USA: Innovation helps drive Starbucks' sales
US coffee shop giant Starbucks has reported a 23% increase in net revenues for January and said comparable store sales rose 7%.
The company posted consolidated net revenues of US$452m for the four-week period ended 30 January 2005, compared to $368m for the corresponding period of fiscal 2004.
On a comparable store sales basis (stores open for at least 13 months), sales at company-operated stores increased 7% for the four weeks.
"Starbucks' strong January results reflect continuous innovation combined with the efforts of our partners that are a hallmark of the company's ongoing success," said Jim Donald, CEO-designate.
"As we approach the opening of our 9,000th store, we continue to believe in the long-term opportunity to share the Starbucks Experience in at least 30,000 Starbucks stores worldwide," he added.
As of 30 January, the company had 8,994 stores in operations, of which 6,409 are in the US and 2,585 are in international markets.
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