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.
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV