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Starbucks Coffee (SBUX) Reports In-Line Q1 EPS; Updates Q2, FY15 EPS Outlook

January 22, 2015 4:03 PM

(Updated - January 22, 2015 4:05 PM EST)

Starbucks Coffee (NASDAQ: SBUX) reported Q1 EPS of $0.80, in-line with the analyst estimate of $0.80. Revenue for the quarter came in at $4.8 billion versus the consensus estimate of $4.8 billion.

Global comparable store sales increased 5%, with a 2% increase in traffic

Comparable store customer transactions increased by nearly 9 million in the U.S., nearly 12 million globally, year-over-year
The company opened 512 net new stores in Q1, including its first Starbucks Reserve® Roastery and Tasting Room
Dollars loaded on Starbucks Cards surged to a record $1.6 billion in the quarter, up 17% over prior year Q1
1 in 7 Americans received a Starbucks Gift Card in Q1, up from 1 in 8 in Q1 of fiscal 2014
The company added 896,000 new My Starbucks Rewards members in December and now has over 9 million members

“Starbucks record Q1 fiscal 2015 financial and operating performance was exceptional by every metric and standard,” said Howard Schultz, chairman, president and ceo. “Our reimagined in-store holiday experience that included a vastly expanded assortment of Starbucks Cards, new holiday food, beverage and merchandise offerings and the opportunity to win ‘Starbucks for Life’ resonated powerfully with our customers and drove both increased traffic and tremendous excitement in our stores and around the Starbucks brand,” Schultz added.

“Starbucks results in the first quarter of fiscal 2015 were very strong, with notable growth across the globe,” said Scott Maw, Starbucks cfo. “All segments contributed to our record results in the quarter, with improved traffic growth in the US, record profitability in EMEA and 8% comps in CAP. Our continued ability to drive growth through innovation, operational excellence and our unique customer connection, along with our sharp focus on financial discipline, give us confidence in reaffirming our growth targets for fiscal 2015.”

The Company Updates the Following Targets:

*** The Street sees Q2 EPS of $0.68 and FY15 EPS of $3.13.

For earnings history and earnings-related data on Starbucks Coffee (SBUX) click here.

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