Starbucks Corporation (Nasdaq:SBUX) today reported consolidated net revenues of $751 million for the five-week period ended July 2, 2006, an increase of 22 percent from consolidated net revenues of $618 million for the same five-week period in fiscal 2005. On a comparable store sales basis (stores open for at least 13 months), sales at Company-operated stores increased six percent for the five weeks ended July 2, 2006, as compared to the same five-week period in fiscal 2005.
"In June, we continued to deliver solid revenue and comparable store sales growth in line with our growth targets," stated Jim Donald, Starbucks president and chief executive officer. "Sales were primarily driven by the popularity of our seasonal handcrafted blended beverages. In addition, food sales were a strong contributor, from both expanded lunch locations and enhanced bakery offerings, all delivered with friendly and enthusiastic service by our store partners."
For the 39 weeks ended July 2, 2006, consolidated net revenues were $5.8 billion, an increase of 23 percent from consolidated net revenues of $4.7 billion for the same 39-week period in fiscal 2005. Comparable store sales increased eight percent for the 39 weeks ended July 2, 2006, as compared to the same 39-week period in fiscal 2005.
Net stores opened during
the 39 weeks ended Stores open as of
July 2, 2006 July 2, 2006
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United States:
Company-operated Stores 526 5,393
Licensed Stores 517 2,952
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1,043 8,345
International:
Company-operated Stores 162 1,357
Licensed Stores 338 2,082
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500 3,439
Total 1,543 11,784
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Starbucks plans to release its fiscal third quarter 2006 financial results on August 2, 2006, and will hold a conference call at 1:30 p.m. Pacific time on the 2nd 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.
Through the dedication of our passionate partners (employees), Starbucks Coffee Company has transformed the way people in 37 countries enjoy their coffee, one cup at a time. Starbucks is the premier purveyor of the finest coffee in the world, with more than 11,500 retail locations in North America, Latin America, Europe, the Middle East and the Pacific Rim. The Company is committed to offering its customers the highest quality coffee and human connection through the Starbucks Experience, while striving to improve the social, environmental and economic well being of its partners, coffee farmers, countries of coffee origin, and the communities which it serves. Through Ethos Water, Starbucks demonstrates its long history of integrating a social conscience into all aspects of its business. The Company surprises and delights its customers by producing and selling bottled Starbucks Frappuccino(R) coffee drinks, Starbucks DoubleShot(R) espresso drink and Starbucks(R) superpremium ice creams through its joint venture partnerships, and Starbucks(TM) Coffee and Cream Liqueurs through a marketing and distribution agreement, in other convenient locations outside its retail operations. The Company's brand portfolio includes superpremium Tazo(R) teas, Starbucks Hear Music(TM) compact discs, Seattle's Best Coffee and Torrefazione Italia. These brands' unique and innovative personalities allow Starbucks to appeal to a broad consumer base.
(C) 2006 Starbucks Coffee Company. All rights reserved.
JoAnn DeGrande, 206-318-7893 (Investor Relations)
jdegrand@starbucks.com
T. May Kulthol, 206-318-7100 (Media)
mkulthol@starbucks.com
