Starbucks Corp. reported financial results for its 13-week fiscal fourth quarter and 52-week fiscal year ended Sept. 29, 2013.
Fourth quarter highlights include a total net revenue increase of 13 percent to $3.8 billion. In addition, global comparable store sales grew 7 percent driven by a 5 percent increase in traffic with 8 percent comp growth in the Americas and the U.S. Consolidated operating income increased 29 percent to $669 million. Consolidated operating margin expanded 220 basis points to 17.6 percent. Earnings per share increased 37 percent to $0.63 per share, including a $0.03 non-routine gain on the sale of Starbucks equity in Chile and Argentina joint ventures.
Fiscal year 2013 highlights include total net revenues increased 12 percent to $14.9 billion. Global comparable store sales grew 7 percent, driven by a 5 percent increase in traffic with 7 percent comp growth in the Americas, driven by 8 percent comp growth in the U.S. Consolidated operating income increased 23 percent to $2.5 billion. Consolidated operating margin expanded 150 basis points to a record 16.5 percent. Earnings per share increased 26 percent to $2.26 per share, including non-routine gains of $0.03 in second quarter and $0.03 in fourth quarter on the sale of Starbucks equity in Mexico, Chile and Argentina joint ventures.
“The fourth quarter of fiscal 2013 capped off by far the best year in Starbucks 42-year-history,” said Howard Schultz, chairman, president and chief executive officer of Starbucks Coffee Co., in a prepared statement. “Our results were driven by disciplined, ongoing efforts to elevate the value and relevance of the Starbucks brand, continued innovation and the success of our efforts to deepen our connection to customers and communities around the world.”
Net revenues for the Americas segment were $2.8 billion in fourth quarter fiscal year 2013, an increase of 11 percent over fourth quarter fiscal year 2012. The increase was primarily due to an 8 percent increase in comparable store sales. Also contributing to the net revenue increase was incremental revenue from 680 net new store openings over the past 12 months.