Starbucks Prices For Some Drinks To Go Up By 5 To 20 Cents
NEW YORK (CBSNewYork/AP) -- Starbucks is raising prices again, with the increases ranging from 5 to 20 cents for most affected drinks, the company said.
The prices are set to go up starting Tuesday. The Seattle-based company also raised prices nationally about a year ago.
A small and large brewed coffee will each go up by 10 cents in most areas of the country, Starbucks says. That would bring the price of a large coffee to $2.45 in most U.S. stores.
Some other coffee sellers are cutting prices. Last week, The J.M. Smucker Co. said it would cut prices for most of its coffee products because of declines in future prices for unroasted coffee beans.
In an emailed statement Monday, Starbucks Corp. said coffee costs are only part of its expenses, which also include rent, labor, marketing and equipment.
The statement said the company continually evaluates pricing to "balance the need to run our business profitably while continuing to provide value to our loyal customers and to attract new customers.''
A representative for Starbucks, Lisa Passe, said prices are not being raised on any food items. Starbucks has been trying to get more customers to buy food items like sandwiches in hopes of driving sales.
(TM and © Copyright 2015 CBS Radio Inc. and its relevant subsidiaries. CBS RADIO and EYE Logo TM and Copyright 2015 CBS Broadcasting Inc. Used under license. All Rights Reserved. This material may not be published, broadcast, rewritten, or redistributed. The Associated Press contributed to this report.)
