US coffee shop giant Starbucks has reported a 23% increase in net revenues for January and said comparable store sales rose 7%.
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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.
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By GlobalDataAs 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.
