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Wednesday, October 04, 2006

Starbucks Sales & Stock Up

Well, Starbucks (SBUX) is up big and on active volume in after-hours trading. The stock closed up 5.7% on over 16 million shares, and are now trading up 3.8% more to $37.36 in after-hours trading.

For those who try to make a career or hobby out of slamming Cramer, he is the proud one tonight after making 3 big positive calls on the stock in the last couple of weeks. In Starbucks' 5-week period for September it posted net sales of $790 million, and posted same-store-sales growth of 6%. Same store sales estimates were around 4%.

For the 52-weeks ended October 1, 2006, net revenues were $7.8 billion, up 22% from consolidated net revenues of $6.4 billion for the same period in 2005. This gives it an implied $2.0.1+ Billion in revenues for the quarter, and the street estimate is $2.01 Billion.

"Looking back at the recently completed fiscal year with the opening of over 2,000 net new stores for the first time and posting strong net revenue growth of 22 percent, we remain very excited about the significant growth opportunities ahead for our U.S. and International businesses," commented Jim Donald, Starbucks president and chief executive officer. "We look forward to outlining the core strategies and new initiatives that we believe will continue to deliver long-term shareholder value when we host our sixth biennial Analyst Conference on Thursday, October 5."
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