SEATTLE, July 26, 2012 - Starbucks
Corporation (NASDAQ: SBUX) today reported financial results for its 13-week fiscal third quarter ended July 1, 2012.Fiscal Third Quarter 2012 Highlights: Total net revenues increased 13% to $3.3 billion U.S. comparable store sales increased 7%; Global comparable store sales increased 6% Channel Development revenues increased 45% to $316 million Operating income increased 22% to $492 million; operating margin expanded 120 basis points to 14.9% EPS increased 19% to $0.43 per share, compared to $0.36 per share in Q3 FY11 Starbucks opened 231 net new stores globally, including its 600th store in mainland China, and its first stores in Finland and Costa Rica.Q4 Fiscal 2012 Targets:The company has updated its Q4 FY12 revenue and EPS targets as follows: Revenue growth of 10% - 12% Earnings per share of $0.44 to $0.45, representing growth of 19% - 22% compared to Q4 FY11 non-GAAP EPSFiscal 2013 Targets:The company has introduced its initial FY13 revenue and EPS targets as follows: Revenue growth of 10% - 13% 1,200 net new stores, driven by acceleration in the U.S. and China Earnings per share of $2.04 to $2.14, representing growth of 15% - 20%“Starbucks record Q3 results demonstrate the continued strength of our global business and brand, the success of multiple, highly innovative consumer packaged goods initiatives and continued acceleration of our China and Asia-Pacific operations,” said Howard Schultz, chairman, president and ceo. “Despite coming in short of our expectations I am pleased with the increasing operating leverage we are seeing, the fact that this was our 11th consecutive quarter of record results and the fact that we achieved the results in the face of high legacy commodity costs and challenging economic and consumer headwinds in key markets. I am confident that we are operating with the discipline, flexibility and customer centricity necessary to enable us to continue driving EPS growth in excess of revenue growth over the long run,” Schultz added.“While still representing earnings growth of approximately 20% over last year’s fourth quarter, we have lowered our expectations for Q4 FY12 earnings per share to $0.44 to $0.45 to reflect the difficult economic environment all global retailers are confronting today,” commented Troy Alstead, cfo. “Nonetheless, we remain confident in the underlying strength of our business, in the strategies we have in place for driving sustained, profitable growth, and in our ability to again drive earnings growth in the range of 15% - 20% in fiscal 2013.”
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Quelle: EN, Starbucks