Starbucks Corporation (NASDAQ:SBUX) reported its results for the fourth quarter. Net income for the specialty eatery rose to $358.5 million (47 cents per share) vs. $278.9 million (37 cents per share) in the same quarter a year earlier. This marks a rise of 28.5% from the year earlier quarter. Revenue rose 6.8% to $3.03 billion from the year earlier quarter. SBUX reported adjusted net income of 37 cents per share. By that measure, the company beat the mean estimate of 36 cents per share. It beat the average revenue estimate of $2.95 billion.
“Fiscal 2011 was an extraordinary year in which Starbucks reported record earnings every quarter, and for the full year, and very strong comp store sales growth all around the world,” said Howard Schultz, chairman, president and ceo. “Starbucks today is executing in all markets and across all channels, and we have never been better positioned to go hard and go fast after the tremendous opportunity that lies ahead in 2012 and beyond,” Schultz added.
Competitors to Watch: Einstein Noah Restaurant Group, Inc. (NASDAQ:BAGL), Panera Bread Company (NASDAQ:PNRA), Caribou Coffee Co., Inc. (NASDAQ:CBOU), Peet’s Coffee & Tea, Inc. (NASDAQ:PEET), McDonald’s Corporation (NYSE:MCD), Yum! Brands, Inc. (NYSE:YUM), Green Mountain Coffee Roasters Inc. (NASDAQ:GMCR), Tim Hortons Inc. (NYSE:THI), Wendy’s Arby’s Group Inc. (NYSE:WEN), Sonic Corporation (NASDAQ:SONC) and Darden Restaurants (NYSE:DRI).
Kellogg Company (NYSE:K) reported its results for the third quarter. Net income for Kellogg Company fell to $290 million (80 cents per share) vs. $338 million (90 cents per share) a year earlier. This is a decline of 14.2% from the year earlier quarter. Revenue rose 4.9% to $3.31 billion from the year earlier quarter. K fell short of the mean analyst estimate of 89 cents per share. It fell short of the average revenue estimate of $3.41 billion.
“We are continuing to rebuild our momentum as a company. The third quarter offered some compelling signs of improvement, particularly top-line growth and in-market performance. Rebuilding momentum takes time, especially in challenging market environments. We increased the levels of investment in our supply chain in the quarter, a process we will continue. This multi-year program will improve the infrastructure and drive reliability and capability,” said John Bryant, Kellogg Company’s president and chief executive officer.
Competitors to Watch: Ralcorp Holdings, Inc. (NYSE:RAH), General Mills, Inc. (NYSE:GIS), Kraft Foods Inc. (NYSE:KFT), Flowers Foods, Inc. (NYSE:FLO), The Hain Celestial Group, Inc. (NASDAQ:HAIN), PepsiCo, Inc. (NYSE:PEP) and TreeHouse Foods Inc. (NYSE:THS).