Starbucks has posted a healthy rise in revenues for last month. The coffee company said yesterday (1 June) that consolidated net revenues for the four-week period to 29 May increased by 23% on the corresponding period last year, hitting US$496m.

On a comparable store sales basis (of stores open for at least 13 months), sales increased by 7% for the period.

"Starbucks core espresso beverages, as well as the continued expansion of our lunch program, were key contributors to our May results, delivering an increase in comparable store sales at the high-end of our 3% to 7% target range," said Jim Donald, president and CEO.

For the 34 weeks to 29 May, consolidated net revenues were US$4.1bn, an increase of 23% from consolidated net revenues of US$3.3bn for the same 34-week period in fiscal 2004. Comparable store sales were up by 9% for the 34 weeks as compared to the same 34-week period in fiscal 2004.