Just over half of the openings in the US will be company-owned, and the rest will be licensed units. Abroad, the company will open 100 stores and license 325. Besides the US, Starbucks has stores in Europe, Latin America, the Middle East and the Pacific Rim.
For its fiscal Q1, which ended Jan. 2, Starbucks posted a same-store sales jump of 10% at company-owned units. Revenues shot up 26%, to $1.4 billion, during the quarter, while operating income rose 30%, to $227 million.
Executives say their Christmas Blend coffee and holiday gifts help spark the company's strong performance. "This exciting line-up resulted in our strongest holiday ever," says Jim Donald, the company's CEO designee.
For the remainder of the year, Starbucks is targeting same-store sales increases at the high end of its long-term 3% to 7% plan. The company expects revenues to jump 20% and an earnings-per-share boost of $1.15 to $1.17.
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