Starbucks to Increase Beverage Prices by 1% Across U.S. StoresLauren S. Murphy
Starbucks Corp., the world’s largest coffee-shop operator, will increase prices for some beverages at its U.S. company-operated retail stores.
Prices will rise by a national average of 1 percent starting June 25, and will vary slightly in different regions, said Jim Olson, a spokesman for the Seattle-based company. In some areas this will be the first price increase on Starbucks products in 18 months to two years, he said.
“The vast majority of our pricing will not change,” Olson said in a phone interview today. “This will affect, in most stores, less than a third of beverages sold.”
He declined to specify which beverages will increase in price, and said the move won’t affect grande or venti sized brewed coffee, or the company’s signature frappuccinos or refreshers in the majority of stores.
Starbucks’s 7,000 U.S. company-operated retail stores generated $10.5 billion in revenue in 2012, according to data compiled by Bloomberg.
The shares had gained 17 percent in the last 12 months through yesterday while the Standard & Poor’s 500 Index also gained 17 percent.