Coffee giant Starbucks (SBUX) is no stranger to cross-promotional efforts, and the latest one features Starbucks attempting to piggyback on the release of The Devil Wears Prada 2. The movie will hit theaters May 1, reports note, but viewers can keep the experience alive with a set of themed secret menu items geared toward four of the film’s characters. Investors were less than enthusiastic, though. Shares dropped fractionally in Monday afternoon’s trading.
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There are four such orders available, reports note, starting with Miranda’s Signature Order. This is a “…no foam, extra shot, extra hot caffe latte with non-fat milk.” The reasoning is simple: “because anything less would prompt…questions.” Andy’s Cappuccino is next, featuring a caramel and cinnamon combination to “…walk the line between who she is and who she’s becoming.”
Next up is Nigel and his Go-To Doppio, a Doppio Espresso Con Panna with mocha that serves as a “…bold, refined…” choice. Finally, Emily and her Fave Iced Chai step in to offer “…an Iced Chai Latte with almond milk and caramel: fussy, low sugar, and prepared to be delivered at a glacial pace.” At some locations, the drinks will come with a special surprise, specifically, copies of Runway, the fictional fashion magazine featured in the film.
Court Win
Starbucks also got some good news from a court case, as a woman who sued Starbucks after getting burned by hot coffee found her request for internal information from Starbucks denied. The woman involved claims that Starbucks did not try to resolve the issue quietly through negotiation. She requested information to corroborate this, apparently.
The judge in the case, Los Angeles Superior Court Judge Richard S. Kemalyan, refused to grant access to information relating to “…knowledge of and response to complaints of injuries arising from hot-beverages, including the identification of responsible executives, memoranda, studies and meetings regarding the subject.” The reason, reports note, is that the plaintiff “…did not adequately meet-and-confer before bringing the present motions.”
Is Starbucks Stock a Good Buy?
Turning to Wall Street, analysts have a Moderate Buy consensus rating on SBUX stock based on 14 Buys, 12 Holds, and two Sells assigned in the past three months, as indicated by the graphic below. After a 23.95% rally in its share price over the past year, the average SBUX price target of $101.71 per share implies 2.37% upside potential.
