Starbucks to raise prices on some drinks, packaged coffee
By Lisa Baertlein and Marcy Nicholson
June 20 (Reuters) - Starbucks Corp on Friday said it will raise prices on some drinks offered by its U.S. shops and also boost list prices on its own brand of packaged coffee sold in supermarkets and other retail outlets.
The action comes just weeks after J.M. Smucker Co raised list prices of its well-known Folgers and Dunkin' Donuts brands, for the first time since 2011 because of soaring green coffee costs.
Dunkin' Brand Group Inc also has said it expects "modest increases in coffee prices" at its Dunkin' Donuts restaurants.
Starbucks' more than 7,100 company-owned U.S. stores will raise the price of some drinks by 5 to 20 cents on June 24. For example, the cost of grande (16 oz) and venti (24 oz) brewed coffee will increase 10 to 15 cents in most markets.
The coffee chain characterized the drink price increases as limited, saying they would affect fewer than 20 percent of customers.
The price increase for some drinks, including grande brewed coffees, are the first in almost 4 years.
Prices of Starbucks' most popular drinks, the grande latte, tall (12 oz) brewed coffee and Frappuccino, will not go up in most stores. There also will be no price increases on food at this time, the company said.
Separately, the Seattle-based chain is boosting the price of Starbucks-brand whole bean and ground coffee sold in supermarkets and other stores by an average of 8 percent on July 21. Continuación...