Starbucks Increases Prices of Some Coffee Drinks

Getting a coffee from Starbucks (NASDAQ: SBUX) could cost now you more soon. On July 12 the coffee chain is planning to increase the price on certain drinks. According to CNN, some drinks can go up as much as 30 cents. The announcement was made last week due to a glitch where some customers were charged the higher price by mistake. Starbucks hasn’t announced with drinks will have a price increase but they indicated that it would impact “select beverages.” According to CNN, those who paid the higher price prior to the roll out has to call Starbucks’s customer service. The company’s customer service hotline is 1-800-782-7282.

According to USA Today, Starbucks has raised it prices of its drinks before. The company only raised it prices between 5 and 20 cents. The company applies a regional pricing system. The prices of drinks will cost more in other cities. According to The New York Post, Starbucks has been raising its prices in the past two years during this time.

The company release a statement which indicated that “On July 12, Starbucks is planning a small price increase on select beverages. Unfortunately, that price adjustment was prematurely entered into the point of sale systems in our US company-operated stores,” the company said in a statement Friday.

“As a result, some customers were charged incorrectly. The maximum any customer could have been overcharged is 30 cents per beverage.” According to Fortune, the drinks were raised between 5 and 20 cents to help with rising hourly wages and benefits. The coffee increase has helped with rising employee costs and higher mobile technology investments to improve service. The company has recently overhauled its loyalty program. They also now provide college tuition help to its employees.

The company is also planning to raise employee raises by five percent in October according to a letter written by Chief Executive Howard Schultz.

Starbucks shares were down 33 cents, or 0.6 percent, at $56.19 in midday trading on the Nasdaq.

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