Starbucks posts record fourth quarter revenue after opening hundreds of new stores

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Customers fell for Starbucks’ fall menu in its fiscal fourth quarter, helping the company achieve record revenue with Pumpkin Spice Lattes and apple croissants

Customers fell for Starbucks' fall menu in the fiscal fourth quarter, with Pumpkin Spice Lattes and apple croissants helping the company achieve record revenue.

But the company said Thursday that growth could moderate in the coming year as it faces economic uncertainty around the world.

Revenue for the July-September period rose 11% to $9.4 billion. That surpassed Wall Street’s expectation of $9.3 billion, according to analysts polled by FactSet.

For the full fiscal year, Starbucks' revenue rose 11.6% to $35.9 billion. The company said it expects revenue growth at the low end of a 10% to 12% range for the upcoming fiscal year.

Starbucks CEO Laxman Narasimhan said the company saw record-breaking weekly sales after the launch of the Pumpkin Spice Latte in late August. The drink, which is Starbucks' most popular seasonal beverage, turned 20 this year.

Starbucks said its global same-store sales – or sales at stores open at least a year — rose 8%, surpassing analyst forecasts for a 6.8% increase. Global same-store sales were also up 8% for the full year.

In the upcoming fiscal year, Starbucks said it expects same-store sales growth between 5% and 7%. Narasimhan said the company isn't yet seeing much change in consumer demand but is watching the economic environment closely.

In the fiscal fourth quarter, U.S. same-store sales rose 8%; store traffic was up 2% and consumers spent more per visit on things like food and customized drinks. Prices were also higher.

For the full year, U.S. same-store sales grew 9%. Starbucks expects that to slow to between 5% and 7% for the