... year-on-year) on revenue of ~$9.3 billion (up 2% year-on-year). Despite growing sales, profits are squeezed by rising costs. Commentary: The main topics for Starbucks are the recovery of business in China and the impact of inflation costs (wages, rent, raw materials) on operating margins. Weak profit growth is expected, partly due to increased wages for employees and investments in café modernization. Investors will be keen to learn about comparable sales (like-for-like) on key markets: the U.S. (where ...