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STARBUCKS REPORTS RECORD RESULTS FOR FISCAL YEAR 1993: NET EARNINGS RISE 107 PERCENT ON 76-PERCENT INCREASE IN NET SALES

 SEATTLE, Nov. 18 /PRNewswire/ -- Starbucks (NASDAQ: SBUX) today announced financial results for the fourth quarter (14 weeks) and fiscal year ended October 3, 1993, showing increases in net sales, net earnings, and earnings per share over the same period in fiscal 1992.
 For the fourth quarter ended October 3, 1993 (14 weeks), net sales increased 87 percent to $50,306,000 from $26,855,000 for the fourth quarter of fiscal 1992 (13 weeks). Retail sales increased 88 percent for the quarter to $44,142,000, specialty sales increased 80 percent to $4,671,000, and mail order sales increased 102 percent to $1,493,000. For the fourth quarter of fiscal 1993, retail sales increased as a result of strong comparable store sales growth coupled with the opening of new stores and an extra sales week. Comparable store net sales for the 143 stores open 13 months or longer at the end of the period grew by 15 percent for the 13 weeks ended September 26, 1993, as compared to the 13-week period ended September 27, 1992. New store sales accounted for 59 percent of the increase in retail sales while the extra week accounted for 14 percent. Earnings before taxes increased 120 percent to $3,831,000 from $1,740,000 for the fourth quarter of fiscal 1992. Net earnings of $2,232,000 for the fourth quarter of fiscal 1993, or eight cents per share, improved 111 percent from $1,056,000, or four cents per share, for the previous year's fourth quarter.
 For the 53 weeks ended October 3, 1993, net sales increased by 76 percent to $163,477,000 from $93,078,000 in 1992 (52 weeks). Retail sales increased 76 percent to $142,404,000 from $81,061,000 for 1992. Comparable store sales grew by 20 percent for the 52 weeks ended September 26, 1993, as compared to the 52-week period ended September 27, 1992. Specialty sales increased 60 percent to $14,781,000 and mail order sales increased 126 percent to $6,292,000. Earnings before taxes increased 112 percent to $13,919,000 from $6,580,000 in the prior year. Net earnings of $8,503,000 or 29 cents per share, improved 107 percent from the previous year's $4,104,000, or 16 cents per share. The weighted average number of shares outstanding increased from 24.9 million to 29.0 million, primarily as a result of the Company's initial public offering in July 1992.
 During the fourth fiscal quarter, Starbucks opened 27 new stores including two licensed airport stores. For the fiscal year ended October 3, 1993, Starbucks opened 100 stores including eight licensed airport stores (versus a budgeted plan of 75) bringing to 253 the total number of retail stores and licensed airport stores located in, and around the areas surrounding, Seattle, Washington; Chicago, Illinois; Vancouver, B.C., Canada; Portland, Oregon; Denver, Colorado; Los Angeles, San Diego and San Francisco, California; and Washington, D.C.
 Since the end of the fiscal year, Starbucks has opened 20 new stores bringing its total to 273. The Company plans to open at least 125 stores during fiscal year 1994 and enter three new markets -- New York, Boston, Minneapolis.
 In addition to its 273 retail stores, the Company has a national direct mail operation and a specialty sales group serving a wholesale club, a specialty department store chain, a national book store chain, a regional airline, fine restaurants and institutions.
 STARBUCKS CORP.
 (In thousands, except earnings per share)
 Fiscal Quarter Ended Fiscal Year Ended
 Oct. 3, Sept. 27, Oct. 3, Sept. 27,
 1993 1992 1993 1992
 (14 weeks) (13 weeks) (53 weeks) (52 weeks)
 Net sales $50,306 $26,855 $163,477 $93,078
 Earnings before
 taxes 3,831 1,740 13,919 6,580
 Net earnings 2,232 1,056 8,503 4,104
 Earnings per
 share(A) $ 0.08 $ 0.04(B) $ 0.29 $ 0.16(B)
 Weighted average
 shares
 outstanding(A) 29,092 28,498(B) 29,028 24,877(B)
 (A) Adjusted to reflect the Company's two-for-one stock split, effected in the form of a stock dividend, paid on September 29, 1993, to holders of record on August 30, 1993.
 (B) Reflects the conversion of preferred stock and warrants into common stock, which occurred at the completion of the Company's initial public offering in July, 1992.
 -0- 11/18/93
 /CONTACT: Cheri Libby, Investor Relations, of Starbucks, 206-447-7272/
 (SBUX)


CO: Starbucks Corp. ST: Washington IN: REA SU: ERN

JH -- SE001 -- 5898 11/18/93 09:30 EST
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Date:Nov 18, 1993
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