Starbucks quarterly results lifted by tea and baked goods
Latest quarterly numbers from Starbucks showcased its ability to draw in customers for things other than coffee, namely tea. Quarterly like-for-like sales rose by 6% thanks to a wider range of novel tea-based beverages under the Teavana brand. These include iced teas and Oprah Chai, a blend designed by Oprah Winfrey back in March. La Boulange bakery items such as breakfast and lunch sandwiches also helped reach record quarterly revenues. Some innovations that the company is pushing include sodas, high-end coffee from its own farm in Costa Rica and a 24-hour store, which recently opened in Beijing.