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        <title><![CDATA[Starbucks pumpkin spice sales hit record high after early launch]]></title>
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            <media:title type="html">Starbucks pumpkin spice sales hit record high after early launch</media:title>
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						<p>Starbucks is staging a fall comeback from the coronavirus &#8212; and it&#8217;s pumpkin-flavored.</p>
<p>Sales of Starbucks&#8217; trendy pumpkin beverages hit a new high in the last quarter after the coffee giant started brewing them earlier than ever.</p>
<p>The Seattle-based chain moved a record number of average daily units of drinks in its pumpkin portfolio, which went on sale in late August, CEO Kevin Johnson <strong>said</strong> Thursday. The boom was led by the <strong>&#8220;Pumpkin Cream Cold Brew,&#8221;</strong> which outsold the iconic Pumpkin Spice Latte in only its second year on the market, he said.</p>
<p>Starbucks didn&#8217;t provide more specifics about pumpkin spice sales in its Thursday <strong>earnings report</strong> for the July-to-September quarter. But Johnson said the drinks were a &#8220;catalyst&#8221; for its stronger-than-expected recovery from the coronavirus pandemic, which forced it to shutter many cafes earlier in the year.</p>
<p>The chain&#8217;s comparable sales dropped 9 percent compared to the prior-year quarter, beating Wall Street <strong>estimates</strong> for a 12.1 percent drop as customers spent about 11 percent more on the average order.</p>
<p>Comparable sales at Starbucks&#8217; more than 15,000 US stores were only off 4 percent in September, improving from an 11 percent drop in August in the first full month of pumpkin spice season, Johnson said.</p>
<p>Chief operating officer Roz Brewer also attributed the bump to adjustments the company made in response to consumers&#8217; changing behavior amid the pandemic, such as streamlining drive-through service. Stores are seeing more customers arrive later in the morning as they tweak their daily routines, she said.</p>
<p>&#8220;As the customer was adjusting, we were adjusting along with them,&#8221; Brewer said on a conference call with investors.</p>
<p>Despite the rebound, Starbucks&#8217; net profits for the quarter fell about 51 percent to $392.6 million. The company&#8217;s stock price was down 1.8 percent at $86.70 as of 10:29 a.m. Friday.</p>
<p><em>With Post wires</em></p>
			
					
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                <dc:creator><![CDATA[GAGmen]]></dc:creator>
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