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(Robert Caplin/Bloomberg News)
Kraft Foods Inc. said Thursday that it raised its U.S. list prices for Maxwell House and Yuban ground coffees by 22 percent and its instant coffee by around 10 percent.
The price hikes, which were effective on Wednesday, marked the company’s fourth coffee price hike in a year and came after arabica coffee futures soared to a 34-year high this month. Get the full story »
Kraft Foods Inc. said an appeals court agreed to hear arguments over whether Starbucks Corp. can proceed with taking over distribution of its bagged coffee as planned on March 1.
The U.S. Court of Appeals for the Second Circuit on Thursday said it would hold an expedited appeal, according to Kraft, which must file its argument by Feb. 9. A final ruling on the appeal could come by the end of the month.
Kraft planned to appeal last Friday’s ruling, where the U.S. District Court for the Southern District of New York denied a preliminary injunction that would block Starbucks from taking over the distribution from Kraft in just a couple of weeks. Get the full story »
Seattle-based coffee giant Starbucks will offer customers who don’t like Starbucks Via Ready Brew the option of replacing it with a 12-ounce bag of ground coffee.
Via, launched in 2009, was the first major entry into the U.S. instant coffee market in years. Though the coffee packets generated $135 million in sales in their first year, Starbucks is appealing to a wider audience with an offer: Try it. And if you don’t like it, we’ll replace it with regular coffee.
Starbucks announced the promotion Tuesday morning. It will run through August. In order to score free java, customers unhappy with their Via purchase can print out a form online and mail it in with their original receipt and UPC code. Requests must be postmarked by August 31. Get the full story »
Starbucks Corp., the world’s largest coffee chain, expects rising coffee prices to hit profits more than it previously thought and forecast full-year earnings below analysts expectations.
That news sent its shares down more than 2 percent, even as the company reported profits and U.S. sales that handily topped Wall Street’s targets. Get the full story »
