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  • Starbucks reported that its first quarter profit was up 41 percent to $110.8 million, compared $78.4 million during the same period a year ago. Net revenues rose 27.7 percent in the quarter to $1.3 billion; the company said the improvement could be attributed to a string holiday season and the continued success of its stored-value card.

    The coffee retailer said that it plans to add 1,300 stores to its global chain of 7,567 cafes this year, with expected sales growth of 20 percent and earnings growth of 20 to 25 percent.

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