Starbucks has reported a 22% increase in first quarter net revenue to $2.4bn (£1.3bn).
Net earnings rose by 18% to $205m for the quarter, which ended on 31 December.
The group opened 728 stores during the period taking it to a total estate of 13,168.
Starbucks plans to open at least 2,400 new stores globally in the current financial year.
In the United States, the group intendeds open approximately 1,000 company-operated sites and 700 licensed locations.
Internationally, Starbucks plans to open approximately 300 company-operated stores and 400 licensed stores.
Starbucks, the fast-growing coffee chain, plans to open 50 new outlets a year for the foreseeable future in the UK.
The company, which currently operates 530 sites in the UK, said that in London alone it would open one site a fortnight over the next 10 years, which would add around 260 outlets to its estate.
There are currently 256 Starbucks located within the M25.
Phil Broad, managing director for UK & Ireland, said: “We don’t think we’ve reached saturation point and we certainly don’t see London as finished yet.”
International total net revenues for the quarter increased by $99m, or 32%, to $405m. International operating profit fell by 3% to $33m, with operating margin dropping to 8.2% of related revenues from a record first quarter high of 10.9%.
The fall was attributed to higher cost of sales including occupancy costs. The increase in cost of sales including occupancy costs was primarily due to accounting corrections in the same period in 2005, and to rising energy and fuel prices.
Jim Donald, Starbucks’ president and chief executive, said: "Starbucks strong revenue and comparable store sales growth this quarter clearly demonstrate the fundamental strength of our business. The record number of store openings during the period puts our aggressive 2007 store opening target well within reach."
The group is targeting total net revenue growth of approximately 20% for the full year and comparable store sales growth of 3% to 7%.
