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Saturday, November 07, 2009
Barron's says Starbucks Still has Legs on Cost Cutting (SBUX)
Comtex
Nov 07, 2009 (SmarTrend(R) News Watch via COMTEX) ----11/7/2009-According to a Barron's writer Tiernan Ray, Starbucks (NASDAQ:SBUX) shares has the legs to keep moving higher. Ray wrote a piece entitled "Starbucks to Keep Shining," which discusses the gourmet coffee maker's most recent quarterly results, which came in better-than-expected and better than the year-ago figures (EPS of 24 cents, topping estimates of 21 cents). As a result, the stock is currently trading at its 52-week high and Ray believes it can keep moving higher since its same-store sales fell only 1% in the quarter, vs. consensus estimates for a 1.6% decline. Furthermore, Ray writes that the company has become very good at cutting costs and Starbucks faced the realization that having a store on every corner was cutting into its profits and reduced total stores by 45 locations.
Write to Chip Brian at cbrian@tradethetrend.com
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Copyright, Comtex News Network, Inc. 2009
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