Higher commodity costs mitigated with increased guest traffic
Continuing to gain traffic momentum worldwide, Starbucks Corp. reported Thursday a 34-percent increase in third-quarter net income despite increased commodity costs. The Seattle-based coffeehouse chain also upgraded its outlook for the year, saying that efforts to enhance the store experience have resonated with customers and driven traffic, mitigating the impact of higher commodity costs, including coffee. For the third quarter ended July 3, Starbucks reported net income of $279.1 million, ...
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