Same-Store Sales Rise at Starbucks - TheStreet

Same-Store Sales Rise at Starbucks

The coffee seller also says total sales were up 27% for June.
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Starbucks

(SBUX) - Get Report

said same-store sales, covering those locations open for at least 13 months, rose 10% at company-owned shops in June.

Total revenue for the month reached $410 million, an increase of 27% from $323 million for the same period in fiscal 2002, the company said after the regular trading day ended Tuesday.

For the 39 weeks ended June 29, consolidated revenue totaled $3 billion, an increase of 24% from $2.4 billion a year ago. Comparable-store sales rose 8% for the 39 weeks, Starbucks said.

The coffee retailer also said it plans to release its financial results for the fiscal third quarter on July 24. Shares of Starbucks were up 37 cents, or 1.5%, to $25.70 on Instinet during extended trading.

Earlier in the day, a Smith Barney analyst offered an optimistic take on Starbucks, saying same-store sales trends were solid and that investors will probably look beyond tough comparisons this year and see value in the stock.