Starbucks’ 4Q earnings up nearly 30%
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The company said total net revenue for the year was a record $11.7 billion, up 9 percent from the 53-week 2010 fiscal year. Same-store sales increased 8 percent on a 52-week basis, driven by a 6-percent hike in traffic and 2-percent increase in average ticket.
“Fiscal 2011 was an extraordinary year in which Starbucks reported record earnings every quarter, and for the full year, and very strong comp-store sales growth all around the world,” said Howard Schultz, Starbucks chairman, president and chief executive. “Starbucks today is executing in all markets and across all channels, and we have never been better positioned to go hard and go fast after the tremendous opportunity that lies ahead in 2012 and beyond.”
Updating plans for 2012, the company said it will continue to accelerate growth with the opening of about 800 new units around the world, about 400 of which will be in the Americas. About half of those will be licensed.
Some 100 new locations are planned for Europe, the Middle East, Russia and Africa, and 300 new stores are planned for Asia, about half of which will be in China.
Starbucks is aiming for mid-single-digit same-store sales growth next year.
The company projects earnings per share in the $1.75 to $1.82 range for fiscal 2012.
Commodity costs, however, will continue to pressure margins, and affect earnings next year by about 21 cents per share. Of that, about 18 cents per share will occur in the first half of 2012.
Seattle-based Starbucks Corp. ended the year with 17,003 locations, including 10,787 in the United States and 6,216 internationally.