Starbucks' holiday beverages, treats and cups are back
Starbucks reported 23% revenue growth year-over-year during the last holiday season
Starbucks — which saw significant revenue growth during the 2021 holiday season — is already diving into its 2022 holiday promotional campaign. The world's largest coffee chain is launching its iconic holiday cups, treats and beverages Thursday.
Beginning Nov. 3, the company's holiday beverages will hit stores across the nation. On the menu will be Peppermint Mocha, Caramel Brulee Latte, Chestnut Praline Latte and Toasted White Chocolate Mocha drinks. New and returning treats will also be available, such as the Cranberry Bliss Bar and Snowman Cookie.
The Seattle-based company announced it's also bringing back the Irish Cream Cold Brew and the non-dairy Iced Sugar Cookie Almondmilk Latte.
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Starbucks is capitalizing on surging demand for cold beverages. During Starbucks 2022 Investor Day in September, the company said cold beverages account for two-thirds of all beverage transactions.
Starbucks reveals its new holiday cups and beverages which hit stores on Nov. 3, 2022. (Starbucks)
Aside from the sweet treats, the coffee chain is also introducing four new holiday cup designs this year. The holiday cups have been a staple of Starbuck's holiday promotional efforts since they were first introduced in 1997.
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The company is once again kicking off its holiday promotional efforts well ahead of Thanksgiving.
Last year, Starbucks had a "record holiday quarter" for the three months ended January 2, 2022. Fiscal first quarter revenue grew 23% year-over-year in North America.
Starbucks reveals its new holiday cups and beverages which hit stores on Nov. 3, 2022. (Starbucks)
The coffee giant reported a "double-digit increase in customer traffic" due to what Starbucks called its "compelling holiday lineup" and said that customer demand increased throughout "all dayparts and resulted in record Starbucks Card activations and reloads in excess of $3 billion."
Its rewards program also grew 21% to over 26 million 90-day active members.
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"In the US, we experienced very strong customer demand over the holiday season. Our ability to deliver the Starbucks Experience to our customers how, when, and where they want, resulted in first quarter revenue of $5.3 billion," former CEO Kevin Johnson told analysts during an earnings call last February.
Starbucks
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| SBUX | STARBUCKS CORP. | 76.11 | +0.43 | +0.57% |
This could be a good sign for the company which suspended its fiscal year guidance. Shares are down about 25% year to date.
Analysts predict the coffee giant will report Thursday that its fiscal fourth-quarter earnings declined from a year earlier, even as revenue increased.
That would mark the company’s third consecutive quarter with an annual drop in profit. Strong sales growth in the U.S. has helped drive revenue gains for Starbucks, but labor, worker training and supply chain costs have cut into its bottom line.
The Associated Press contributed to this report.