Seattle coffee retailer Starbucks will release its second quarter financial results April 21 after the market close. An earnings conference call will follow at 2 p.m. Pacific time.
The coffee giant is expected by analysts to announce a 50 percent earnings increase over last year’s second fiscal quarter. That average estimate calls for Starbucks’ profits to be 24 cents a share for the quarter. The company reported second-quarter earnings of 16 cents a share in the comparable quarter last year.
Starbucks has seen its profits rising after a company-wide belt tightening eliminated scores of unprofitable stores and slowed the retailer’s frenetic growth rate. The company has introduced some lower cost products to compete with new competition from McDonald’s and Dunkin Donuts. It has continued to broaden its product line with low-calorie sandwiches and instant coffee.
Starbucks’ stock closed Wednesday at $24.91, just below its 52-week high and more than twice the 52-week low of $11.13 a share.
The earnings conference call will be broadcast on the Internet at http://investor.starbucks.com