Starbucks posts record revenue after opening hundreds of new stores

Starbucks has more than 38,000 stores worldwide (PA)

Starbucks has 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% to 9.4 billion US dollars (£7.7 billion). That surpassed Wall Street’s expectation of 9.3 billion dollars (£7.6 billion), according to analysts polled by FactSet.