Starbucks Corp. yesterday [Thursday] reported consolidated net revenues of US$238m for the four-week period ended 24 February 2002, an increase of 23% from consolidated net revenues of US$193m for the same period in fiscal 2001.
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On a comparable store sales basis (stores open for at least 13 months), sales at company-operated stores increased 6% for the four weeks ended 24 February 2002 as compared to the same four-week period in fiscal 2001.
For the 21 weeks ended 24 February 2002, consolidated net revenues were $US1.3bn, an increase of 22% from consolidated net revenues of US$1.0bn for the same period in fiscal 2001. Comparable store sales increased 3% for the 21 weeks ended 24 February 2002, as compared to the same 21-week period in fiscal 2001.
“In February we continued to see many Starbucks Card redemption transactions as a result of gift-giving over the December Holidays, as well as new card activations for business gifts and personal use,” commented Orin Smith, Starbucks president and chief executive officer. “We look forward to building on this platform through new card designs and programmes intended to drive non-holiday activations and redemptions.”
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