>Starbucks Posts Strong Third Quarter Fiscal 2009 Results

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SEATTLE–(BUSINESS WIRE)–Jul. 21, 2009– Starbucks Corporation (NASDAQ: SBUX) today reported financial results for its third quarter ended June 28, 2009, provided its FY09 EPS target and introduced FY10 targets. Fiscal Third Quarter 2009 Highlights include:

  • EPS of $0.20 compared to $(0.01) in Q308
  • Non-GAAP EPS of $0.24 compared to $0.16 in Q308, a 50% year-over-year increase
  • Operating margin of 8.5% vs. negative 0.8% in Q308; Non-GAAP operating margin of 10.6% vs. 6.9% in Q308
  • U.S. operating margin of 11.2% vs. negative 1.4% in Q308; Non-GAAP U.S. operating margin of 13.4% vs. 8.8% in Q308
  • Net revenues of $2.4 billion, compared to $2.6 billion in Q308
  • Cost savings of approximately $175 million, exceeding Q3 target of $150 million
  • Comparable store sales decline of 5%, a sequential improvement from a decline of 8% in Q209

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http://investor.starbucks.com/phoenix.zhtml?c=99518&p=irol-newsArticle&ID=1309655&highlight=

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