On November 3rd, a reporter from the Beijing News learned that Starbucks released its full year financial report for the 2023 fiscal year (October 2022 September 2023), which showed that the company's comprehensive net income for the entire fiscal year reached a historic high during the reporting period, with a year-on-year increase of 12% to $36 billion. In the Chinese market, the number of stores increased by 13% to 6806 by the end of the fiscal year.
According to financial reports, the Chinese market has maintained a significant improvement in various data for this quarter and the entire year. In the fourth quarter, revenue reached $840.6 million, a year-on-year increase of 15% (excluding the impact of exchange rate fluctuations); The annual revenue reached 3 billion US dollars, a year-on-year increase of 11% (excluding the impact of exchange rate fluctuations). In the fourth quarter, the same store sales increased by 5%, the same store transaction volume increased by 8%, and the average unit price per customer decreased by 3%; The same store sales increased by 2% throughout the year.
In the fourth quarter, Starbucks China net added 326 stores, setting a new historical record. Starbucks CEO Nasihan stated that he plans to open 9000 stores by 2025, or 1000 new stores per year.
Nasihan said: Our revenue in the Chinese market increased by 8% year-on-year this quarter, with a 15% year-on-year increase after removing the impact of approximately 6% exchange rate fluctuations. Our same store sales also increased by 5%, which is fully in line with our expectations. In China, our revenue continues to grow month on month every quarter, with revenue in the second half of the year increasing by 20% compared to the first half of the year, demonstrating our strong growth momentum. In September, we unveiled the Starbucks China Coffee Innovation Industrial Park, which opened This further demonstrates our positive outlook on this world's largest consumer market and our commitment to driving business growth in and for China