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TheStreet Open House

Starbucks Reports Record First Quarter Fiscal 2013 Results

Starbucks Corporation (NASDAQ: SBUX) today reported financial results for its 13-week fiscal first quarter ended December 30, 2012.

Fiscal First Quarter 2013 Highlights:

  • Total net revenues increased 11% to a record $3.8 billion
  • Global comparable store sales grew 6%, driven by a 4% increase in traffic and a 2% increase in average ticket
    • Americas comparable store sales grew 7%, China/Asia Pacific comparable store sales grew 11%
  • Consolidated operating margin expanded 40 basis points to 16.6%
  • EPS increased 14% to a record $0.57 per share, compared to $0.50 per share in Q1 FY12
  • Opened 212 net new stores globally, including the first 3 stores in India
  • Sold more than 150,000 Verismo® machines since launch, marking a strong debut of this emerging platform
  • Added 1.4 million new My Starbucks Rewards members in the U.S., up 86% over the 778,000 new members added in the U.S. in Q1 FY12
  • Acquired Teavana Holdings, Inc. on December 31, making Teavana a wholly-owned subsidiary of Starbucks and positioning Starbucks to become the global leader in tea

“Starbucks strong performance in Q1 demonstrates the strength, and unique resilience, of our increasingly global business, and the power and growing relevance of the Starbucks brand to consumers and communities all around the world,” said Howard Schultz, chairman, president and chief executive officer, Starbucks Coffee Company. “Solid growth in our U.S. retail business, further expansion of our Channel Development initiatives and continued successful execution against our expansion plans throughout China and Asia Pacific all contributed to the record results we announced today. Starbucks has never been better positioned to achieve the goals we have set for ourselves around the world and I have never been more optimistic about our future.”

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