Coffee group Starbucks Corporation today reported that it had had a strong run up to Christmas, with consolidated net revenues of US$649m for the five-week period ended January 2, 2005, an increase of 22% on the same period last year.

On a comparable store sales basis (stores open for at least 13 months), sales at company-operated stores increased 8% for the five weeks ended January 2, 2005, as compared to the same five-week period in fiscal 2004.

"Starbucks strong December results reflect one of the best holiday promotions that we have seen at Starbucks in many years, delivering comparable store sales above the high end of our longer-term three to seven% target range," stated Howard Schultz, chairman. "From our seasonal beverage and food products, to gift offerings including music and the Starbucks Card, our holiday line-up was very well received by our customers."

For the 13 weeks ended January 2, 2005, consolidated net revenues were US$1.6bn, an increase of 24% from consolidated net revenues of US$1.3bn for the same 13-week period in fiscal 2004. Comparable store sales increased 10% for the 13 weeks ended January 2, 2005, as compared to the same 13-week period in fiscal 2004.