Starbucks Jacks Up Prices

Starbucks (NASDAQ:SBUX) has raised prices in certain U.S. markets to help recoup higher commodity and rent costs.

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“We regularly review pricing and make adjustments as needed to support the business,” said spokesman Alan Hilowitz. Cafes in the Pacific Northwest, Midwest, and Southern California raised prices on some beverages yesterday, he said.

The price increases are by no means universal, and vary by store and by region, according to Hilowitz.

The move could send some customers running to the competition: Dunkin’ Donuts (NASDAQ:DNKN), Green Mountain Coffee Roasters (NASDAQ:GMCR), Peet’s Coffee and Tea (NASDAQ:PEET), Caribou Coffee Company (NASDAQ:CBOU), and Coffee Holding Co. (NASDAQ:JVA).

 

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