Starbucks' CEO Discusses F3Q12 Results - Earnings Call Transcript

Starbucks Corporation (SBUX)

F3Q12 Earnings Call

July 26, 2012 5:00 pm ET

Executives

JoAnn DeGrande – Investor Relations

Howard D. Schultz – Founder, President Chairman and Chief Executive Officer

Troy Alstead – Chief Financial Officer, Principal Accounting Officer and Chief Administrative Officer

John Culver – President, Starbucks Coffee China and Asia Pacific

Cliff Burrows – President

Analysts

Joseph Buckley – Bank of America Merrill Lynch

Sharon Zackfia – William Blair & Company, LLC

Michael Kelter – Goldman Sachs

David Palmer – UBS

John Ivankoe – JPMorgan

Keith Siegner – Credit Suisse Securities

Sara Senatore – Sanford C. Bernstein & Co. LLC

Jeffrey Bernstein – Barclays Capital

John S. Glass – Morgan Stanley & Co. LLC

Will Slabaugh – Stephens, Inc.

Jason West – Deutsche Bank Securities

Matthew Difrisco – Lazard Capital Markets

Presentation

Operator

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Good afternoon. My name is Lucania, and I will be your conference operator today. At this time, I would like to welcome everyone to the Starbucks Coffee Company's Third Quarter Fiscal Year 2012 Earnings Conference Call. All lines have been placed on mute to prevent any background noise. After the speakers’ remarks, there will be a question-and-answer session. (Operator Instructions)

I will now hand the floor to JoAnn DeGrande, Director of Investor Relations. Thank you. Ms. DeGrande, you may begin the conference.

JoAnn DeGrande

Thanks, Lucania. Good afternoon. Joining me on the call today is Howard Schultz, Chairman, President and CEO; Troy Alstead, CFO; and John Culver, President of our China and Asia Pacific business. This conference call will include forward-looking statements, which are subject to various risks and uncertainties that could cause our actual results to differ materially from these statements. Any such statements should be considered in conjunction with cautionary statements in our earnings release and risk factor discussions in our filings with the SEC, including our last annual report on Form 10-K.

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