Starbucks reports $13.3 billion in net revenue for fiscal 2012

Starbucks Corporation released their fiscal 2012 earnings results, reporting US$13.3 billion in net revenue for the year.  The revenue represents an increase of 14 per cent over a year prior, with record earnings of US$3.4 billion coming in during the fourth quarter.  The company noted that it opened 1063 net new stores globally in the year, and that their global comparable store sales increased 7 per cent, driven by 6 per cent increase in traffic and a 1 per cent increase in the average ticket spend.   Comparable store sales grew strongest in the China Asia Pacific segment, seeing a 15 per cent increase in sales growth. Store sales in the Americas segment grew 8 per cent, while the Europe Middle East and Africa (EMEA) region continued to perform the weakest, with 0 per cent growth in sales.  Following these final results, Starbucks updated its fiscal 2013 targets, with plans to further accelerate its store growth by opening around 1300 net stores globally next year, which would represent an increase of 22 per cent. Of those new stores, around 600 would be in the Americas region, another 600 in China Asia Pacific, and 100 in the EMEA region. The company targets 10 – 13 per cent revenue growth for next year.