Starbucks F1Q06 (Qtr Ending Jan 1, 2006) Earnings Conference Call Transcript (SBUX)

Starbucks Corporation (SBUX)
Q1 2006 Earnings Conference Call
February 1st 2006, 4:30 PM.

Executives:

JoAnn DeGrande, Director of Investor Relations
Jim Donald, president and Chief Executive Officer
Howard Schultz, Chairman and Chief Global Strategist
Michael Casey, Executive Vice President, Chief Financial Officer and Chief Administrative Officer
Mary Ekman, Vice President Corporate Development and Investor Relation

Analysts:

Jeffrey Bernstein, Lehman Brothers
Larry Miller, Prudential
John Glass, CIBC
Dan Geiman, McAdams Wright Ragen
Steve Kron, Goldman Sachs
Matthew Difrisco, Thomas Weisel Partners
Sharon Zackfia, William Blair
David Palmer, UBS
Ashley Woodruff, Bear Stearns
John Ivankoe, J.P. Morgan

Presentation

Operator

Good afternoon my name is Mild (ph), I will be your conference facilitator. At this time, I would like to welcome everyone to the Starbucks First Quarter 2006 Earnings Conference Call. All lines have been placed on mute to prevent any background noise. After the speakers remark, there will be a question and answer session. If you would like to ask a question during this time simply press “*