Strong holiday sales at helped Starbucks match Wall Street's quarterly earnings and revenue expectations, but its full-year guidance came in slightly light on Thursday.
The company announced on the conference call that Kevin Johnson, former CEO of Juniper Networks, would become president and chief operating officer on March 1. Earlier this month, Starbucks announced that its chief operating officer, Troy Alstead, planned to take an extended unpaid leave beginning March 1.
Alstead said he planned to dedicate the next year to his family. Howard Schultz, the company's Chairman, President and CEO, said he looked forward to Alstead's return.
Schultz is scheduled to be on CNBC's "Squawk on the Street" Friday.
The quarter represented the company's 20th consecutive quarter of comp growth of 5 percent or higher. This edged above analysts' estimates of 4.7 percent, according to Consensus Metrix. Traffic also grew.
The company expects earnings of $3.09 to $3.13 per share. This midpoint is below what analysts had expected.
Still, after the earnings announcement, the company's shares rose in extended-hours trading. (Click here to track its shares following the report.)
The company posted fiscal first-quarter adjusted earnings of 80 cents per share, up from 71 cents a share in the year-earlier period.
Revenue increased to $4.8 billion from $4.24 billion a year ago as sales accelerated into the holiday quarter.
Analysts were expecting coffee giant Starbucks to deliver earnings per share of 80 cents on $4.8 billion, according to a consensus estimate from Thomson Reuters.
What is Starbucks stock doing now? (Click here to track its shares following the report.)
One in seven Americans received a Starbucks gift card during the holiday quarter, and dollars loaded on the company's cards rose 17 percent.