The 2,400 new stores that Starbucks plans to open this year will include about 1,700 in the US, with 1,000 of them to be company-operated and 700 planned as licensed locations. The international tally of 700 stores will include 300 company-operated and 400 licensed locations.
Starbucks executives outlined growth plans and discussed the record results in a conference call with financial analysts Thursday. The company reported that quarterly earnings rose 18% to $151 million and 19 cents per share, compared with $127 million and 16 cents per share for the comparable quarter a year ago. Sales climbed 20% to $2.3 billion as the company opened 560 new retail outlets during the quarter, and same store sales grew 4%. The company attributed the increase in comparable store sales to a 3% increase in the average value per transaction and a 1% increase in the number of customer transactions.
Jim Donald, Starbucks president and CEO, noted that the company's international sales played a significant role during the quarter, with that segment's revenue increasing by 30%. He cited the company's previously described goal "to build a solid global foundation" because Starbucks, which is now in 39 countries, sees big potential in overseas markets.
Donald commented that the comparable store sales gains and other financial results were especially noteworthy "in light of the fact that we were up against a very strong quarter last year." Along with its growing store count, Starbucks is targeting total net revenue growth of approximately 20% for the full year and comparable store sales growth of about 3% to 7%. At the end of the second quarter, the Starbucks store count stood at 13,728 locations, up from 11,225 at the end of the second quarter last year.
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