10.2.2004: Meldung: Starbucks Rewards Shareholders with Record Breaking Numbers

The Company"s record-breaking numbers in fiscal 2004 have proved impressive for Starbucks and its shareholders with consolidated net revenues of $5.3 billion, an increase of 30 percent over last year"s revenues. Strong net earnings exceeded $390 million and Starbucks achieved its 13th consecutive year of comparable store sales growth of five percent or greater. The strong year was followed by a successful first quarter in fiscal year 2005, at which time the Company raised its full-year fiscal 2005 earnings per share target range to $1.15 - $1.17.

"Starbucks strives to create a brand that is authentic and resonates with people around the world," said Schultz. "We make every effort to find absolute congruence between our actions and our values. Success is not an entitlement, and each day we strive to earn the trust and confidence of the millions of customers who come to Starbucks each week."

Following Orin Smith"s retirement on March 31, a new phase for Starbucks begins as Jim Donald becomes ceo. Starting with fiscal 2005, Starbucks plans to open approximately 1,500 new stores globally and increase total revenues by approximately 20 percent.

Starbucks three-to-five year goals are to grow total revenues by approximately 20 percent per year, achieve comparable stores sales growth of three to seven percent with monthly anomalies, and increase earnings per share by approximately 20-25 percent per year. Starbucks long-term store target was recently raised from 25,000 to a minimum of 30,000 stores worldwide, with at least 15,000 locations outside the U.S.

"With continued growth comes the responsibility to foster a spirit of discovery and maintain a commitment to the culture, values and mission on which the company was built," said Smith. "This is why I know Jim is the ideal candidate to lead Starbucks and I feel confident I am leaving the company in good hands."

"I have enjoyed a wonderful two-year immersion with Orin," said Donald. "We believe we will continue to innovate, capture tremendous core retail store growth, expand our customer base and drive emerging business worldwide, all while creating enthusiastically satisfied customers."

International Update

Starbucks development is just beginning with locations in 34 countries outside of the U.S. In fiscal 2004, Starbucks opened a record 1,344 stores worldwide and now has more than 9,000 stores across the globe.

"We are still in the early pages of the first chapter of our international journey and we believe it is clear that we have the potential to contribute to the growth and profitability for Starbucks going forward," said Martin Coles, president, Starbucks Coffee International.


Demonstrating that in spite of the challenges of size and growth, Starbucks can retain its values and guiding principles, Starbucks was recognized by Fortune Magazine as number four on its list of "America"s Most Admired Companies 2004." As a sign of its staying power, Starbucks has moved to fourth place from 10 last year in the global ranking of Brandchannel"s Readers Choice Award 2004. Starbucks has remained in the top 10 global ranking since this brand survey started in 2001. Additionally, Starbucks received The World Environment Center Gold Medal Award for its outstanding leadership in sustainable development within the specialty coffee industry. For the seventh year, Starbucks was named to Fortune Magazine"s "100 Best Companies to Work For," placing 11th overall, its highest ranking.

Corporate Social Responsibility

Also today, Starbucks announced that its fourth Corporate Social Responsibility (CSR) Annual Report is now available on Starbucks.com. The report highlights company initiatives, programs and activities in fiscal year 2004 that demonstrate Starbucks commitment to delivering social, environmental and economic benefits to the communities in which we do business globally. The theme of this year"s CSR Annual Report, "Striking a Balance," underscores Starbucks approach to conducting business and integrating CSR throughout all we do. The report also illustrates Starbucks commitment to measure ongoing success by how well the Company balances fiscal responsibility with the goals of enhancing the lives of its stakeholders, including Starbucks partners, customers, coffee farmers, shareholders, community members, suppliers and others with whom we work. An electronic version of the report is available online at www.starbucks.com/csrannualreport. Printed copies will arrive in Starbucks retail stores in early April.

B-Roll available

Starbucks Corporation"s Annual Meeting b-roll footage will be available for download at IA-5, Transponder 05 (C-Band), Downlink Frequency: 3800MHz Vertical, Audio: 6.20/6.80 on Wednesday, February 9 from 9:30 - 9:45 p.m. EST and Thursday, February 10 from 11:00 - 11:15 a.m. EST.

About Starbucks

Starbucks Corporation is the leading retailer, roaster and brand of specialty coffee in the world, with approximately 9,000 retail locations in North America, Latin America, Europe, the Middle East and the Pacific Rim. The Company is committed to offering the highest quality coffee and the Starbucks Experience while conducting its business in ways that produce social, environmental and economic benefits for communities in which it does business. In addition to its retail operations, the Company produces and sells bottled Frappuccino? coffee drinks, Starbucks DoubleShot? coffee drink, and a line of superpremium ice creams through its joint venture partnerships. The Company"s brand portfolio provides a wide variety of consumer products. Tazo Tea"s line of innovative superpremium teas and Hear Music"s exceptional compact discs enhance the Starbucks Experience through best-of-class products. The Seattle"s Best Coffee? and Torrefazione Italia? Coffee brands enable Starbucks to appeal to a broader consumer base by offering an alternative variety of coffee flavor profiles.

This release includes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements, including anticipated store openings, comparable store sales expectations, trends in or expectations regarding the Company"s revenue and expense growth, net earnings and earnings per share results, and customer base and satisfaction, are all based on currently available operating, financial, and competitive information and are subject to various risks and uncertainties. Actual future results and trends may differ materially depending on a variety of factors including but not limited to, coffee, dairy and other raw material prices and availability, successful execution of internal performance and expansion plans, fluctuations in U.S. and international economies and currencies, ramifications from the war on terrorism, or other international events or developments, the impact of initiatives by competitors, the effect of legal proceedings, and other risks detailed in the Company"s filings with the Securities and Exchange Commission, including the "Certain Additional Risks and Uncertainties" section of Starbucks Annual Report on Form 10-K for the fiscal year ended October 3, 2004.

Starbucks Coffee Company
Lara Wyss, 206-318-4620
Audrey Lincoff, 206-318-5013

Source: Starbucks Coffee Company
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