Starbucks 2006 Annual Report Download - page 22

Download and view the complete annual report

Please find page 22 of the 2006 Starbucks annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 83

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80
  • 81
  • 82
  • 83

Item 6. Selected Financial Data
In thousands, except earnings per share and store operating data
The following selected financial data are derived from the consolidated financial statements of the Company. The data
below should be read in conjunction with “Management’s Discussion and Analysis of Financial Condition and Results of
Operations,” “Risk Factors,” and the Company’s consolidated financial statements and notes. In particular, see Note 1 to
the consolidated financial statements included in Item 8 of this Report for a description of accounting changes that
materially affect the comparability of the data presented below.
AS OF AND FOR THE FISCAL YEAR ENDED
(1)
Oct 1, 2006
(52 Wks)
Oct 2, 2005
(52 Wks)
Oct 3, 2004
(53 Wks)
Sept 28, 2003
(52 Wks)
Sept 29, 2002
(52 Wks)
RESULTS OF OPERATIONS
Net revenues:
Company-operated retail $6,583,098 $5,391,927 $4,457,378 $3,449,624 $2,792,904
Specialty:
Licensing 860,676 673,015 565,798 409,551 311,932
Foodservice and other 343,168 304,358 271,071 216,347 184,072
Total specialty 1,203,844 977,373 836,869 625,898 496,004
Total net revenues 7,786,942 6,369,300 5,294,247 4,075,522 3,288,908
Operating income 893,952 780,518 606,494 420,672 313,301
Gain on sale of investment
(2)
— — — — 13,361
Earnings before cumulative effect of change in accounting
principle 581,473 494,370 388,880 265,177 210,460
Cumulative effect of accounting change for FIN 47,
net of taxes
(3)
17,214 — — — —
Net earnings $ 564,259 $ 494,370 $ 388,880 $ 265,177 $ 210,460
Earnings per common share before cumulative effect of
change in accounting principle — diluted $ 0.73 $ 0.61 $ 0.47 $ 0.33 $ 0.26
Cumulative effect of accounting change for FIN 47,
net of taxes — per common share 0.02 — — — —
Net earnings per common share — diluted $ 0.71 $ 0.61 $ 0.47 $ 0.33 $ 0.26
Cash dividends per share — — — — —
BALANCE SHEET
Working capital
(4)
$ (405,832) $ (17,662) $ 604,636 $ 335,767 $ 328,777
Total assets 4,428,941 3,513,693 3,386,266 2,775,931 2,249,432
Short-term borrowings
(5)
700,000 277,000 — — —
Long-term debt (including current portion) 2,720 3,618 4,353 5,076 5,786
Shareholders’ equity $2,228,506 $2,090,262 $2,469,936 $2,068,507 $1,712,453
STORE INFORMATION
Percentage change in comparable store sales
(6)
United States 7% 9% 11% 9% 7%
International 8% 6% 6% 7% 1%
Consolidated 7% 8% 10% 8% 6%
Stores opened during the year:
(7)(8)
United States
Company-operated stores 810 580 521 514 507
Licensed stores 733 596 417 315 264
International
Company-operated stores 230 166 144 126 118
Licensed stores 426 330 262 246 288
Total 2,199 1,672 1,344 1,201 1,177
18 STARBUCKS CORPORATION, FORM 10-K