Message #24 From:
Stock News Bot Date: November 3, 2005 10:05:00 AM
SBUX News Starbucks Reports Strong October Revenues; Net Revenues Increase 21 Percent; Comparable Store Sales Increase 7 Percent
SEATTLE--(BUSINESS WIRE)--Nov. 3, 2005--Starbucks Corporation (Nasdaq: SBUX) today reported consolidated net revenues of $550 million for the four-week period ended October 30, 2005, an increase of 21 percent from consolidated net revenues of $455 million for the same period in fiscal 2005. On a comparable store sales basis (stores open for at least 13 months), sales at Company-operated stores increased seven percent for the four weeks ended October 30, 2005, as compared to the same four-week period in fiscal 2005.
"October's robust results can be attributed to the strength of our core handcrafted espresso beverages," commented Jim Donald, president and chief executive officer of Starbucks. "We are off to a good start to our new fiscal year and look forward to the launch of our Holiday celebration next week. However, we remain mindful that November 2004 was the strongest comparable store sales month in the last ten years."
This year, the Holiday celebration begins at Starbucks on November 10, 2005 with the arrival of the Starbucks red cup and Starbucks(R) Christmas Blend coffee in the Company's stores. Starbucks invites customers to visit its exclusive website, TheRedCup.com, to see all the fun activities and great ideas for celebrating the holidays that the Company has planned to surprise and delight customers each day throughout the season.
Net stores opened during
the 4 weeks ended Stores open as of
October 30, 2005 October 30, 2005
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United States:
Company-operated
Stores 44 4,911
Licensed Stores 101 2,536
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145 7,447
International:
Company-operated
Stores 11 1,144
Licensed Stores 37 1,843
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48 2,987
Total 193 10,434
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Starbucks plans to release its fourth quarter and fiscal year end 2005 financial results on Thursday, November 17, 2005, and will hold a conference call at 1:30 p.m. Pacific time on that date to discuss these results. The conference call will be broadcast live over the Internet and can be accessed at: http://www.starbucks.com/aboutus/investor.asp.
Starbucks Corporation is the leading retailer, roaster and brand of specialty coffee in the world, with more than 10,000 retail locations in North America, Latin America, Europe, the Middle East and the Pacific Rim. The Company is committed to offering the highest quality coffee and the Starbucks Experience while conducting its business in ways that produce social, environmental and economic benefits for communities in which it does business. In addition to its retail operations, the Company produces and sells bottled Frappuccino(R) coffee drinks, Starbucks DoubleShot(R) espresso drink, and a line of superpremium ice creams through its joint venture partnerships. The Company's brand portfolio provides a wide variety of consumer products -- innovative superpremium Tazo(R) teas and exceptional compact discs from Starbucks Hear Music(TM) enhance the Starbucks Experience through best-of-class products. The Seattle's Best Coffee(R) and Torrefazione Italia(R) coffee brands enable Starbucks to appeal to a broader consumer base by offering an alternative variety of coffee flavor profiles.
This release includes a forward-looking statement regarding comparable store sales expectations. This forward-looking statement is based on currently available operating, financial, and competitive information and is subject to various risks and uncertainties. Actual future results and trends may differ materially depending on a variety of factors including but not limited to, coffee, dairy and other raw material prices and availability, successful execution of internal performance and expansion plans, fluctuations in U.S. and international economies and currencies, the impact of initiatives by competitors, the effect of legal proceedings, and other risks detailed in the Company's filings with the Securities and Exchange Commission, including the "Certain Additional Risks and Uncertainties" section of Starbucks Annual Report on Form 10-K/A for the fiscal year ended October 3, 2004. The Company assumes no obligation to update any of these forward-looking statements.
(C) 2005 Starbucks Coffee Company. All rights reserved.
