Starbucks March Same-Store Sales Up 6%

Starbucks ( SBUX) posted March sales gains on Wednesday at the high end of its long-term target range, thanks to strong sales of its espresso beverages and the continued expansion of its food program.

The coffee giant said same-store sales for the month rose 6% over the same month last year, hitting the high end of its long-term guidance of 3% to 7% gains. The gain was about three-tenths of a percent below Wall Street forecasts.

Total revenue reached $599 million, a 22% increase over last year's $493 million.

"Delivering strong comparable-store sales growth at the high end of our longer-term target range demonstrates our ongoing ability to grow the Starbucks brand on a global basis," Jim Donald, Starbucks' president and chief executive officer, said in a statement.

Shares of Starbucks closed up 39 cents, or 0.7%, to $52.13.

More from Stocks

3 Ways to Fix Starbucks Biggest Challenges

3 Ways to Fix Starbucks Biggest Challenges

General Electric's Boot From the Dow: Is This as Bad as It Can Get?

General Electric's Boot From the Dow: Is This as Bad as It Can Get?

News From Starbucks and General Electric Leaves Their Investors Up in Arms

News From Starbucks and General Electric Leaves Their Investors Up in Arms

Facebook Messenger Could Bring in Billions of Dollars -- Here's How

Facebook Messenger Could Bring in Billions of Dollars -- Here's How

How to Invest in Cannabis - In Its Many Forms

How to Invest in Cannabis - In Its Many Forms