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 SEATTLE (AP) - Despite flat traffic in U.S. stores, Starbucks' aggressive global expansion helped second-quarter profits jump 18.5 percent, and even though the coffee chain's ever-growing presence around the world is driving up some costs, executives say they're confident the investment will pay off in the long run.
In a separate announcement before the quarterly results were released, Starbucks and the Ethiopian government said they expect to complete a licensing, distribution and marketing deal with Ethiopia this month that would settle a dispute over trademarks for three coffees produced in the African nation.
Starbucks Corp. said Thursday that net income for the 13 weeks ended April 1 was $150.8 million, or 19 cents a share — up from earnings of $127.3 million, or 16 cents per share, in the same period last year.
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