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Non-Tech : Starbucks (SBUX)

SBUX 80.87

-2.7%

Oct 31 9:30 AM EDT

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From: Sr K	5/2/2023 8:31:35 PM
	of 1506

Starbucks Profit Surges on Higher Prices, Improved Operations Coffee chain says more-efficient stores helped drive 35% increase net income By Heather Haddon Updated May 2, 2023 6:57 pm ET Share Resize Listen (2 min) Starbucks said earlier this year that customers weren’t cutting back despite higher prices. PHOTO: GABBY JONES FOR THE WALL STREET JOURNAL Starbucks said higher prices and more-efficient operations helped drive gains in sales and profit for its most recent quarter, while business in its China market improved. The coffee giant said that better employee retention has helped keep drinks and customers flowing through its cafes, though the company’s increased spending on wages and rising supply costs curbed some profits at Starbucks’s North American stores. Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved.

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