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Complete article from CNN Money
Have you noticed that Starbucks’ stock has popped up from its seven-year low? Last Monday the shares were trading below $10. Then they got a boost last Wednesday when CEO Howard Schultz noted that he saw a slight upturn in store traffic in October. The stock has outperformed the broader market rally and is now trading just below $13.
Another reason for the nascent recovery: A Starbucks promotion at Costco — five $20 Starbucks cards for $79.95 — is outperforming expectations. “We believe it’s the best-selling product at Costco,” Schultz told me when I sat down with him at Starbucks’ Leadership conference for its managers in New Orleans last Wednesday.
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