Starbucks Corporation (NASDAQ:SBUX) stock fell 0.95% (As on Feb 2, 11:41:00 AM UTC-4, Source: Google Finance) after the company posted mixed results for the first quarter of FY 22. Global comparable store sales rose 13%, driven by a 10% increase in comparable transactions and a 3% increase in average ticket. North America and U.S. comparable store sales increased 18%, primarily driven by a 12% increase in comparable transactions and a 6% increase in average ticket. International comparable store sales decreased 3%, driven by a 5% decline in average ticket, partially offset by a 2% increase in comparable transactions; China comparable store sales decreased 14%, driven by a 9% decline in average ticket and a 6% decline in transactions; International and China comparable store sales include adverse impacts of approximately 3% and 4%, respectively, from lapping prior-year value-added tax exemptions in China. The company opened 484 net new stores in the first quarter of fiscal 2022, yielding 4% year-over-year unit growth, ending the period with a record 34,317 stores globally, of which 51% and 49% were company-operated and licensed, respectively. Stores in the U.S. and China comprised 61% of the company’s global portfolio at the end of the first quarter of fiscal 2022, with 15,500 and 5,557 stores, respectively. Net revenues for the North America segment grew 23% over Q1 FY21 to $5.7 billion in Q1 FY22 and net revenues for the International segment grew 12% over Q1 FY21 to $1.9 billion in Q1 FY22. The Zacks Consensus Estimate for revenues for North America and International segments is pegged at $5,634 million and $1,891 million.

SBUX in the first quarter of FY 22 has reported the adjusted earnings per share of 72 cents, missing the analysts’ estimates for the adjusted earnings per share of 80 cents, according to the Zacks Consensus Estimate. The company had reported the adjusted revenue growth of 19 percent to $8.1 billion in the first quarter of FY 22, beating the analysts’ estimates for revenue of $7.99 billion. This is mainly driven by a 13% increase in comparable store sales primarily from lapping the unfavorable impact of business disruption in the prior year due to the COVID-19 pandemic and strength of new U.S. company-operated stores compared to the prior year performance of stores closed as a part of our North America Trade Area Transformation.

Additionally, the company declared a cash dividend of $0.49 per share, payable on February 25, 2022, to shareholders of record as of February 11, 2022.