Starbucks has been hiking prices as inflation soars and labor costs rise. And it's planning more this year.
The coffee chain raised its US prices in October and again just last month in January, CEO Kevin Johnson noted during an analyst call Tuesday. He added that the company is planning even more price hikes this year.
In the three months ended on January 2, sales at Starbucks stores open at least 13 months jumped 13% globally and 18% in North America, driven partially by higher prices, the company said Tuesday. It's yet another example of US prices rising across the board, hitting consumers' wallets and affecting companies' bottom lines. The US consumer price index, a key inflation gauge, rose 7% last year, before seasonal adjustments, the Bureau of Labor Statistics reported. That was the biggest spike since June 1982, and it was higher than economists predicted.
Starbucks is no exception: The company said in October it would raise wages to at least $15 an hour for baristas, with most hourly employees earning an average of nearly $17 by the summer.
France Dernières Nouvelles, France Actualités
Similar News:Vous pouvez également lire des articles d'actualité similaires à celui-ci que nous avons collectés auprès d'autres sources d'information.
Starbucks planning more price hikes this yearStarbucks has been hiking prices as inflation soars and labor costs rise. And it's planning more this year.
Lire la suite »
Starbucks warns more price hikes on the way due to inflationThe Seattle-based coffee chain is planning even more menu price hikes this year after previous increases last October and January.
Lire la suite »
Starbucks to raise menu prices to offset inflationThe Seattle-based coffee franchise had already raised prices — once in October 2021 and December 2021 — but inflation woes and labor issues have forced the company to hike prices once again.
Lire la suite »
Starbucks steadily raising prices to mitigate cost, inflation and wage increasesSEATTLE - Starbucks has been steadily raising prices but customers don't seem to mind. The coffee chain raised prices in October and again in January, but Starbucks says this hasn't deterred customers. In the last three months, sales jumped 18 percent in North America and 13 percent globally. Starbucks said it hopes the trend continues and it also expects to raise prices again later this year. The company says the new prices help mitigate cost pressures, including inflation and increased wages.
Lire la suite »
Starbucks to raise prices as inflation, labor issues hit earningsStarbucks Corp. expects to continue raising prices in the coming months to combat squeezed profit from inflation and labor issues related to the COVID-19...
Lire la suite »
Roche 2021 Sales CHF62.8BBy Sarah Sloat Swiss pharmaceutical company Roche Holding AG said Thursday that it would raise its dividend for 2021 after an increase in sales and operating...
Lire la suite »