Starbucks Corp. topped Wall Street estimates for quarterly comparable sales and profits on Thursday, saying it will weather any coming recession by selling customized cold drinks through its rewards app to grow its ranks of younger, wealthier customers.
Demand in North America for pricier drinks remained strong and declines in China were not as bad as projected in its fourth quarter ended Oct. 2. Earnings were $0.81 per share, versus analyst expectations of $0.72, according to Refinitiv IBES.
