Industry News | October 17, 2002

Starbucks Reaffirms EPS Goals

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In a press release today, Starbucks reaffirmed its expected earnings-per-share growth rate of 20-25% over the next three to five years. The targeted growth was first announced during the quarterly earnings presentation in July.

The company plans to outline its strategy for achieving this growth rate at an October 24 analyst conference.

"The expanding growth opportunity for Starbucks worldwide, our commitment to innovation, and our focus on the customer experience will drive our continued success. We believe we are poised to deliver on our impressive earnings per share growth target of approximately 20-25 percent for the next 3-5 years," stated Michael Casey, executive vice president and chief financial officer.