Starbucks announces annual net revenue of $11.7 billion in 2011 financial year

Starbucks Corporations released their fourth quarter earnings report on 3 November, announcing their total net revenue reached US$3 billion for the quarter, bringing their full year revenue to $11.7 billion. The increase was largely attributed to a 9 per cent increase in global comparable sales, driven by a 6 per cent increase in traffic and 2 per cent increase in average ticket. A favourable impact of foreign currency exchange was also cited for increasing figures. The annual revenue figures represent an increase of around 11 per cent on a comparative 52-week basis to the last financial year. “Fiscal 2011 was an extraordinary year in which Starbucks reported record earnings every quarter, and for the full year, and very strong comp store sales growth all around the world,” the company’s Chairman, President and CEO Howard Schultz commented in a press release. Starbucks CFO Troy Alstead said that the strong results put the company in a good position to enter the new fiscal year and continue to pursue profitable growth opportunities. Along with their revenue results, the company announced a quarterly increase in earnings per share of 27 per cent to $0.47 in Q4. They attributed $0.10 of the earnings to non-routine gains. For the full 2011 fiscal year, earnings per share were up 24 per cent to a record $1.52 from $1.23 per share, excluding non-routine gains in Q4, the impact of restructuring and the extra week in the quarter. Throughout the year, Starbucks returned approximately US$945 million to shareholders through share repurchases and dividends, more than doubling the amount returned in the 2010 financial year.