
Starbucks Adds Salads, Kicks Sodas
Starbucks (Symbol: SBUX) announced that they’d be offering salads in 4,400 U.S. stores by the end of July 2007. It’s part of their move to appeal to the lunch crowd.
Making an exit will be Jones Soda (Symbol: JSDA). The soda is usually in the cold case by the registers, but at month’s end, they’ll be history.
According to a report in the Seattle Post-Intelligencer, Starbucks’ stores that offer a lunch option generate an additional $30,000 in revenue. If that number holds up, this move could bring in an extra $132 million annually.
The salads are expected to be around $6 and the menu will vary with location. Each of the 4,400 locations will offer 2-5 salad choices based on the regional consumer preferences.
Starbucks closed at $26.34 on July 5th—trading near it’s 52-week low of $25.22. The company has 740.8 million shares outstanding.
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