Starbucks CEO Confirms Pumpkin Spice Latte Will Remain a Seasonal Offering
Starbucks CEO Brian Niccol confirmed that the pumpkin spice latte (PSL) will remain a seasonal beverage rather than being available year-round. He emphasized its role as an iconic fall drink, helping to kick off Starbucks' holiday season sales cycle. The PSL has been part of Starbucks’ menu since 2003 and is one of its most popular offerings. Starbucks recently reported strong financial results for the quarter, with global comparable-store sales rising by 7.9%, exceeding expectations. Adjusted earnings were $0.85 per share versus forecasts of $0.66. The company also improved operating margins to 14.4% from 10.1%. Starbucks raised its full-year guidance, citing momentum into the fourth quarter driven in part by new beverage releases and anticipation for the PSL return. The stock is approaching a record high seen in July 2021, with analysts like Bernstein’s Danilo Gargiulo expressing optimism about continued sales growth.
Tickers: $SBUX
Topics: CEO Commentary PSL (Pumpkin Spice Latte) Seasonal Products Starbucks