brewed up another month of strong sales in May, the company reported after the market close Wednesday.
Overall sales at the coffee chain in the four weeks ended May 23 were $404 million, up 27% vs. the same period last year, the company said. On a same-store basis, which compares like results at outlets open at least 13 months, the company's sales grew 11%.
For eight straight months, Starbucks overall sales have exceeded 25%, according to a company representative. Its same-store sales have topped 10% for seven straight months. In the year to date, Starbucks has posted $3.3 billion in total sales, up 29% from the same period last year. Same-store sales in the year to date are up 11%.
The company has warned investors that those rates are unsustainable. Over the long term, the company expects its total sales to grow by 20% and its same-store sales to grow by 3% to 7%.
Following Starbucks' report, the company's shares rose 31 cents, or 0.8%, to $39.98 in recent after-hours trading. The stock closed regular trading up 9 cents, or 0.2%, to $39.67.
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