Starbucks shares rise as revenue and customers surge

<p>Starbucks shares are up as customer numbers increase.</p>

Shares in American coffee chain Starbucks advanced before Wall Street closed for the day yesterday (November 2nd) and the franchise could continue to appreciate today, as it has announced an increase in customer numbers boosted its revenues by six per cent.

In the three months to the end of September, the company's net income at stores open for at least one year was $359 million (£222.6 million), the BBC reports.

Starbucks – which is the largest coffee chain in the world – said this good news means it will probably make higher-than-anticipated profits in the year to come.

Furthermore, the closure of 1,000 of its cafes during Hurricane Sandy will not make much of a dent in its takings.

Last month, Reuters reported that the firm had paid just £8.6 million in UK income tax since 1998 by reporting losses, but the company has denied any wrongdoing.

When the Nasdaq closed last night, Starbucks made 1.5 per cent gains to $46.62 per share.

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