Rochester,NY 8/26/2009 9:33:35 PM
Starbucks Corp. SBUX, Hikes Prices
Starbucks Corp.
Starbucks Corp. shares have managed to get back to just under $20 a share and the company plans on keeping it that way.
Starbucks said the pricing may not be consistent from store to store, depending on whether an outlet is company operated or a licensed store. There also may be variations between markets.
Store employees have been advised in memos to "expect customers to be sensitive to pricing changes in this economic climate," the WSJ reported. Starbucks Corp. told news outlets this is the first time Starbucks has lowered prices for its products. Starbucks' last chain-wide price hike was in 2007.
SBUX shares have managed to increase 108% in 2009 an amazing feat for a company who's product line is a luxury item during a time when most Americans are struggling to get by.
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