Starbucks raising beverages prices mid-July
How about your extra hot, grande Mochaccino – with an extra shot, soy milk, and a double pump of vanilla – how much was that?
Shares of Starbucks (SBUX) are falling 0.60% to $56.65 this afternoon after the company announced that it “prematurely” entered a price adjustment into its systems at USA locations.
After a technical glitch that prematurely added the surcharge ahead of its planned roll-out July 12, the company was forced to announce the price hike over the weekend.
“The maximum any customer could have been overcharged is 30 cents per beverage”, Starbucks said in a statement.
The company urges customers who were accidentally overcharged to contact Customer Service at 1-800-782-7282 so it can correct the error. The price of a large coffee landed at $2.45, up 10 cents from 2013’s price of $2.35.
The company has hiked prices in the first week of July for the last two years, according to Eater.
No word yet on which drinks will be affected or specifically by how much, though past year, as Eater points out, the per-drink increase was between 5 and 20 cents-keeping in mind that a mocha in Manhattan might be different than one in Milwaukee.
Starbucks beverages typically cost more than those from competitors like Dunkin’ Donuts and McDonald’s.