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Non-Tech : Starbucks (SBUX) -- Ignore unavailable to you. Want to Upgrade?

To: Paul K who wrote (751)	7/1/1999 2:01:00 PM
From: Paul K	Respond to of 1506

S&P Reiterates Accumulate on Starbucks Shares Thursday July 01, 1999 (07:27 am ET) NEW YORK, Jul. 01 (Standard & Poor's) - Standard & Poor's reiterated its (4)STARS ranking of (**** accumulate) on shares of Starbucks Corp (SBUX) despite the coffee retailer's downward revision in earnings expectations. Analyst Karen Sack says that SBUX now sees FY 99 (Sep.) EPS of $0.54, vs. the $0.60 expected by Wall Street. Core stores sales remain strong, notes Sack, with same-store sales up 7% in June. But she adds that the company's peripheral businesses have not grown as fast as expected, and startup costs for its Internet strategy are higher than anticipated. Sack lowered her FY 99 EPS estimate by $0.06 to $0.54. SBUX also announced a new Internet site for gourmet/specialty food, kitchen items and home furnishings will be in place by holiday '99. Sack says the company will soon announce a partner for this operation. personalwealth.com