Starbucks is hiking prices, again
Your morning coffee may be getting a little more expensive.
Starting Tuesday, Starbucks (SBUX) will charge 5 to 20 cents morefor some of its drinks -- mostly hot beverages -- at the majority of its U.S. stores.
The company did not specify exactly which drinks will be impacted because it charges different prices in different regions of the country.
Starbucks has increased prices on different products for at least the past three years, but Starbucks spokesperson Lisa Passe said this is the first increase in two years "for the majority of impacted beverages, such as Tall brewed coffee and Grande Latte."
On average a Starbucks receipt will be about 1% more expensive, she added. Food, packaged coffee, or and some drinks such as a Frappuccinos and Grande-sized brewed coffees will not be affected. But
Tall and Venti brewed coffee will go up by 10 cents in most markets.
The higher prices come despite an 18% boost in company profits last quarter.
Starbucks reported $4.6 billion in net earnings despite higher operating expenses due in part to upping wages and benefits for its employees last quarter.
Your morning coffee may be getting a little more expensive.
Starting Tuesday, Starbucks (SBUX) will charge 5 to 20 cents morefor some of its drinks -- mostly hot beverages -- at the majority of its U.S. stores.
The company did not specify exactly which drinks will be impacted because it charges different prices in different regions of the country.
Starbucks has increased prices on different products for at least the past three years, but Starbucks spokesperson Lisa Passe said this is the first increase in two years "for the majority of impacted beverages, such as Tall brewed coffee and Grande Latte."
On average a Starbucks receipt will be about 1% more expensive, she added. Food, packaged coffee, or and some drinks such as a Frappuccinos and Grande-sized brewed coffees will not be affected. But
Tall and Venti brewed coffee will go up by 10 cents in most markets.
The higher prices come despite an 18% boost in company profits last quarter.
Starbucks reported $4.6 billion in net earnings despite higher operating expenses due in part to upping wages and benefits for its employees last quarter.
