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Starbucks Reports 21 Percent Revenue Growth in August; Comparable Store Sales Increase Five Percent

Posted on: Thursday, 31 August 2006, 18:00 CDT

Starbucks Corporation (NASDAQ:SBUX) today reported consolidated net revenues of $617 million for the four-week period ended August 27, 2006, an increase of 21 percent from consolidated net revenues of $507 million for the same four-week period in fiscal 2005. On a comparable store sales basis (stores open for at least 13 months), sales at Company-operated stores increased five percent for the four weeks ended August 27, 2006, as compared to the same four-week period in fiscal 2005.

"In August, we continued to deliver strong revenue and comparable store sales growth in line with our growth targets," stated Jim Donald, Starbucks president and chief executive officer. "The increase in comparable store sales was driven by the popularity of our handcrafted beverages as well as a strong contribution from food in both additional lunch locations and enhanced offerings."

For the 47 weeks ended August 27, 2006, consolidated net revenues were $7.0 billion, an increase of 22 percent from consolidated net revenues of $5.7 billion for the same 47-week period in fiscal 2005. Comparable store sales increased seven percent for the 47 weeks ended August 27, 2006, as compared to the same 47-week period in fiscal 2005. Net stores opened during the 47 weeks ended Stores open as of August 27, 2006 August 27, 2006 ----------------------- ----------------- United States: Company-operated Stores 647 5,514 Licensed Stores 675 3,110 ----------------------- ----------------- 1,322 8,624 International: Company-operated Stores 197 1,392 Licensed Stores 382 2,126 ----------------------- ----------------- 579 3,518 Total 1,901 12,142 ======================= =================

Through the dedication of our passionate partners (employees), Starbucks Coffee Company has transformed the way people in 37 countries enjoy their coffee, one cup at a time. Starbucks is the premier purveyor of the finest coffee in the world, with over 12,000 retail locations in North America, Latin America, Europe, the Middle East and the Pacific Rim. The Company is committed to offering its customers the highest quality coffee and human connection through the Starbucks Experience, while striving to improve the social, environmental and economic well being of its partners, coffee farmers, countries of coffee origin, and the communities which it serves. Through Ethos Water, Starbucks demonstrates its long history of integrating a social conscience into all aspects of its business. The Company surprises and delights its customers by producing and selling bottled Starbucks Frappuccino(R) coffee drinks, Starbucks DoubleShot(R) espresso drinks and Starbucks(R) superpremium ice creams through its joint-venture partnerships, and Starbucks(TM) Coffee and Cream Liqueurs through a marketing and distribution agreement, in other convenient locations outside its retail operations. The Company's brand portfolio includes superpremium Tazo(R) teas, Starbucks Hear Music(TM) compact discs, Seattle's Best Coffee and Torrefazione Italia. These brands' unique and innovative personalities allow Starbucks to appeal to a broad consumer base.

Source: Business Wire

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