Execs discuss high coffee costs, plans for packaged goods business
Starbucks executives told analysts Wednesday that rising coffee costs would take a greater-than-expected toll on earnings in 2011, but continuing sales momentum would likely offset the damage. Officials from Seattle-based Starbucks Corp. offered updates on commodity costs, its packaged goods business and development targets after reporting a 44-percent increase in net income for the first quarter. The company also posted record U.S. sales and its fifth consecutive quarter of traffic growth. ...
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Contact: Desiree Torres Desiree.Torres@penton.com