Starbucks to serve up a costlier cup
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Starbucks Corp. is experimenting with a $2.50 cup of coffee that would add a premium product to help fight the first drop in U.S. customer visits in its 37-year history.
In Seattle, its hometown, Starbucks is testing a 12-ounce cup of “fresh-pressed” coffee at $2.50 each. The price is $2.25 in a Boston trial. Starbucks charges $1.55 for a regular brew. McDonald’s Corp. has been stealing customers with $1.39 coffee and is challenging Starbucks by adding espresso counters.
The new drink, made in a machine that brews each cup individually, may become part of Chief Executive Howard Schultz’s plan to increase traffic at the coffee chain’s 15,000 stores. Starbucks also is experimenting with a $1 refillable cup and slowing its expansion.
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