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Friday, November 5, 2010

Starbucks Corp. (SBUX) Earnings Blowout

Shares of Starbucks Corp. (SBUX) are set to open the day at $31, up 4%. Starbucks Corp. reported a blowout earnings report last night and continues to see growth on their VIA instant coffee product.

Starbucks Corporation (NASDAQ:SBUX) today reported financial results for its fiscal fourth quarter and fiscal year ended October 3, 2010, periods that included 14weeks and 53 weeks, respectively, as fiscal 2010 contained an extra week. The company also updated its FY11 targets.

Fiscal Fourth Quarter 2010 Highlights:

Total net revenues increased 17.2% to $2.8 billion; on a 13-week basis, total net revenues increased 8.6% to $2.6 billion

Comparable store sales increased 8%, driven by a 5% increase in traffic and a 2% increase in average ticket

U.S. comparable store sales increased 8%, driven by a 6% increase in traffic and a 2% increase in average ticket

International comparable store sales increased 7%, driven by a 4% increase in traffic and a 3% increase in average ticket

Consolidated operating margin improved 590 basis points to 14.1%; Non-GAAP operating margin increased 390 basis points to 14.3%

U.S. operating margin improved 800 basis points to 17.3%; U.S. Non-GAAP operating margin increased 530 basis points to 17.4%

Starbucks Corp will be a great stocks for the rest of 2010 and 2011.

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