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Non-Tech : Starbucks (SBUX)

SBUX 85.34

+3.3%

Nov 21 9:30 AM EST

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To: Paul K who wrote (708)	6/9/1999 11:24:00 AM
From: Beltropolis Boy	Read Replies (1) of 1506

fwiw, excerpts from lehman's latest report. ----- Starbucks: "Shag" this - Reports Strong 6% "Comps" Author: Mitchell J. Speiser, CFA (212)526-3255 Today's Date: 05/28/99 Highlights: * May "comps" of 6% - vs. 7% last year - met our aggressive view; 4%+ volume gains - despite aggressive unit growth - & 2% price/mix reflects Brand Power * Revenues +26% & company-operated unit growth of +25% - 30%+ systemwide - were solid & broadly in-line with our view * Upcoming events: - Austin Powers premiere 2nd week in June; major Starbucks cameo/"Shag"awareness - June results due 7/1; expect "comps" of 5-7% vs. 4% last year - Sometime in June; internet strategy announcement/conference call * Reiterate 1-Buy & $50 year-end price target

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