Starbucks has reported record financial results for its 13-week first quarter ended 28 December 2014 Q1, with the Highlights below demonstrating just what a behemoth Starbucks has become. Clearly, this is not a problem for the ever-increasing numbers of customers attracted to the products and services provided by Starbucks worldwide – for them, it is certainly not a faceless organisation, but one to which they strongly relate, and in whose Starbucks cards they now invest billions.
Exceptional by every metric and standard
Howard Schultz, chairman, president and ceo commented:
“Starbucks record Q1 fiscal 2015 financial and operating performance was exceptional by every metric and standard. Our re-imagined in-store holiday experience that included a vastly expanded assortment of Starbucks Cards, new holiday food, beverage and merchandise offerings and the opportunity to win ‘Starbucks for Life’ resonated powerfully with our customers and drove both increased traffic and tremendous excitement in our stores and around the Starbucks brand.”
Scott Maw, Starbucks cfo added:
“Starbucks results in the first quarter of fiscal 2015 were very strong, with notable growth across the globe. All segments contributed to our record results in the quarter, with improved traffic growth in the US, record profitability in EMEA and 8% comps in CAP. Our continued ability to drive growth through innovation, operational excellence and our unique customer connection, along with our sharp focus on financial discipline, give us confidence in reaffirming our growth targets for fiscal 2015.”
Highlights
- Consolidated net revenues increased 13% to $4.8 billion
- Global comparable store sales increased 5%, with a 2% increase in traffic
- Americas comp sales increased 5%, with a 2% increase in traffic
- EMEA comp sales increased 4%, driven by a 3% increase in traffic
- CAP comp sales increased 8%, driven entirely by increased traffic
- Consolidated operating income reached a record $915.5 million
- Consolidated operating margin of 19.1%
- GAAP earnings per share of $1.30
- Comparable store customer transactions increased by nearly 9 million in the U.S., nearly 12 million globally, year-over-year
- The company opened 512 net new stores in Q1, including its first Starbucks Reserve Roastery and Tasting Room
- Dollars loaded on Starbucks Cards surged to a record $1.6 billion in the quarter, up 17% over prior year Q1
- 1 in 7 Americans received a Starbucks Gift Card in Q1, up from 1 in 8 in Q1 of fiscal 2014
- The company added 896,000 new My Starbucks Rewards members in December and now has over 9 million members