Starbucks earnings up in Q4

Seattle Starbucks Corp. reported fourth-quarter earnings of $150 million, up significantly from earnings of $5.4 million in the same quarter in 2008.

The increase reflected sharp cuts in expenses related to the coffee giant’s decision to close 800 stores this year.

The company said fourth-quarter revenue was $2.4 billion, compared with $2.5 billion in fourth quarter 2008.