Starbucks posts record quarterly sales thanks to US business

Strong U.S. sales helped make up for weakness in other markets in Starbucks’ fiscal fourth quarter. The Seattle coffee giant said its North American same-store sales — or sales at locations open at least a year — jumped 22% in the July-September period. But same-store sales in China fell 7% as coronavirus cases once again disrupted store traffic. Starbucks said its revenue rose 31% to $8.1 billion for the quarter, an all-time high. But that was short of Wall Street’s forecast. The company said its net income more than quadrupled to $1.76 billion.