Starbucks releases Q2 results for fiscal year 2021 Starbucks ready-to-drink coffee market share

On April 28th Starbucks, the world's largest coffee chain, handed over another "proud" report card.

Starbucks reported results for the second quarter of fiscal 2021, which ended March 28, 2021.

According to the financial report, Starbucks' net revenue in the second quarter was $6.668 billion, up 11.2% from a year earlier, while net profit was $659.4 million, up 100.8% from a year earlier.

In terms of regional revenue, revenue in the Americas was $4.6646 billion, an increase of 8 per cent over the same period last year, while revenue in the international region was $1.6109 billion, an increase of 42 per cent. In the case of Starbucks in China, its second-quarter revenue was $860.6 million (5.579 billion yuan). Same-store sales increased by 91%, and transaction volume increased by 93%.

In terms of the number of stores, Starbucks had 32943 stores worldwide by the end of the second quarter, of which 51 per cent were operated by the company and 49 per cent were franchises. The number of stores in the US and China is 15288 and 4973 respectively, accounting for 62 per cent of the company's total global stores.

"this is equivalent to a 14 per cent increase in the number of our net new stores over the past 12 months," said Kevin Johnson, chief executive of Starbucks, reflecting the rapid growth of its stores.

In addition, on April 27th, Starbucks achieved its promised goal of "opening 5000 stores in China in 2021". The number of Starbucks stores has increased by more than 700 this year, compared with 4292 in 2020.

In terms of product categories, Starbucks has increased its market share of ready-to-drink drinks in China this quarter.

Of course, in the case of Starbucks China, in addition to an increase in regional revenue, the number of stores and product categories, the results also show that Starbucks is also unique in its online business.

In the second quarter bear, Starbucks opened an official flagship store in JD.com on March 3 this year, which mainly sells Starbucks coffee cups, coffee utensils and various gift cards and vouchers. In addition, Starbucks has extended its "Kaikai" business to the Wechat platform. On March 16, Starbucks China Cafe Express ™service officially launched WeChat Mini Programs. At the same time, Starbucks also launched two new functions, "helping TA Belt" and "Coffee Social experience Edition". These two new functions were also launched in WeChat Mini Programs.

At this level, as Starbucks' digital innovation is gradually being promoted, Starbucks' revenue in China is showing an increasing proportion of mobile orders in the financial report.

According to the snack generation report, Starbucks CEO Kevin Johnson revealed that mobile orders accounted for a record 34% of Starbucks' China sales in the second quarter, up from 30% of the first fortune. Of these, 15% came from Starbucks and 19% from Starbucks. Sales of Starbucks China Mobile orders have more than doubled in the past year.

Overall, Starbucks' financial report set another record of high marks. For its fiscal year 2021 outlook, Starbucks expects revenue of between US $28.5 billion and US $29.3 billion in fiscal 2021, and global store sales increased by 18% to 23% year-on-year. 2150 new stores have been opened, of which about 600 online stores have been opened in China.

As for the longer-term development plan, Starbucks said it expects same-store sales in China to grow by 2% to 4% a year from fiscal year 2023, up 1% from the previous range of 1% to 3%. Starbucks expects to have 55000 stores by 2030.

* Image source: Internet