Are You Paying Starbucks' High Prices Despite Plunging Costs of Coffee Beans?
A report says the coffeehouse chain can thank consumer ignorance for its most profitable quarter ever.
According to a report by DailyFinance, Starbucks (SBUX) reported its most profitable quarter ever — ever — last month, despite the plunging prices of coffee beans. The report says that companies behind such big-name grocery store packaged coffee brands such as Maxwell House, Folgers and Dunkin' Donuts are responding to the decrease in cost of coffee beans by lowering prices regularly and passing the savings on to consumers. "Meanwhile, Starbucks has stuck firmly to its sticker price, refusing to follow the market down, or share its good fortune with its customers," the report reads. "It's been nearly four years since the company announced its last (and only) significant price cut." While some consumers will continue to pay Starbucks' …
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