Starbucks on Tuesday reported a 31% increase in profits during the final three months of 2021, but the massive Seattle-based coffee chain nevertheless announced plans to further raise its prices this year.
Starbucks' revenue grew to $8.1 billion at the tail-end of 2021, a 19% jump compared to the previous year.
Starbucks CEO Kevin Johnson saw his compensation soar by 39% to $20.4 million in 2021.
Starbucks employees are increasingly fighting back against their low wages and poor working conditions by launching union drives.
Historian Andy Lewis argued that Starbucks' explanation for the impending price increases amounts to nothing more than "word salad to hide corporate greed."
Starbucks Profits Soar by 31%—But It's Raising Prices Anyway (commondreams.org)
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