The pumpkin spice latte fuels Starbucks sales
Marketplace All-in-One
Marketplace
4.5 • 1.4K Ratings
🗓️ 2 November 2023
⏱️ 1 minutes
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Summary
The seasonal favorite helped power record quarterly revenues at Starbucks; worker productivity improves at best pace in three years; initial unemployment claims inch up to 217,000.
Transcript
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| 0:17.6 | At Starbucks, pumpkin spice is everything nice. |
| 0:21.2 | I'm Novasava with Marketplace Minute. |
| 0:23.6 | The pumpkin spice latte, a seasonal offering, |
| 0:26.0 | helped give the chain's revenues a pick me up |
| 0:28.4 | to a quarterly record, in fact. |
| 0:30.4 | The coffee maker also opened hundreds of new stores, |
| 0:33.2 | profits jumped 40% to more than $1 billion. |
| 0:37.0 | The Labor Department says work or productivity has improved |
| 0:39.6 | that it's best pace in three years, 4.7% in the third quarter. |
| 0:44.5 | Federal Reserve officials are watching this |
| 0:46.4 | because improved productivity helps reduce labor costs, |
| 0:50.0 | which in turn could suppress inflation. |
| 0:52.4 | At the same time, the labor market remains resilient |
| 0:55.0 | with layoffs still below the pre-pandemic average. |
| 0:57.6 | Initial claims for unemployment benefits |
| 0:59.4 | last week rose by just $5,000 to a total of 217,000. |
... |
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