Starbucks is making more money — but a divisive presidential election is making business tougher, the company's president told CNBC's on Friday.
"All retailers are facing some challenging operating conditions today," said Kevin Johnson, president and chief operating officer for Starbucks. "Certainly, the election is creating a lot of noise in the market. That's requiring retailers, us included, to work harder to break through. "
The coffee chain posted better-than-expected quarterly earnings on Thursday, hitting a fiscal fourth-quarter record. But same-store sales, a key measure of improvement in the restaurant industry, fell short of Wall Street's estimates.
The Seattle-based company reported adjusted earnings of 56 cents a share on $5.71 billion in revenue, topping the 55 cents a share on $5.68 billion in revenue expected by a Thomson Reuters consensus estimate.