Headlines

Starbucks Reports a Vente Quarter

Earnings rise on the heels of increased coffee drink prices

Published

19 years ago

January 27, 2005

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The Starbucks Corp. (Seattle) has announced that first quarter earnings rose 31 percent as it raised prices and added more sandwiches and flavored coffee drinks to its menu.

The net income gain was the company’s smallest quarterly gain in more than a year but it exceeded analysts’ expectations. Sales in the quarter, which ended Jan. 2, 2005, climbed 24 percent.

Starbucks raised prices an average 11 cents a cup in October on coffee drinks to cover increased costs for milk and coffee beans. It added salads and sandwiches at more than 2000 stores and introduced special flavored beverages including to increase holiday-season sales.

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