Love going to Starbucks?
Well, you may love them just a tiny bit less after you hear this news!
The coffee giant announced on Friday that they will be increasing the prices of some of their drinks from 5 cents up to 20 cents!
And that’s not all!
The company will also be hiking up the price of their 12 ounce coffee bags that peeps can buy in grocery stores from $8.99 to $9.99!
Although the company has declined to reveal the specific motivating issues that have caused this increase in price, a spokeswoman for the company did say this:
“For both our packaged coffee and retail business, there are many factors that contribute to our pricing decisions, including competitive dynamics and our overall cost structure.”
Another thing the company said was that its recent “free” college tuition program that they announced last week “is in no way related” to this new announcement that they’ll be anteing up their prices.
Plus none of the their food prices will be raised so we guess that’s good!
We’re not exactly sure what has spurred this latest increase as the company has been keen to say how “the vast majority of our customers will not be affected”, but we’re definitely sure that a lot of its customers will not like any price increase – no matter how small it is – since the coffee company is pretty pricey already!
To a company like Starbucks, however, business will always be just business!
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