Responding to Competition, Starbucks Lowering Some Drink Prices

"As it reported a 77 percent drop in quarterly profit, [Starbucks] on Wednesday also said it will adjust its pricing in some markets, raising prices of some of the more complicated drinks, while lowering those on basic drinks. For example, Starbucks will offer a 'grande' size iced coffee for less than $2, shaving as much as 45 cents off the price, depending on the market." [Wall Street Journal]