Starbucks Warns Of Price Hikes
SEATTLE -- Your Starbucks coffee is likely to cost more next year.
Starbucks' chief financial officer says the company's plans for 2005 are likely to include price increases at the coffee counter to respond to rising milk costs.
Starbucks hasn't raised beverage prices in nearly four years.
That news came as Starbucks announced that it beat Wall Street's earnings estimates in its fiscal third quarter.
The company says it earned $98 million, or 24 cents per share, in its fiscal third quarter.
That's up 44 percent from the $68 million, or 17 cents per share, earned in the same period a year ago.
Analysts surveyed by Thomson First Call were expecting earnings of 22 cents per share.
Starbucks is also increasing its earnings outlook for the rest of the fiscal year.
SEATTLE -- Your Starbucks coffee is likely to cost more next year.
Starbucks' chief financial officer says the company's plans for 2005 are likely to include price increases at the coffee counter to respond to rising milk costs.
Starbucks hasn't raised beverage prices in nearly four years.
That news came as Starbucks announced that it beat Wall Street's earnings estimates in its fiscal third quarter.
The company says it earned $98 million, or 24 cents per share, in its fiscal third quarter.
That's up 44 percent from the $68 million, or 17 cents per share, earned in the same period a year ago.
Analysts surveyed by Thomson First Call were expecting earnings of 22 cents per share.
Starbucks is also increasing its earnings outlook for the rest of the fiscal year.