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LOS ANGELES -- Coffee chain Starbucks Corp., which for years raised prices without customer pushback, will cutting prices for the first time on some drinks while boosting the prices on others, Reuters reported.
Starbucks announced in April it would join other restaurant operators in fine-tuning pricing amid weak consumer demand. Now, according to spokeswoman Valerie O'Neil, the company will cut the price of popular beverages, including small coffees and lattes, by 5 to 10 cents in every one of its markets.
Prices for large, complex drinks, such as frappuccinos and macchiatos, could go up by as much as 25 cents in some markets. But on average, prices will increase between 10 and 15 cents, O'Neil said in the report, without naming specific markets.
The changes were effective in some markets Thursday and will be rolled out to the remainder of the U.S. in coming months. Pricing varies from market to market.
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