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Starbucks reports record second quarter 2011 results
By Shaun Weston
28 April 2011
Categories
Beverage
Financial
Fiscal second quarter 2011 highlights
Total net revenues increased 10% to $2.8bn.
Comparable store sales increased 7%, driven by a 6% increase in traffic and a 1% increase in average ticket. US comparable store sales increased 7%, driven by a 6% increase in traffic and a 1% increase in average ticket. International comparable store sales increased 4%, driven by an increase in traffic.
Consolidated operating margin was 13.5%, up 10 basis points on a GAAP basis and down 20 basis points over the prior year period’s non-GAAP results. US operating margin improved to 18.5%, up 70 basis points on a GAAP basis and up 60 basis points over the prior-year period’s non-GAAP results. International operating margin improved to 11.8%, up 420 basis points on a GAAP basis and up 290 basis points over the prior-year period’s non-GAAP results.
EPS increased 21% to $0.34 in Q2 FY11 compared to $0.28 in Q2 FY10.
On 1 March, Starbucks assumed direct management of its packaged coffee business On 10 March, the company announced a strategic relationship with Green Mountain Coffee Roasters for the manufacturing, marketing, distribution and sale of Starbucks coffee and Tazo tea branded K-Cup portion packs for use in the Keurig Single-Cup Brewing system, making Starbucks the exclusive, licensed super-premium brand on the Keurig platform.
The board of directors declared a $0.13 per share cash dividend to shareholders of record as of 11 May 2011, which will be paid on 27 May 2011.
Source: Starbucks Corporation
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