Starbucks Reports Improved Earnings

Fri., April 24, 1998

From Staff

Starbucks Corp. reported gains of 42 percent in earnings per share on a 35 percent increase in revenue during the second quarter.

In the three months ending March 29, profits were $15.1 million on consolidated net revenue was $289.6 million, compared with net earnings of $9.6 million on $214.9 million in revenue in the same period a year ago.

Diluted earnings per share rose to 17 cents from 12 cents in the same period in 1997.

Comparable store sales by the expanding specialty coffee retailer registered a 34 percent increase during the quarter and 232 new Starbucks retail outlets were opened, 193 by the company and 39 by licensees.

Among the new licensed outlets are the first three Starbucks in the Philippines and the first in Taiwan.

Plans call for 390 new Starbucks outlets during the fiscal year.

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Starbucks Reports Improved Earnings

Jesse Tinsley

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