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Original Text: Starbucks, the global coffee chain, reported earnings for the fourth quarter of its fiscal year. The company achieved revenue of $8.1 billion, representing a 31% increase compared to the same period last year. However, net income fell by 50% to $1 billion, attributed to higher operating costs and investments in new stores. The company opened 538 new stores during the quarter, bringing the total number of locations to 33,833 globally. Starbucks' CEO, Kevin Johnson, highlighted the company's continued expansion and commitment to long-term growth despite short-term financial challenges. Rewritten Text: Starbucks, the international coffee giant, has released its financial results for the fourth quarter of its fiscal year. The company posted a revenue of approximately $8 billion, marking a significant 31% increase from the same quarter the previous year. Despite the surge in revenue, Starbucks experienced a 50% drop in net income, which fell to around $1 billion. This decline has been attributed to rising operating costs and substantial investments in new store openings. During the quarter, Starbucks expanded its footprint by opening 538 new locations, bringing its global total to nearly 34,000 stores. CEO Kevin Johnson emphasized the company's focus on growth and expansion, asserting that Starbucks remains committed to its long-term strategic goals despite facing short-term financial hurdles.
