Starbucks (SBUX-NASDAQ): $2.4 Billion revenues and EPS $0.26; estimates were $0.26 & $2.35 Billion. SBUX is up 1.6% at $35.50 in after-hours. Starbucks reaffirmed its fiscal 2007 targets:
Will open at least 2,400 new stores on a global basis in fiscal 2007. In the United States, Starbucks plans to open approximately 1,000 Company-operated locations and 700 licensed locations. In International markets, Starbucks plans to open approximately 300 Company-operated stores and 400 licensed stores;
The Company is targeting total net revenue growth of 20% for the full year and comparable store sales growth remains in the target range of 3% to 7%;
EPS for 2007 targeted in the range of $0.87 – $0.89 for fiscal 2007.
Shares are actually down 12% from the $40.01 recent highs and are very close to the price they started on October 1.
Here is what my partner gave on it back on DEC 12 when the stock was at $36.00.
-Record quarterly retail store openings of 728 stores
-Net revenues of $2.4 billion, an increase of 22 percent
-Comparable store sales growth of six percent
-Net earnings of $205 million, an increase of 18 percent
-Earnings per share of $0.26, compared to $0.22 per share, an increase of 18 percent
-Record quarterly Starbucks Card activations of $287 million, an increase of 30 percent
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