Starbucks Corporation reported consolidated earnings results for the first quarter ended December 29, 2013. For the quarter, the company's sales were $4,239.6 million against $3,793.2 million a year ago. EPS was $0.71, ahead of expectations of $0.69 per share. Global comp store sales grew 5%, driven by a 4% increase in traffic. Profit rose by 25% as it benefited from lower coffee costs and stronger sales around the world. The company earned $540.7 million against $432.2 million a year ago. Operating income increased 29% to $814 million against $631 million a year ago.

The company reaffirmed earnings guidance for the second quarter, third quarter, fourth quarter and 2014. For the second quarter, EPS now expected to be in the range of $0.54 to $0.55.

For the third quarter, EPS now expected to be in the range of $0.64 to $0.66.

For the fourth quarter, EPS now expected to be in the range of $0.70 to $0.75.

For 2014, the company's earnings per share now expected to be in the range of $2.59 to $2.67. Revenue growth of 10% or greater. Global comparable store sales growth in the mid single digits. Consolidated operating margin improvement of approximately 150 to 200 basis points over FY13: Americas: moderate improvement over fiscal year 2013; EMEA: operating margin improving toward the high single digits; -- CAP: operating margin percentage moving toward the low 30's; Channel Development: moderate improvement over fiscal year 2013; Consolidated tax rate of approximately 34.5%. Capital expenditures of approximately $1.2 billion.