Shares of Starbucks (Nasdaq: SBUX ) are bouncing higher today, buoyed by the coffee giant's October same-store sales growth of 9%. At $31 and change, the stock is now hovering near a new all-time high.
For the four weeks ended Oct. 26, Starbucks' total sales climbed 30% to $363 million. It opened 116 new locations during the period, ending with 7,341 in total. The month marks a strong start to the company's new fiscal year.
Starbucks' same-store sales growth is legend, to the point that whenever the company reports its monthly results, you'll often overhear the following conversation here at Fool HQ, usually between fellow writer Jeff Fischer and me.
"Hey, Lou, did you see Starbucks' comps?"
"No, what'd they report?"
"9% this time."
"My lord, it never stops."
Then, we just go right back to whatever we were doing. We've become jaded -- and oh so bored -- with Starbucks' comps growth at this point, only because it's always so strong. The fact that we can't muster the enthusiasm to cheer the company month after month and quarter after quarter, of course, speaks volumes about its success at bringing customers back into its stores again and again. Starbucks is consistent, something shareholders (including me) and the market clearly love.
Twelve consecutive years of same-store sales growth of at least 5% annually really is something to marvel. But then, Starbucks gives us more stuff to marvel at with every passing month. Whether it's seasonal new drinks, or the Starbucks card, or the new Starbucks affinity Visa card that compels coffee lovers to return several times a month, Starbucks has the comps magic down.
And while I appreciate that fact very much, and certainly don't want to see the momentum slow, it's almost comical to watch the company succeed over and over. You can bet I'll be anxiously (yawn) awaiting its November same-store sales results, with grande latte in hand.
As mentioned, LouAnn Lofton owns shares of Starbucks.