Starbucks: Rising Coffee Prices Hurt Profit
Thursday, January 27th, 2011- VOA
The world's largest chain of coffee shops says a drastic increase in coffee prices will hurt profits even more than first thought.
This week, Starbucks said it expects its full-year profit will be as much as $1.47 a share, which is slightly below predictions by Wall Street analysts.
The price of coffee is up nearly 80 percent over the past year, and the cost of beans is about one-fifth of Starbucks expenses, which also include labor and rent.
Rising costs for many kinds of foods, including bread, beef, and milk are squeezing profits at many restaurants.
Starbucks: Rising Coffee Prices Hurt Profit - coffee article from VOA
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Labels: Coffee, food, Restaurants, shops, Starbucks
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