This is the last week to enjoy your beloved Starbucks at its current cost, as the chain plans to raise the price for some of its drinks by five to 20 percent beginning next week, and packaged coffee sold in supermarkets will soon cost as much as $1 more.
According to the Associated Press, this move comes just three months after CEO Howard Schultz said the company had no intentions of raising prices. However, in an email sent today, spokesman Jim Olson said that various influences led to price changes:
Starbucks spokesman Jim Olson noted that many factors go into pricing decisions, including "competitive dynamics" and the company's "cost structure," which he said includes costs for a variety of ingredients, as well as materials, labor and occupancy costs.
Noting that Starbucks also made a similar decision last year, the Associated Press said the new prices will be implemented beginning on Tuesday.
[via The Associated Press]
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