Company Information
Retailer, roaster and brand of specialty coffee operating in North America, Latin America, Europe, the Middle East and the Pacific Rim. The Company also produces and sells bottledFrappuccino(R) drinks, DoubleShot(TM) drinks and a line of ice creams.
9% Rise in Profit for Starbucks
By THE ASSOCIATED PRESS
Published: August 2, 2007
SEATTLE, Aug. 1 (AP) — The Starbucks Corporation, the world’s largest specialty coffee retailer, said Wednesday that quarterly profit climbed 9 percent as the company opened 668 stores, and it announced plans to continue expanding at an equally blistering pace next year.
Earnings for the three months that ended July 1, the company’s third fiscal quarter, rose to $158.3 million, or 21 cents a share, from $145.5 million, or 18 cents a share, during the same period last year.
Results matched Wall Street’s expectations, according to analysts polled by Thomson Financial.
Revenue jumped 20 percent to $2.36 billion, from $1.96 billion in the year-ago quarter, falling just short of analysts’ estimated $2.39 billion.
Sales at Starbucks’ 14,396 locations around the world jumped 21 percent to $2.01 billion, from $1.66 billion last year.
Starbucks announced plans to open 2,600 stores in the 2008 fiscal year, an increase of 200 from this year’s target.
Shares of Starbucks gained 52 cents to close at $27.20.
Retailer, roaster and brand of specialty coffee operating in North America, Latin America, Europe, the Middle East and the Pacific Rim. The Company also produces and sells bottledFrappuccino(R) drinks, DoubleShot(TM) drinks and a line of ice creams.
9% Rise in Profit for Starbucks
By THE ASSOCIATED PRESS
Published: August 2, 2007
SEATTLE, Aug. 1 (AP) — The Starbucks Corporation, the world’s largest specialty coffee retailer, said Wednesday that quarterly profit climbed 9 percent as the company opened 668 stores, and it announced plans to continue expanding at an equally blistering pace next year.
Earnings for the three months that ended July 1, the company’s third fiscal quarter, rose to $158.3 million, or 21 cents a share, from $145.5 million, or 18 cents a share, during the same period last year.
Results matched Wall Street’s expectations, according to analysts polled by Thomson Financial.
Revenue jumped 20 percent to $2.36 billion, from $1.96 billion in the year-ago quarter, falling just short of analysts’ estimated $2.39 billion.
Sales at Starbucks’ 14,396 locations around the world jumped 21 percent to $2.01 billion, from $1.66 billion last year.
Starbucks announced plans to open 2,600 stores in the 2008 fiscal year, an increase of 200 from this year’s target.
Shares of Starbucks gained 52 cents to close at $27.20.
1 comment:
This amount of activity won't get you much credit toward your blog average at the end of the semester.
-prof. evans
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