Starbucks Coffee (SBUX) Raises Prices on Select Items by 10-30 Cents
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(Updated - November 22, 2016 3:36 PM EST)
Starbucks Coffee (NASDAQ: SBUX) confirmed that it recently raised prices on select items by 10-30 cents. The price increases impacted cold beverages and select bakery items. Approximately 90 percent of beverages did not changed price, including Hot brewed coffee, espresso, tea or prepared items, the company stated.
A Starbucks spokesperson issued the following statement to StreetInsider.com:
"We continually evaluate pricing on a product-by-product and market-by-market basis in our stores in order to balance our business needs while continuing to provide value to our loyal customers and to attract new customers. On November 10 select cold beverages and select bakery items in most stores experienced a pricing change of .10 – .30c. We expect the average customer ticket to increase by about .5 percent as a result of these beverage adjustments. Approximately 90 percent of beverages have not changed price, for example Hot brewed coffee, espresso, tea or prepared items were not impacted. We remain committed to providing value to our customers in meaningful ways; members of our Starbucks Rewards™ loyalty program will continue to enjoy benefits whenever they visit our stores and when they buy specially marked packaged coffee in their grocery store."
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