New York CNN —Extra shots, cold foam, oat milk and sugary syrups — coffee snobs might turn their noses up at Starbucks’ custom, often wildly indulgent, lattes and cappuccinos.
High-priced lattes and customized drinks helped lift the coffee chain’s US sales in the quarter ending on October 1, the company said Thursday.
In North America, sales at Starbucks-operated stores open at least 13 months jumped 8% in the quarter, driven mostly by people spending more per visit.
Starbucks’ financial results beat Wall Street’s expectations, sending shares of the company up about 11% Thursday.
But as Starbucks customers are shelling out more for ever-more elaborate drinks, other consumers are pulling back.
Persons:
Rachel Ruggeri, Ruggeri, Laxman Narasimhan, “, ”, we’ve, Taco Bell, McDonald’s, Narasimhan, we’re
Organizations:
New, New York CNN, Starbucks, ”, Investors
Locations:
New York, North America, China