Starbucks Verismo Brewers Sell Out After Strong Sales
Starbucks Corp. (SBUX), the world’s largest coffee-shop operator, said some of its Verismo single- serving coffee brewers have sold out after initial sales topped company forecasts.
“It’s really exceeded our expectations,” Alisa Martinez, a spokeswoman for Seattle-based Starbucks, said in an interview. “Some of the machines are on back order and they should be in today.”
Starbucks last week began selling the latte-making machine in a challenge to Green Mountain Coffee Roasters Inc. (GMCR)’s Keurig brand. The Verismo 580 model is priced at $199 on the Starbucks store website. Williams-Sonoma Inc. (WSM) also sells Verismo brewers.
Starbucks won’t have trouble getting enough Verismo inventory for the holiday season, Martinez said.
“We have a good understanding of the demand that we’re going to be seeing,” she said. The Verismo will be available in about 65 percent of Starbucks’s U.S. cafes beginning Oct. 16.
The shares fell 0.8 percent to $50.10 at the close in New York. Starbucks has gained 8.9 percent this year.
Green Mountain dropped 1.5 percent to $23.52 and has lost 48 percent this year.
To contact the reporter on this story: Leslie Patton in Chicago at lpatton5@bloomberg.net
To contact the editor responsible for this story: Robin Ajello at rajello@bloomberg.net
Starbucks Verismo Brewers Sell Out as Sales Top Forecasts
Peter Foley/Bloomberg
Starbucks Corp. shares fell 0.8 percent to $50.10 at the close in New York. Starbucks has gained 8.9 percent this year.
Starbucks Corp. shares fell 0.8 percent to $50.10 at the close in New York. Starbucks has gained 8.9 percent this year. Photographer: Peter Foley/Bloomberg
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