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Retail

Strong Sales Gains for Starbucks, Growing Stores and Traffic, and Dividend Hike

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By Jon C. Ogg Updated Published
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Starbucks Corp. (NASDAQ: SBUX) is surging after its earnings report as traffic rose for the coffee giant. Sales rose a sharp 6% for its same-store sales. The earnings reported by Starbucks came in at $359 million, or $0.46 per share. The results look unimpressive on the surface is you just compare them to $358.5 million or $0.47 per share a year ago, but the quarter a year ago was higher due to gains from real estate. To show this in perspective, total revenues were up 11% to $3.36 billion in the quarter.

Thomson Reuters was calling for $0.45 in earnings per share and revenue of $3.39 billion.

Guidance for the full year of 2013 came in at $2.06 to $2.15 per share, but the estimate we saw was $2.13 per share. In the coming year Starbucks is opening close to 1,200 new stores. A dividend hike of about 24% is not hurting the stock either. That will put its dividend up above 1.8%.

Starbucks shares rose by 1.5% to $46.62 on the day and shares are currently up close to 6% at $49.36 in the after-hours trading session.

JON C. OGG

Photo of Jon C. Ogg
About the Author Jon C. Ogg →

Jon Ogg has been a financial news analyst since 1997. Mr. Ogg set up one of the first audio squawk box services for traders called TTN, which he sold in 2003. He has previously worked as a licensed broker to some of the top U.S. and E.U. financial institutions, managed capital, and has raised private capital at the seed and venture stage. He has lived in Copenhagen, Denmark, as well as New York and Chicago, and he now lives in Houston, Texas. Jon received a Bachelor of Business Administration in finance at University of Houston in 1992. a673b.bigscoots-temp.com.

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