Starbucks sees sales ahead of forecasts
07 November 2011 12:42
Starbucks has reported sales ahead of forecasts and a fourth-quarter net income rise of 29%.
Net income in the period to October 2nd totalled $358.5 million, up from $278.9 million a year earlier.
International same-store sales rose 6%, above analysts' estimates of a 5.2% rise, while sales at US stores open at least 13 months climbed 10%, above a 7.5% forecast.
Global comparable store sales rose by 9% compared with analysts' average estimate of 6.9%.
"The record results we reported today for the fourth quarter and the full fiscal year is a testament to the overall health and strength of our global business," commented Troy Alstead, Starbucks' CFO.
"The momentum we have built throughout the year continued in the fourth quarter, with the strength of same-store sales growth demonstrating that our product innovation and overall store experience are resonating extremely well with our customers.
"As a result of the strong finish to fiscal 2011, Starbucks entered the new fiscal year well positioned to continue pursuing significant profitable growth opportunities."
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