Starbucks takings slide


Starbucks takings slide
Global coffee chain Starbucks has announced a six per cent dip in profits in the three months to October 31st.

The Seattle-based group turned a profit of $117 million (£62 million) in the last quarter, compared to $124 million (£66 million) in the corresponding period in 2005.

In the full-year Starbucks said its revenue had risen 22 per cent to $7.8 billion (£4 billion), resulting in overall earnings of $564 million (£299 million), an increase of 14 per cent.

Jim Donald, the company's president and chief executive officer, said that Starbucks had delivered "strong operating results" for the financial year, which saw 2,199 stores opened worldwide.

"We demonstrated the strength of our business model as we opened a record number of new stores around the world, which contributed to strong top line growth, and we enhanced and expanded our product offerings through innovation and entry into new channels.

"We accomplished all of this through the hard work of our passionate partners who maintain a consistent focus on the needs of our customers," he added.

Mr Donald also emphasised that customer demand for Starbucks products "remains strong", with Egypt and Brazil two new markets earmarked for expansion in the coming three months.

Bookmark with:
Bookmark with: Digg Digg Bookmark with: Delicious Bookmark with: Reddit Reddit Bookmark with: StumbleUpon StumbleUpon Bookmark with: Google Google Bookmark with: Technorati Technorati Bookmark with: Netvouz Netvouz

Latest News:

Search News
News Front Page
Accountancy / Tax
Advertising / PR
Armed Forces
Aviation / Aerospace
Banking / Finance
Charities / Voluntary
Childcare / Youth
Construction / Property
Customer Services
Education / Training / Teaching
Emergency Services
Engineering / Electronics
Entertainment / TV / Theatre
Graduate Roles
HR / Recruitment
Health / Beauty
Hotel / Catering / Restaurants
IT / Internet
Insurance / Pensions
International / Overseas
Management / Business
Manufacturing / Industry
Media / New Media / Creative
Medical / Healthcare
Pharmaceutical Industry
Public Sector
Retail / Wholesale
Sales / Purchasing / Marketing
Science / Technology
Secretarial / PA / Admin
Skilled / Semi-skilled Manual
Transport / Logistics
Travel / Tourism / Leisure