logo
A Look at Starbucks and Its Pumpkin Spice Latte, Which Returns to US Menus Aug. 26

A Look at Starbucks and Its Pumpkin Spice Latte, Which Returns to US Menus Aug. 26

Al Arabiyaa day ago
Want a little autumn in your August? You're in luck. Starbucks said Monday that its Pumpkin Spice Latte will return to store menus in the US and Canada on August 26. The Pumpkin Spice Latte is Starbucks' most popular seasonal beverage, with hundreds of millions sold since the espresso drink's 2003 launch. It's also produced a host of imitations; Dunkin introduced pumpkin-flavored drinks in 2007, while McDonald's brought them to its menu in 2013.
Here's a look at the Pumpkin Spice Latte by the numbers:
– 100: Number of Starbucks stores that sold the Pumpkin Spice Latte during a test run in Vancouver and Washington in 2003. The following year, it launched nationally.
– 79: Number of markets where Starbucks sold the Pumpkin Spice Latte in 2024. The company has stores in 85 markets around the world.
– 36.2 billion: Starbucks' net revenue in its 2024 fiscal year, which ended last September. Starbucks' net revenue was 4.1 billion in 2003 when the Pumpkin Spice Latte first went on sale.
– 33.8 percent: Increase in mentions of pumpkin spice on US menus between the fall of 2014 and the fall of 2024, according to Technomic.
– 4: Number of spices in McCormick's Pumpkin Pie Spice. They are cinnamon, ginger, nutmeg, and allspice.
– 2022: The year Merriam-Webster added pumpkin spice to the dictionary. Less common, it said, is the term pumpkin pie spice.
– 3: The Pumpkin Spice Latte was the third seasonal beverage introduced by Starbucks, after the Eggnog Latte and the Peppermint Mocha.
– Sept. 8: Date the Pumpkin Spice Latte went on sale in 2015. The on-sale date has edged earlier since then.
– 24 percent: Amount foot traffic rose at US Starbucks last year on Aug. 22, the day the Pumpkin Spice Latte went on sale, according to Placer.ai. The company compared traffic that Thursday to the previous eight Thursdays.
– 45.5 percent: Amount foot traffic rose at Starbucks stores in North Dakota on Aug. 22, 2024, the most of any state, according to Placer.ai. Foot traffic in Mississippi rose the least, at 4.8 percent.
Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

GM quarterly profit slumps 35 percent
GM quarterly profit slumps 35 percent

Al Arabiya

time2 hours ago

  • Al Arabiya

GM quarterly profit slumps 35 percent

General Motors' profit declined 35 percent in its second-quarter, but the automaker easily topped expectations and stuck by its full-year financial outlook that it lowered in May. GM CEO Mary Barra also said in a letter to shareholders on Tuesday that the automaker is attempting to greatly reduce our tariff exposure, citing $4 billion of new investment in its US assembly plants. 'In addition to our strong underlying operating performance, we are positioning the business for a profitable long-term future as we adapt to new trade and tax policies and a rapidly evolving tech landscape,' she said. GM said that it's making solid progress in mitigating at least 30 percent of the $4 billion to $5 billion gross tariff impact it anticipates for the year through manufacturing adjustments, targeted cost initiatives, and with pricing. There was a $1.1 billion net impact from tariffs in the second quarter, and GM anticipates a higher net impact in the third quarter because of indirect costs related to tariffs. For the three months ended June 30, GM earned $1.89 billion, or $1.91 per share. A year earlier, the company earned $2.93 billion, or $2.55 per share. Stripping out certain items, earnings were $2.53 per share. That handily beat the $2.34 per share analysts polled by FactSet were calling for. Revenue declined to $47.12 billion from $47.97 billion but still topped Wall Street's estimate of $45.84 billion. Shares declined more than 3 percent before the opening bell Tuesday. EV sales totaled 46,300 in the second quarter, up from 31,900 in the first quarter. Yet overall in the US, EV sales growth has begun to slow. The $7,500 EV tax credit under the Inflation Reduction Act is set to expire in September for many models. 'Despite slower EV industry growth, we believe the long-term future is profitable electric vehicle production, and this continues to be our north star,' she wrote. 'As we adjust to changing demand, we will prioritize our customers, brands, and a flexible manufacturing footprint and leverage our domestic battery investments and other profit-improvement plans.' The company maintained its full-year financial forecast. In May, General Motors lowered its profit expectations for the year as the carmaker braced for a potential impact from auto tariffs as high as $5 billion in 2025. The Detroit automaker said at the time that it anticipated full-year adjusted earnings before interest and taxes in a range of $10 billion to $12.5 billion. The guidance includes a current tariff exposure of $4 billion to $5 billion. A month later, GM announced plans to invest $4 billion to shift some production from Mexico to US manufacturing plants. The company said at the time that the investment would be made over the next two years and was for its gas and electric vehicles. President Donald Trump signed executive orders in April to relax some of his 25 percent tariffs on automobiles and auto parts, a significant reversal as the import taxes threatened to hurt domestic manufacturers. Automakers and independent analyses have indicated that the tariffs could raise prices, reduce sales, and make US production less competitive worldwide. Trump portrayed the changes as a bridge toward automakers moving more production into the United States. The tariffs ordered by Trump are hitting the entire auto sector, which sends vehicles and parts across the northern and southern borders of the US repeatedly as they are assembled. The Center for Automotive Research says that a uniform 25 percent tariff on all trading partners would have an increased cost of $107.7 billion to all US automakers and an increased cost of $41.9 billion for the Big Three automakers in Detroit: Stellantis, GM, and Ford. GM reported its financial results a day after Jeep maker Stellantis said that its preliminary estimates show a 2.3 billion euros ($2.68 billion) net loss in the first half of the year due to US tariffs and some hefty charges. Stellantis will release its financial results for the first half of the year on July 29.

Coca-Cola reports weakening global sales volumes in second quarter
Coca-Cola reports weakening global sales volumes in second quarter

Al Arabiya

time2 hours ago

  • Al Arabiya

Coca-Cola reports weakening global sales volumes in second quarter

Coca-Cola reported better-than-expected earnings in the second quarter as higher prices offset weaker sales volumes. Case volumes fell 1 percent globally and 1 percent in North America, but Coke said Tuesday that pricing rose 6 percent for the April-June period. Revenue for the Atlanta company rose 1 percent to 12.5 billion. Adjusted for one-time items, quarterly revenue was 12.6 billion. That was in line with Wall Street's forecast, according to analysts polled by FactSet. Net income jumped 58 percent to 3.8 billion. Its adjusted net income was 87 cents, which was higher than the 83 cents Wall Street forecast. Coke said Tuesday it now expects full-year adjusted earnings to grow 8 percent. At the start of the year, Coke had expected earnings to grow 8 percent to 10 percent, but in April it lowered that range to 7 percent to 9 percent. Coke earned 2.88 per share in 2024. Shares of Coca-Cola Co. were down slightly early Tuesday, as were all major US markets.

New York mayoral frontrunner Mamdani leaves business leaders divided on opposition strategy
New York mayoral frontrunner Mamdani leaves business leaders divided on opposition strategy

Arab News

time3 hours ago

  • Arab News

New York mayoral frontrunner Mamdani leaves business leaders divided on opposition strategy

NEW YORK: The business community in New York City is scrambling to figure out who to support in November's mayoral race, with many leaders saying either Andrew Cuomo or Mayor Eric Adams needs to drop out for the other to have a chance against surprise Democratic primary winner Zohran Mamdani. Following Cuomo's announcement that he would stay in the race as an independent after losing to Mamdani, New York-based CEOs have yet to coalesce behind either the former governor or incumbent Adams in their bid to defeat Mamdani, a Democratic socialist who won the primary in June. Several business leaders who would only speak under the condition of anonymity said they would support Cuomo, while others were backing Adams, a former police captain who was elected mayor as a Democrat in 2021 but this year decided to run as an independent, as less sure of the former governor's chances. Many leaders are taking a wait-and-see approach — though others believe that could be a bad move, keeping another candidate from gaining momentum. Mamdani won the June 24 primary with 56 percent of the vote, bolstered by young voters drawn to his social media presence and messaging focused on solving the city's affordability crisis. Polling suggests he would prevail over a fractured field of Cuomo, Adams and Republican candidate Curtis Sliwa, but some polls suggest Cuomo would win a head-to-head matchup against Mamdani in heavily Democratic New York. Business owners are concerned that Mamdani's proposals, which include rent freezes, free city buses and city-owned grocery stores, would add to residents' tax burden and cause an exodus of capital. Mamdani says his plans, which also include free childcare, would be paid for by raising corporate taxes and imposing an additional 2 percent income tax on New Yorkers earning more than $1 million a year. 'I can only vote for one candidate in November, and that decision won't be made until closer to Election Day,' said Jared Epstein, president of real-estate owner and developer Aurora Capital Associates, in an email. 'Until then, like nearly every one of the 20,000 contacts in my phone, my position is simple: ABZ – 'Anyone But Zohran.'' Mamdani has raised about $820,000 since the primary through July 21, according to the city's campaign finance board. Few prominent business leaders have publicly come out in support of Mamdani, who has received endorsements from unions that previously backed Cuomo. In recent days, Mamdani met with executives in a meeting organized by the nonprofit Partnership for New York City. 'He did a pretty good job of making the case that he was open to conversations, discussion and learning, and that he wanted to build a coalition that would represent all New Yorkers,' said Kathy Wylde, president and chief executive officer of the group. Cuomo has said he would drop out by September if he isn't the clear favorite and has urged others to do the same, though by state law his name would remain on the ballot. He has raised just $64,000 since June 10. Adams has raised roughly $1.5 million since June 10. Maria and Kenneth Fishel, who own luxury real estate company Renaissance Properties, hosted a fundraiser for Adams in Long Island's Hamptons over the 4th of July weekend. Adams has also received support on social media from hedge-fund managers Bill Ackman and Daniel Loeb. He has been endorsed by 13 police unions. Hedge fund manager Whitney Tilson, who ran in this year's Democratic mayoral primary, receiving just 0.8 percent of the vote, said in an email that once the election is one month away, 'it will hopefully be clear who's better positioned to beat Mamdani and ONLY THEN should the other guy drop.' Neither Cuomo nor Mamdani's campaigns responded to a request for comment. Todd Shapiro, spokesperson for Adams, said Adams made New York stronger after the pandemic and will continue to deliver results for the business community in New York. Sliwa, who is polling behind both Mamdani and Cuomo, said he is not planning on dropping out; Sliwa, as the Republican candidate in the 2021 mayoral general election won 27.8 percent of the vote.

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into a world of global content with local flavor? Download Daily8 app today from your preferred app store and start exploring.
app-storeplay-store