Starbucks 1999 Annual Report Download - page 3

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SELECTED FINANCIAL DATA
In thousands, except earnings per share and store operating data
The following selected financial data have been derived from the consolidated financial statements
of the Company. The data set forth below should be read in conjunction with “Management’s
Discussion and Analysis of Financial Condition and Results of Operations” and the Company’s
consolidated financial statements and notes thereto.
As of and for the  ,   ,   ,   ,  , 
fiscal year ended (1) (53 Wks) (52 Wks) (52 Wks) (52 Wks) (52 Wks)
   
Net revenues
Retail $1,423,389 $1,102,574 $ 836,291 $ 601,458 $ 402,655
Specialty(2) 256,756 206,128 139,098 96,414 62,558
Total net revenues 1,680,145 1,308,702 975,389 697,872 465,213
Merger expenses(3) – 8,930 – – –
Operating income 156,711 109,216 86,199 56,575 40,116
Gain on sale of investment(4) – – – 9,218 –
Net earnings $ 101,693 $ 68,372 $ 55,211 $ 41,710 $ 26,102
Net earnings per common
share – diluted(5) $ 0.54 $ 0.37 $ 0.33 $ 0.27 $ 0.18
Cash dividends per share – – – – –
  
Working capital $ 134,903 $ 157,805 $ 172,079 $ 239,365 $ 134,304
Total assets 1,252,514 992,755 857,152 729,227 468,178
Long-term debt
(including current portion) 9,057 1,803 168,832 167,980 81,773
Shareholders’ equity 961,013 794,297 533,710 454,050 312,231
  
Percentage change
in comparable store sales(6) 6% 5% 5% 7% 9%
Stores open at year-end
Continental North America
Company-operated stores 2,038 1,622 1,270 929 627
Licensed stores 179 133 94 75 49
International
Company-operated stores –
United Kingdom 97 66 31 9 1
Licensed stores 184 65 17 2 –
Total stores 2,498 1,886 1,412 1,015 677
(1) The Company’s fiscal year ends on the Sunday closest to September 30. Fiscal year 1999 included 53 weeks and
fiscal years 1995 to 1998 each included 52 weeks.
(2) Specialty revenues include product sales to and royalties and fees from the Company’s licensees.
(3) Merger expenses relate to the business combination with Seattle Coffee Holdings Limited in fiscal 1998.
(4) Gain on sale of investment relates to the sale of Noah’s New York Bagels, Inc. stock in fiscal 1996.
(5) Earnings per share is based on the weighted average number of shares outstanding during the period plus
common stock equivalents consisting of certain shares subject to stock options. In addition, the presentation of
diluted earnings per share assumes conversion of the Company’s formerly outstanding convertible subordinated
debentures using the “if converted” method when such securities were dilutive, with net income adjusted for
the after-tax interest expense and amortization applicable to these debentures. Earnings per share data for
fiscal years 1995 through 1998 have been restated to reflect the two-for-one stock splits in fiscal 1999 and 1996.
(6) Includes only Company-operated stores open 13 months or longer.
.
STARBUCKS COFFEE COMPANY