Starbucks (SBUX Quote) said Thursday its same store sales in March rose 5% over the same period last year.
The coffee retailer said total revenue for the five-week period ending April 1 was $252 million, up 23% from $205 million reported in the same period a year ago. For the six-month period ending April 1, revenue was up 25% and same-store sales were up 8%. President and CEO Orin Smith said in a statement the company was on track to reach its earnings-per-share target of 91 cents to 93 cents for this year, which is in line with the 92-cents-a-share consensus estimate of analysts who track the company, according to Thomson Financial/First Call. During the month, Starbucks opened its 4,000th store and its 500th store in the Asia-Pacific region. Shares of Starbucks finished unchanged at $40.94 in Thursday trading on the New York Stock Exchange.- Loading Comments...
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