Starbucks announced on Monday that its classic Pumpkin Spice Latte will be returning to store menus later this month.
The popular drink will be joined by new beverages and food items, as well as limited-time merchandise collections.
While the classic Pumpkin Spice Latte returns on Aug. 25, Starbucks will add new pumpkin spice-flavored drinks, including the Iced Pumpkin Cream Shaken Espresso, Pumpkin Spice Chai and Iced Pumpkin Cream Matcha. The Pumpkin Cream Cold Brew, Iced Pumpkin Cream Chai and Pumpkin Spice Frappuccino blended beverage will also return.
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A new iced banana bread-flavored latte and chai drink will join the company’s fall menu, as will the Chaider – a beverage featuring a blend of chai and cider-inspired flavors.
A new Chicken Bacon Protein Pocket and a Hedgehog Cake Pop will also join store menus this fall. The protein pocket is the latest addition to Starbucks’ broader push to expand its protein offerings.
Starbucks is offering new drinkware and a hat as part of its PSL Society collection.
The announcement comes after the company reported third-quarter results last week.
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Starbucks raised its annual sales and profit forecasts for the second time, as CEO Brian Niccol’s years-long turnaround efforts reignite demand at the world’s largest coffee chain.
Under Niccol, the company has aimed to improve customer experience through a simplified menu and shortened wait times, fueling four straight quarters of comparable sales growth.
“We have more work to do,” Niccol said in a statement on Wednesday, while finance chief Cathy Smith said the company is focused on what it can control amid a “dynamic operating environment.”
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The Seattle-based company forecast global same-store sales growth of near 6%, above its prior forecast of about 5% or above. It expects adjusted earnings per share to be between $2.55 and $2.65, compared with its previous forecast of $2.25 to $2.45.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| SBUX | STARBUCKS CORP. | 103.37 | -1.88 | -1.79% |
“Starbucks has begun to experience market share stabilization in recent months, most notably with younger diners,” Consumer Edge analyst Michael Gunther said.
“Consumers may be shifting dining dollars toward in-home eating but are leaving room in the budget for daily drink habits,” he added.
The “Back to Starbucks” strategy had been squeezing margins, as it involved heavy investments in staffing and store operations, which the company has looked to tackle with cost cuts through layoffs, office consolidation and streamlining its operations.
Reuters contributed to this report.
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