Starbucks raises forecast as traffic climbs
Starbucks has raised its forecast for the year. The coffee chain says more customers are going to its cafes, even in the challenging global economy.
The Seattle-based company says global revenue at cafes open at least a year rose 6 percent in the fiscal fourth quarter, driven by higher customer traffic. The measure is a key gauge because it strips out the impact of newly opened and closed locations.
Starbucks lifted its guidance for the year ending in September 2013.
The company is also increasing its quarterly dividend 24 percent, to 21 cents.
Starbucks shares were up more than 7 percent in after-hours trading.
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