Coffee by day, beer by night. The wicked combination of liquids is no longer just a dietary plan followed by journalists, it's also the new business model for the king of coffee, Starbucks. The company announced in early December that it would be introducing an evening-menu concept, along with beer and wine, to select locations in Seattle and Portland, Ore.
Starbucks will be extending its beer and wine offerings to even more markets, launching stores in Atlanta, Southern California and Chicago by the end of 2012.
Building an evening day-part is a natural progression for us as we are always looking for ways to evolve and enhance the Starbucks experience based on what our customers are telling us, said Clarice Turner, senior vice president of the company's U.S. operations. We're pleased with the response of our customers to the introduction of wine, beer and premium food at several of our stores in the Pacific Northwest, and we're excited to see how the idea translates to other markets.
In addition to beer and wine, the selected locations will also be offering premium food including snacks, small plates and hot flatbreads. The selected stores also will try to provide room for small groups and larger parties that would like to use the locations to host community events.
Over the past year, Starbucks has traded in a range of $30.75 to $48.39, according to the Financial News Network. Shares are currently trading at $47.22. The Wall Street Journal points out that Starbucks has been shifting toward more of a consumer-products company rather than a predominantly retail shop.