COFFEE CRISIS - Caribou Coffee admits to HOARDING stock
With a global shortage of between 4-7mn bags of Arabica coffee beans, Caribou Coffee CEO John Butcher has confessed his company is storing as much as they can for their 450 stores.
"My gut tells me to hope for the best and to prepare for the worst. I personally don't see any reason to believe that supply-chain disruptions are going to go away anytime soon. Everybody is in the same boat,” he said.
As Arabica beans hit decade-high prices this week, just imagine how many beans Starbucks and other mass chains are keeping for themselves?
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With a global shortage of between 4-7mn bags of Arabica coffee beans, Caribou Coffee CEO John Butcher has confessed his company is storing as much as they can for their 450 stores.
"My gut tells me to hope for the best and to prepare for the worst. I personally don't see any reason to believe that supply-chain disruptions are going to go away anytime soon. Everybody is in the same boat,” he said.
As Arabica beans hit decade-high prices this week, just imagine how many beans Starbucks and other mass chains are keeping for themselves?
Subscribe to RT @rtintl