Starbucks Reports February Revenues.SEATTLE--(BUSINESS WIRE)--Feb. 26, 1998--Starbucks Corporation (Nasdaq: SBUX SBUX Starbucks Corporation (stock symbol)
SBUX Starbucks Coffee Company ) today reported consolidated net revenues of $87.7 million for the four-week period ended February 22, 1998, an increase of 33 percent from consolidated net revenues of $66.0 million for the same period in fiscal 1997. On a comparable store sales basis (stores open for at least 13 months), sales increased 6 percent for the four weeks ended February 22, 1998 as compared to the same four-week period in fiscal 1997.
For the 21 weeks ended February 22, 1998, consolidated net revenues were $488.5 million, an increase of 33 percent from consolidated net revenues of $367.6 million for the same period in fiscal 1997. Comparable store sales increased 5 percent for the 21-week period ended February 22, 1998, as compared to the same 21-week period in fiscal 1997.
During the 21 weeks ended February 22, 1998, 180 new Starbucks retail stores opened. The Company opened 150 retail stores and ended the period with 1,419. Licensees opened 16 stores in continental 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. bringing the total number of licensed stores in continental North America to 108. Additionally, licensees (including those in which the Company is a joint venture partner) opened 14 retail stores in 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. , including the first two Starbucks stores in the Philippines. There are now 31 Starbucks retail stores in the Pacific Rim. The Company and its licensees plan to open at least 350 new stores in continental North America and at least 40 new stores in the Pacific Rim during fiscal 1998.
Starbucks Coffee Company is the leading retailer, roaster roaster
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