Starbucks raising U.S. drinks prices next week

http://biz.yahoo.com/rb/070723/starbucks_prices.html?.v=2 ^ | Monday July 23, 4:57 pm ET

[BenLurkin]

ANGELES (Reuters) - Starbucks Corp. (NasdaqGS:SBUX - News) will raise U.S. prices on coffee, lattes and other drinks by about 9 cents a cup next week to help offset soaring costs on commodities such as milk and energy, a spokesman said on Monday.

The move marks Starbucks' second price increase in less than a year and comes a month after the coffee shop chain's chief financial officer warned that it would be "very challenging" for Starbucks to meet the high end of its 2007 earnings forecast, due in part to rising dairy prices.

The higher costs have also been a concern for investors, who have sent Starbucks' shares down more than 20 percent this year.

"We're always looking at the business costs, and given the rising cost environment in which we operate we think this is an appropriate time," spokesman Brandon Borrman said.

Starbucks' last price hike of about 5 cents per drink went into effect in October.

The latest increase affects drinks made behind the counter and is effective July 31 at Starbucks' 6,300 company-owned stores in the United States, Borrman said. Licensed stores control their own prices but are expected to follow the move, he added. There are about 3,500 licensed Starbucks stores in the United States.

Prices on bottled drinks, whole bean coffee and food are unaffected.

[Biblebelter]

No one ever claimed coffee snobbery is a cheap indulgence. Capitalism is based on finding a market and exploiting that market.

[Truth_will_rule_eventually]

Good thing I don’t patronize this company. They can go out of business for all I care.

[quark]

What real men (and women) drink:

[Utah Binger]

Best Coffee in Southern Utah

[ontap]

Never acquired a taste for a $4.00+ cup of coffee, I’m sure glad.

[WannabeTurk]

D 'n' D for me, thanks.

[Red in Blue PA]

I think I’ll stick with my Wawa coffee thank you.

[AnnaZ]

ARGH!

*clutches heart*

*mutters*

Still frickin' worth it... 4-sugar latte... nectar of the Gods... here's your frickin' nine extra cents...

[vortigern]

I prefer Dunkin' Donuts anytime. Apparently so do others.

[zendari]

Yep.

[cmsgop]

This is Great News!, Thanks for posting

[truth_seeker]

“Individual stores set their own prices but buy the drinks from the corporation?”

Starbucks are all company owned. No franchises.

[Revolting cat!]

I’ve never been at Starbucks, but now I’ll start boycotting them. That’ll learn ‘em!

[advertising guy]

to me Starbucks,Kryspy Kream, and Pepsi all missed it

Starbucks always tastes like it has 3 shots of caffein

Kryspy Kream,so much sugar ,you can’t taste the donut

Pepsi,admit it folks,it ain’t no Coca-Cola.

[Dinsdale]

Trust me on this one, real coffee snobs won't touch 'Starbucks', it's swill.

Starbucks is more about fools and their money being lucky to get together in the first place. On that count I applaud Starbucks management if not their Joe.

[hunter112]

Yeah, everybody here goes nuts over D'n'D. I miss the variety of espresso places we had when I lived in the Pacific Northwest. I didn't go to Starbucks much, but there were other really good coffee shops, like Tully's, Peet's, Seattle's Best, etc. They charged less than SB's for a good vanilla latte.

I know many of you don't understand it, but it's a thing of joy and beauty... :{

[ken5050]

I love to be able to do a survey of Starbucks drinkers under age 30. I’d wager that over 50% of those paying $5.00 each and every day for a cup of joe don’t have health insurance.

[Red Badger]

I’m a Dr. Pepper, Dunkin’ Donuts, Arabica Coffee kinda guy.......

[Red Badger]

If that’s Rachel Ray, she’s a little bigger than that now.......

[CHEE]

Thanks but No Thanks. For the price of two cups of the stinkey Star Bucks stuff I can get a three pound can of good Folgers Columbian plus a couple of tins of sardines.