Starbucks Reports February Revenues.Business Editors
SEATTLE--(BUSINESS WIRE)--Feb. 28, 2002
Starbucks Corporation (Nasdaq:SBUX SBUX Starbucks Corporation (stock symbol)
SBUX Starbucks Coffee Company ) today reported consolidated net revenues of $238 million for the four-week period ended February February: see month. 24, 2002, an increase of 23 percent from consolidated net revenues of $193 million for the same period in fiscal 2001.
On a comparable store sales basis (stores open for at least 13 months), sales at company-operated stores increased 6 percent for the four weeks ended February 24, 2002 as compared to the same four-week period in fiscal 2001.
For the 21 weeks ended February 24, 2002, consolidated net revenues were $1.3 billion, an increase of 22 percent from consolidated net revenues of $1.0 billion for the same period in fiscal 2001. Comparable store sales increased 3 percent for the 21 weeks ended February 24, 2002, as compared to the same 21-week period in fiscal 2001.
"In February we continued to see many Starbucks Card redemption transactions as a result of gift-giving over the December December: see month. Holidays, as well as new card activations for business gifts and personal use," commented Orin Orin, Orrin and Orren mean "little green one" while Oran, Orran and Orane mean "dark-haired". All variations are Gaelic and Celtic (languages). In Hebrew, the name Oren means "pine tree."
Orin and Oran differ in meaning but both names are derived from the Gaelic St. Smith, Starbucks president and chief executive officer. "We look forward to building on this platform through new card designs and programs intended to drive non-holiday activations and redemptions."
STORE INFORMATION Net stores opened during the 21 weeks ended Stores open as of February 24, 2002 February 24, 2002 ----------------- ----------------- Continental North America: Company-Operated Stores 257 3,228 Licensed Stores 121 930 --- --- 378 4,158 International: Company-Operated Stores 48 343 Licensed Stores 114 748 --- --- 162 1,091 Total 540 5,249 === =====
The Company re-emphasized the following fiscal 2002 goals:
-- Starbucks expects full-year revenues to grow approximately 20 percent and comparable store sales growth in the low single digits, with monthly anomalies in fiscal 2002. -- The Company continues to target fiscal year 2002 earnings per share in the range of $0.52 to $0.53, excluding the $0.02 per share capital gain from the sale of Starbucks Japan shares recorded in the first quarter.
Starbucks Coffee Company is the leading retailer, roaster roaster
a young fowl for eating; weighs 5 to 7 lb at 6 months of age. and brand of specialty coffee in the world. In addition to its more than 5,000 retail locations in North America North America, third largest continent (1990 est. pop. 365,000,000), c.9,400,000 sq mi (24,346,000 sq km), the northern of the two continents of the Western Hemisphere. , Europe, the Middle East and the Pacific Rim Pacific Rim, term used to describe the nations bordering the Pacific Ocean and the island countries situated in it. In the post–World War II era, the Pacific Rim has become an increasingly important and interconnected economic region. , Starbucks sells coffee and tea products through its specialty operations, including its online store at Starbucks.com. Additionally, Starbucks produces and sells bottled Frappuccino(R) coffee drink and a line of superpremium ice creams through its joint venture partnerships. The Company's other brands enhance the Starbucks Experience through best-of-class products: Tazo Tea Company offers a line of innovative premium teas, and Hear Music produces and distributes a line of exceptional compact discs.
This release includes forward-looking statements forward-looking statement
A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. within the meaning of the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995. Such statements, including anticipated store openings, trends in or expectations regarding the Company's operations and financial results, constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements are based on currently available operating, financial and competitive information and are subject to various risks and uncertainties. Actual future results and trends may differ materially depending on a variety of factors, including, but not limited to, coffee and other raw material prices and availability, successful execution of internal performance and expansion plans, the effect of slowing U.S. and international economies, the economic ramifications ramifications npl → Auswirkungen pl of the September 11, 2001 terrorist attacks and the governmental response thereto there·to
1. To that, this, or it.
2. Archaic In addition to that; furthermore.
1. to that or it
2. , the impact of competition, the effect of legal proceedings All actions that are authorized or sanctioned by law and instituted in a court or a tribunal for the acquisition of rights or the enforcement of remedies. , and other risks detailed in the Company's filings with the Securities and Exchange Commission.