Jan. 26 (Bloomberg) -- Starbucks Corp. said raw-material costs may ease in the second half of the year.
Chief Financial Officer Troy Alstead said today on a conference call with analysts that the company took advantage of a recent drop in arabica-coffee prices to “lock in” some supplies.
High commodity costs have hurt the company’s grocery business, Alstead said. Retailers are facing “headwinds,” especially from coffee expenses, he said.
To contact the reporter on this story: Marvin G. Perez in New York at firstname.lastname@example.org
To contact the editor responsible for this story: Patrick McKiernan at email@example.com