Starbucks CEO rejects reports of lacks in cups and coffee

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Starbucks CEO denies reports of shortages in cups and coffee

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Starbucks CEO Kevin Johnson on Thursday rejected reports that the coffee business is running low on crucial materials, informing CNBC it has enough cups and coffee to serve clients.

There is “no shortage of cups, no shortage of coffee,” Johnson stated in an interview with Jim Cramer set to air on “Mad Money.”

Johnson was reacting to earlier reports — consisting of one from The Wall Street Journal — that stated some Starbucks shops were brief on cups and coffee syrups, to name a few things, as traffic at Starbucks rebounds from in 2015’s downturn. The post mentioned details from some shop employees and an unnamed spokesperson who stated choose markets were being hindered by the lacks.

To make certain, Johnson stated Starbucks continues to deal with functional difficulties in other places that are evaluating the resiliency of the business’s supply chain.

“We’ve had some shortages in the bakery case, that certainly is true,” he stated. “If there’s one area we’ve been focused on it’s our supply partners who assemble breakfast sandwiches and some of the food items in our bakery case. That’s where we’ve seen some pressure.”

Starbucks shares moved 0.39% greater Thursday to close at $111.99. The stock is up less than 5% year to date.