Starbucks Earnings Jump 28 Percent In Third Quarter 2013

July 30, 2013

Starbucks Corp. reported financial results for its 13-week fiscal third quarter and 39-week fiscal year to date ended June 30, 2013. Total net revenues increased 13 percent to $3.7 billion. Global comparable store sales grew 8 percent driven by 7 percent growth in traffic; all regions accelerated over the second quarter. America’s comparable growth was 9 percent. The consolidated operating income increased 25 percent to $615.2 million. Consolidated operating margin expanded 150 basis points to 16.4 percent. Earnings per share (EPS) for the company increased 28 percent to $0.55 per share.

“Starbucks Q3 results represent the best across-the-board third-quarter performance in our 42-year history,” said Howard Schultz, chairman, president and CEO, in a prepared statement. "Our more than 19,000 store global footprint, our fast-growing CPG [consumer packaged goods] presence and our best-in-class digital, card, loyalty and mobile capabilities are creating a 'flywheel' effect elevating the relevancy of all things Starbucks and driving profitability.”

“Our powerful Q3 results reflect the outstanding success of our growth platforms both in the U.S. and globally, with all regions delivering an acceleration in comparable store sales and operating margin versus Q2,” said Troy Alstead, chief financial officer. “Our ability to grow income at a pace that exceeds revenue growth clearly demonstrates the strategic synergies we generate across our global footprint, which combined with the diversity of our portfolio, enables consistent delivery of excellent results. Looking forward to FY14 and beyond, I am as confident as ever in our ability to continue to deliver strong revenue and earnings growth.”


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