Starbucks Reports Q1 Inline With Expectations
Starbucks Corporation (NASDAQ: SBUX) reported financial results Thursday for fiscal first quarter ended December 28, 2014.
Consolidated net revenues increased 13 percent to $4.8 billion, inline with analyst estimates.
Non-GAAP EPS of $0.80 per share was inline with estimates and grew 16 percent over Q1 FY14 non-GAAP EPS.
Compared with the prior year period, global comparable store sales increased 5 percent, with a 2 percent increase in traffic, Americas comp sales increased 5 percent, with a 2 percent increase in traffic, EMEA comp sales increased 4 percent, driven by a 3 percent increase in traffic and CAP comp sales increased 8 percent, driven entirely by increased traffic.
“Starbucks results in the first quarter of fiscal 2015 were very strong, with notable growth across the globe,” said Scott Maw, Starbucks CFO. “All segments contributed to our record results in the quarter, with improved traffic growth in the US, record profitability in EMEA and 8 percent 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.”
FY15 non-GAAP EPS is now expected to be in the range of $3.09 to $3.13; analysts had expected $3.13. Q2 non-GAAP EPS is expected to be in the range of $0.64 to $0.65, below estimates of $0.68.
Starbucks recently traded at $85.90, up 3.8 percent.
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