Starbucks reported record revenue in its fourth quarter as it improved sales and efficiency at its existing stores and opened hundreds of new ones. Revenue for the July-September period rose 11 per cent to $9.4 billion. That surpassed Wall Street’s expectation of $9.3 billion, according to analysts polled by FactSet. The Seattle coffee giant opened 816 net new stores in the quarter, ending its fiscal year with more than 38,000 stores worldwide. But the company said an ongoing revamp of its existing North American stores is also improving sales and making operations more efficient.
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