it remains comfortable with its target of 3% to 7% same-store growth for the rest of the fiscal year.
"While we are very pleased with both net revenues and same store sales growth in March, we recognize that same store sales growth at this level is not sustainable," said Chief Financial Officer Michael Casey in a press release.
Starbucks shares advanced 2.3% after hours to $38.30.