12°c Light rain showers
8°c Light rain
Winnipeg Free Press - PRINT EDITION
Starbucks brews a strong forecast
Charles Krupa / The Associated Press Archives More customers are dropping in. (CP)
NEW YORK -- Starbucks Corp. on Thursday raised its forecast for the year after the coffee chain said more customers are going to its cafés, even in the challenging global economy.
The Seattle-based company said global revenue at cafés open at least a year rose six per cent in the fiscal fourth quarter, driven by higher customer traffic.
The measure is a key gauge, because it strips out the impact of newly opened and closed locations.
Starbucks lifted its guidance for the year ending in September 2013 to $2.06 to $2.15 per share.
That's up from its previous outlook of $2.04 to $2.14 per share. Analysts expect $2.14 for the year, according to FactSet.
The company also lifted its quarterly dividend 24 per cent, to 21 cents.
For the July-September period, Starbucks earned $359 million, or 46 cents per share, from $358.5 million, or 47 cents per share, a year ago.
The year-ago results benefited from a gain related to a real estate sale. Revenue rose 11 per cent to $3.36 billion.
Analysts expected profit of 45 cents per share on revenue of $3.39 billion.
Shares rose $2.82, or 6.1 per cent, to $49.44 in after-market trading. The stock had closed up 72 cents to $46.62 in regular trading.
-- The Associated Press
Republished from the Winnipeg Free Press print edition November 2, 2012 B8
More Business
- Back to Top
- Return to Business
More Business
(1 of 28 articles for today)
Oil rises as US stocks erase earlier losses, dollar drops
11:33 AM 0NEW YORK, N.Y. - The price of oil rose Monday, taking its cue from the stock market and the dollar.
Benchmark ...
Poll
Most Popular Business
- 2 men arrested in killing of Las Vegas teen who refused to give up his iPad
- Chinese court sentences entrepreneur to death in latest crackdown on underground banking
- Hundreds of tons of New Zealand meat stranded at Chinese ports over certification dispute
- United Airlines resumes 787 flights after 4-month halt, with flight from Houston to Chicago
- Consumer watchdog: most sunscreens meet FDA standards, but questionable SPF ratings persist
- Yahoo buys blogging forum Tumblr for $1.1 billion in boldest move yet under CEO Marissa Mayer
- Ex-'Pegger seeks to grow local businesses
- Target opens Manitoba stores
- Veteran newspaper editor Neil Reynolds dead at age 72
- Interview: Netflix CEO on future of TV, 'Arrested Development,' BlackBerry
- Transcona transformation
- Mounties say crooks passing fake polymer bank notes in British Columbia
- Holiday pump jump debated
- Driving downtown development
- 2 men arrested in killing of Las Vegas teen who refused to give up his iPad
- 3 Ford owners sue in federal court, saying EcoBoost engine is defective
- Emergency manager reveals Detroit is nearly broke; city may have no choice except bankruptcy
- McDonald's adding 3 new Quarter Pounders as it phases out third-pound Angus burgers
- Lakeview pumped about Hecla resort
- Microsoft update to address Windows 8 complaints, confusion will be free; to be called 8.1
- Target opens its first Manitoba stores Tuesday
- New structure to be king of downtown?
- Transcona transformation
- Target opens Manitoba stores
- Mounties say crooks passing fake polymer bank notes in British Columbia
- Raising the rent is a good sign
- City to get a touch of glass
- Canad Inns property has personal meaning for owner
- Holiday pump jump debated
- Border-fee idea doesn't fly
- More than a new boss
- Viterra plans $20 million capacity upgrade at four Saskatchewan grain terminals
- SNC-Lavalin says former executive's illegal actions justify firing
- There are lots of I's in 'team'
- Transcona transformation
- Buyer beware in online auto sales: experts
- Ex-'Pegger seeks to grow local businesses
- A fix for hockey sticks
- Investing lessons from the golf links
- Late deal in workplace sex-harassment case
- Transcona transformation
- Diversification spurs Exchange Income's growth
- Driving downtown development
- Late deal in workplace sex-harassment case
- Ex-'Pegger seeks to grow local businesses
- There are lots of I's in 'team'
- Bridging the gap
- Viterra plans $20 million capacity upgrade at four Saskatchewan grain terminals
- More than a new boss
- City to get a touch of glass
- Transcona transformation
- New structure to be king of downtown?
- CEO, execs terminated at TCIG
- Target opens its first Manitoba stores Tuesday
- Canad Inns property has personal meaning for owner
- Winnipeg's got the REIT stuff
- Older and jobless? Resource on hand
- Winnipeg Boeing plant set to expand
- Local boy leads Great-West
- MacDon on the block?
Ads by Google
You can comment on most stories on winnipegfreepress.com. You can also agree or disagree with other comments. All you need to do is register and/or login and you can join the conversation and give your feedback.
Have Your Say
New to commenting? Check out our Frequently Asked Questions.
The Winnipeg Free Press does not necessarily endorse any of the views posted. By submitting your comment, you agree to our Terms and Conditions. These terms were revised effective April 16, 2010.