Here’s the entire text of the prepared remarks from Starbucks’ (ticker: SBUX) Q4 2005 conference call. The Q&A is here. We recognize that this transcript may contain inaccuracies - if you find any, please post a comment below and we’ll incorporate your corrections. And please note: this conference call transcript is a Seeking Alpha product, so feel free to link to it but reproduction is not permitted without the explicit permission of Seeking Alpha.

Executives:

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

Analysts:

Ashley Woodruff, Bear Stearns
Mark Kalinowski, Buckingham Research
Jeffrey Bernstein, Lehman Brothers
Larry Miller, Prudential
Matthew Difrisco, Thomas Weisel Partners
Craig Bibb, WR Hambrecht
John Glass, CIBC
Sharon Zackfia, William Blair
David Palmer, UBS
Dan Geiman, McAdams Wright Ragen
Kristine Koerber, JMP Securities

Presentation

Operator

Good afternoon. My name is Wes and I will be your conference facilitator. At this time, I would like to welcome everyone to the Starbucks Fourth Quarter and Fiscal Yearend 2005 conference call. All lines have been placed on mute to prevent any background noise. After the speakers remarks, there will be a question and answer session; if you would like to ask a question during this time, simply press “*

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