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Starbucks Corporation today (2 December) reported consolidated net revenues of US$486m for the four-week period to 28 November, an increase of 26% from consolidated net revenues of US$387m for the same period in fiscal 2004.

On a comparable store sales basis (stores open for at least 13 months), sales at company-operated stores increased by 13% for the four-week period, as compared to the same four-week period in fiscal 2004.

"The early launch of Starbucks holiday promotion, highlighted by this year's Christmas Blend, along with the continued popularity of Pumpkin Spice Latte and growth in our music business, all contributed to Starbucks outstanding November sales results," said Howard Schultz, chairman.

"I am very proud of our partners throughout the company for launching Starbucks holiday season with such great success.

"It is important to note, as we have said in the past, that comparable store sales growth of the extraordinary level achieved in November is not sustainable," Schultz added. "We continue to believe that 20% net revenue growth and approximately 3% to 7% comparable store sales growth is the right level for longer-term expectations."

For the eight weeks to 28 November, consolidated net revenues were US$940m, an increase of 25% from consolidated net revenues of US$750m for the eight weeks ended in fiscal 2004. Comparable store sales increased by 12% for the eight weeks to 28 November, as compared to the same eight weeks in fiscal 2004.


Sectors: Soft drinks

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