Starbucks did well this quarter. The chain's latest earnings report indicates strong sales despite labor limitations, ingredient shortages
The holiday season helped America's largest coffee business achieve record revenue of $8.1 billion and profit growth of 31% for the last three months of 2021.
The disruptions caused by the Omicron variant raised the company's operating costs, and while menu prices have already increased twice in a short time
Sales are our largest potential. We'll also continue to take pricing while we balance pricing decisions and actions with demand "Rachel Ruggeri
Prices are rising across the restaurant business for similar reasons, but Starbucks' statement that it will raise prices again, even as profits climb 31%
"Companies are doing a great job rebranding corporate greed as 'inflation,'" Price tweeted, citing Starbucks' major profit spike and CEO Kevin Johnson's
Starbucks officials said the price hikes haven't affected food and beverage sales. However, Twitter replies may indicate that customers are tiring of higher-priced coffee.
No more @Starbucks. You won't overcharge me for "inflation"—GREED! Your profits are up 31%, but you're raising prices while people recover from the pandemic's economic
The business has also been criticized for abandoning its intentions to require workers to be fully vaccinated and undergo weekly COVID-19 tests.