Since 1998, Starbucks has contracted with Kraft Foods to distribute its bagged coffee through grocery stores. In letters released to The Wall Street Journal and Reuters, Kraft fired yet another salvo in its bid to hold together…
Starbucks drew more customers to its stores and got them to spend more money, boosting its fiscal fourth-quarter profit 86% from the same quarter a year ago. Same-store sales grew 8% in that time.
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Starbucks (SBUX) plans to reduce the number of stores it renovates in 2011 as it focuses on flagship outlets, Bloomberg News reported.
The company will leave its renovation budget unchanged at $250 million, but renovate only about half the 1,900 stores due to be upgraded next year, development chief Arthur Rubinfeld told Bloomberg News.
The strategy will focus on stores in…
Continue reading Starbucks to Renovate Fewer Stores in 2011
Starbucks to Renovate Fewer Stores in 2011 originally appeared on DailyFinance on Thu, 04 Nov 2010 07:15:00.
Filed Under: Company News, Starbucks, McDonald’s, Retail
Starbucks has accelerated fiscal fourth-quarter same-store sales growth thanks to increasing demand for breakfast snacks and higher-priced coffee. That’s the conclusion of a UBS analyst, who raised his stock price-target on the…
Be prepared to pay more for your venti-sized extra-hot half-caff soy caramel macchiato at Starbucks starting soon. As the price of green Arabica coffee greens skyrockets, the company says it will raise prices for some of its mo…