Starbucks Dec. Sales Up 22%; Same-store Sales Up 7%

CHICAGO (Dow Jones) - Demand for both its everyday and holiday special beverages lifted Starbucks' (SBUX) December revenues by 22% while same-store sales came in at the high-end of the coffee chain's targeted range.

After the close of trading Thursday, Starbucks (SBUX)(SBUX)said its consolidated net revenues for the five weeks ended Jan. 1 were $791 million. Meanwhile, company- operated same-store sales rose 7% -- at the upper end of its goal of 3% to 7%.

The average estimate of analysts polled by Thomson First Call was for a same- store sales bump of 7.9%.
The December results reflect continued strong demand for espresso drinks along with customer "enthusiasm for our holiday beverage lineup," the company said in the sales report.

For the 13 weeks ended January 1, consolidated net revenues were $1.9 billion, also up 22%. The company opened a total of 560 new company owned and licensed stores in the U.S. and overseas for a running total of 10,801.

Shares of Starbucks (SBUX) slipped 6 cents to end the day at $31.61 before slipping about 1% in after-hours action.

Dow Jones Newswires
01-05-06 1705ET
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