U.S. coffee chain titan Starbucks Corporation said Wednesday it will release the financial results for the third quarter of the fiscal year 2019 next week, with market analysts forecasting a slight growth in its sales for the current quarter.
Analysts expected Starbucks to register about 6.68 billion U.S. dollars in sales for the third quarter, a slight increase from the figure of 6.31 billion dollars during the same period of last year.
Starbucks will likely report 26.24 billion dollars for the full year of 2019, according to estimates of Zacks Investment Research, a leading financial analysis firm.
Market analysts predicted that the American coffee company will post earnings per share (EPS) of 0.73 dollar for the current fiscal quarter, while it reported its EPS at 0.62 dollar during the same period in 2018.
On April 25, Starbucks posted a net income of 663.2 million dollars for the second quarter, or 53 cents per share, up from 660.1 million dollars, or 47 cents per share, from a year ago.
The company said the net number of stores opened in the second quarter rose 7 percent across the globe over the same period of last year, led by a 17 percent-growth in China.
Its same-store sales in China rose 3 percent, though transactions went down by a slight 1 percent.