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Last Update: 04-Nov-11 10:55 ET
Starbucks Tops Fourth Quarter Expectations
Starbucks (SBUX $44.00 +2.60) reported fourth quarter earnings of $0.37 per share, excluding non-recurring items, $0.01 better than the Capital IQ Consensus Estimate of $0.36.
Revenues rose 6.8% year/year to $3.03 billion versus the $2.95 billion consensus.
Global comparable store sales increased 9% on a comparative 13-week basis, driven by a 6% increase in traffic and a 3% increase in average ticket; Consolidated operating margin reached 14.8%, up 70 basis points over the prior-year period's GAAP results.
For its fiscal year 2012, the company expects to see earnings in the range of $1.75 to $1.82 versus $1.82 Capital IQ Consensus Estimate; sees rev +10% to ~$12.87 billion versus the $12.82 bilion Capital IQ Consensus Estimate; with mid single digit comp growth and 800 new stores; EPS growth is expected to be 5% in 1H12, and ~25% in 2H12.
Revenues rose 6.8% year/year to $3.03 billion versus the $2.95 billion consensus.
Global comparable store sales increased 9% on a comparative 13-week basis, driven by a 6% increase in traffic and a 3% increase in average ticket; Consolidated operating margin reached 14.8%, up 70 basis points over the prior-year period's GAAP results.
For its fiscal year 2012, the company expects to see earnings in the range of $1.75 to $1.82 versus $1.82 Capital IQ Consensus Estimate; sees rev +10% to ~$12.87 billion versus the $12.82 bilion Capital IQ Consensus Estimate; with mid single digit comp growth and 800 new stores; EPS growth is expected to be 5% in 1H12, and ~25% in 2H12.
