Starbucks drinks are the most expensive they’ve ever been, but customers keep coming back.
As stores nationwide hiked prices due to inflation, sales continued to climb, the company said in its earnings report released on Thursday.
The global coffee chain reported record-breaking sales over the last fiscal quarter that ended in October. In North America, sales were up 11% compared to the same period last year.
Starbucks saw a 10% increase in the average ticket, meaning customers spent 10% more on each purchase this year than they did during the same period last year, on average, according to the report.
In North America, Starbucks generated $6.1 billion in revenue last quarter, up 15% from the prior year — another all-time record, said Rachel Ruggeri, Executive Vice President and CFO, on a conference call with investors.
But profits were down, at $1.1 billion last…
