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Starbucks' March Same-Store Sales Rose 5%

Starbucks (SBUX) 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.

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