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Specialty coffee seller

Starbucks

(SBUX) - Get Starbucks Corporation Report

reported a 30% increase in fiscal second-quarter earnings Thursday, meeting Wall Street expectations as the company's sales rose from an ever-growing number of stores.

The Seattle-based chain said it earned $23.4 million, or 12 cents a diluted share, vs. $18.0 million, or 10 cents a share, a year earlier. That met the consensus of analysts' expectations, according to

First Call/Thomson Financial

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Revenue increased 34% to $505 million from $376 million a year ago. Retail revenue accounted for $429 million while revenue related to supply agreements and licensing accounted for $76 million. Comparable store sales, or sales at stores open at least a year, increased 10% compared with the year earlier quarter.

Starbucks also accelerated plans to open new stores in fiscal 2000. Outside of the U.S., the company increased its target for international store openings to 150 from its previous projection of 100, and domestically, it upped its target to 200 from 100. Added to its existing plans to open 350 company-owned stores in North America and 50 in the U.K., the company plans to open 750 stores in fiscal 2000.

Shares of Starbucks fell in after-hours trading following the earnings report, which was released after the stock market had closed. The stock recently traded at 34 7/8, down 6% from its close of 37 1/16, according to

Island ECN

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