One critic said the company's explanation for the coming price hikes amounts to 'word salad to hide corporate greed.'
One critic said the company's explanation for the coming price hikes amounts to"word salad to hide corporate greed."Starbucks on Tuesday reported a 31% increase in profits during the final three months of 2021, but the massive Seattle-based coffee chain nevertheless announced plans to further hike prices this year, drawing outrage from critics who say the company is pushing higher costs onto consumers to pad its bottom line.
"Corporations are jacking up prices on consumers and using concerns about inflation as cover to do so."by 39% to $20.4 million in 2021—told investors during the company's earnings call Tuesday that"supply-chain disruptions" and rising labor costs are to blame for the coming price increases, of which he suggested there will be several.
"We have additional pricing actions planned through the balance of this year, which play an important role to mitigate cost pressures including inflation,"grew to $8.1 billion at the tail-end of 2021, a 19% jump compared to the previous year. To progressive observers, Starbucks' announcement of price hikes fits a pattern of U.S. corporations—in sectors
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