Starbucks - Kari E. McLean
BLM&P Research
Starbucks
BLM&P Research
BLMP Research
? Lourdes Becerra ? Brian Litke ? Kari McLean ? Rebecca Prindable
BLM&P Research
Decline in Sales
BLM&P Research
Second Quarter 2009 Fiscal Highlights
Apr. 29, 2009-- Starbucks Corporation (NASDAQ: SBUX) today reported financial results for its second quarter ended March 29, 2009.
Net revenues of $2.3 billion, a decrease of 7.6 percent
? Comparable store sales of negative eight percent; compared to negative nine percent in Q1 2009
? Cost reduction of approximately $120 million versus target of $100 million
? EPS of $0.03; Non-GAAP EPS (excluding restructuring) of $0.16
BLM&P Research
Starbucks Problem
? Decrease in:
? profit margin ? drop in sales
BLM&P Research
Historical Financials & Employees
Income Statement
Year Sep 2008
Revenue ($ mil.)
10,383.0
Net Income ($ mil.)
315.5
Net Profit Margin
3.0%
Employees 176,000
Sep 2007
9,411.5
672.6
7.1%
172,000
Sep 2006
7,786.9
581.5
7.5%
145,800
Sep 2005
6,369.3
494.5
7.8%
115,000
Sep 2004
5,294.2
391.8
7.4%
96,700
Sep 2003
4,075.5
268.3
6.6%
74,000
Sep 2002
3,288.9
215.1
6.5%
62,000
Sep 2001
2,649.0
181.2
6.8%
54,000
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