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Starbucks Corporation Message Board

  • bluecheese4u bluecheese4u Jan 24, 2013 6:14 PM Flag

    Starbucks Reports Record First Quarter Fiscal 2013 Results

    Starbucks Reports Record First Quarter Fiscal 2013 Results

    Strong Comparable Store Sales Growth of 7% in US and Americas and 6% Globally

    Robust Holiday Contributes to an 11% Increase in Revenues to a Record $3.8 Billion

    EPS Rises 14% to a Record $0.57

    Company Reaffirms FY13 Growth Targets

    SEATTLE--(BUSINESS WIRE)--Jan. 24, 2013-- Starbucks Corporation (NASDAQ: SBUX) today reported financial results for its 13-week fiscal first quarter ended December 30, 2012.

    Fiscal First Quarter 2013 Highlights:

    Total net revenues increased 11% to a record $3.8 billion
    Global comparable store sales grew 6%, driven by a 4% increase in traffic and a 2% increase in average ticket
    Americas comparable store sales grew 7%, China/Asia Pacific comparable store sales grew 11%
    Consolidated operating margin expanded 40 basis points to 16.6%
    EPS increased 14% to a record $0.57 per share, compared to $0.50 per share in Q1 FY12
    Opened 212 net new stores globally, including the first 3 stores in India
    Sold more than 150,000 Verismo® machines since launch, marking a strong debut of this emerging platform
    Added 1.4 million new My Starbucks Rewards members in the U.S., up 86% over the 778,000 new members added in the U.S. in Q1 FY12
    Acquired Teavana Holdings, Inc. on December 31, making Teavana a wholly-owned subsidiary of Starbucks and positioning Starbucks to become the global leader in tea
    “Starbucks strong performance in Q1 demonstrates the strength, and unique resilience, of our increasingly global business, and the power and growing relevance of the Starbucks brand to consumers and communities all around the world,” said Howard Schultz, chairman, president and chief executive officer, Starbucks Coffee Company. “Solid growth in our U.S. retail business, further expansion of our Channel Development initiatives and continued successful execution against our expansion plans throughout China and Asia Pacific all contributed to the record results we announced today. Starbucks has never been better positioned to achieve the goals we have set for ourselves around the world and I have never been more optimistic about our future.”

    “Record earnings in the first quarter continued our strong momentum, reflecting the underlying strength in our core business,” commented Troy Alstead, chief financial officer. “We delivered excellent holiday results with 6% global comps, marking the 12th consecutive quarter of comps in excess of 5%. Our first quarter results demonstrate both efficiency, with record US productivity, and innovation, with the successful launch of Verismo, our newest growth platform.”

    Added Alstead, “Despite significant and unexpected cost pressures in the quarter, we achieved our earnings growth target and delivered record EPS. Starbucks strong Q1 performance reaffirms our confidence in the aggressive FY13 growth targets we announced in early November. The quality and diversity of growth drivers in the business, combined with our continued focus on operational excellence, gives us confidence in sustainable, strong profitable growth.”


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