The Seattle-based coffee chain is planning even more menu price hikes this year after previous increases last October and January.
, ongoing supply chain woes and rising labor costs that have eaten into Starbucks’ profits.
Johnson noted the Omicron COVID-19 case surge caused additional costs and staffing shortages that were in “excess of our expectations.” Delivery and transportation of key goods also grew more expensive as Starbucks’ third-party partners experienced delays and labor shortages. Inflation hit a four-decade high of 7 percent in December. Businesses are paying steeper prices for key commodities such as meat, coffee and dairy products – and passing on some of those expenses to American consumers.
Starbucks is the latest of several companies to announce price hikes to combat their rising expenses.raised menu prices by 6 percent
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 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 »
Natural gas prices, surcharges driving up gas bills; new law would axe Illinois surchargeNatural gas prices have been skyrocketing nationwide due to inflation but local lawmakers say surcharges from utilities are also adding to the cost.
Lire la suite »
Fed expected to raise rates 7 times this year to fight inflation, BofA saysBank of America economists expect the Federal Reserve to hike interest rates at every meeting for the remainder of the year as central bank policymakers look to tackle inflation.
Lire la suite »
BRC: UK retailers raise prices at fastest pace since 2012According to the latest report published by the British Retail Consortium (BRC), the UK retailers hiked their prices to the highest levels in more tha
Lire la suite »
Fed's Barkin: Pace of rate hikes will depend on the pace of inflationFederal Reserve Bank of Richmond President Thomas Barkin said that he would like the Fed to get better positioned, speaking in an interview with CNBC
Lire la suite »
10 ways to save fuel and money despite high gas pricesSome basic and not-so-basic tips on how to save gas, now that fuel prices are once again on the rise.
Lire la suite »