Starbucks Not Planning To Launch Cannabis-drinks
coffee giant Starbucks Corp. is not planning to offer cannabis-infused drinks anytime soon, CNBC reports.
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Despite several coffee shops across the U.S. coasts advertising coffee drinks with CBD oil, Starbucks CEO Kevin Johnson has said that the company does not plan on launching its own version of the cannabis-infused drink.
"We're going to keep watching this, but right now, it's not on the road map," Johnson said Friday on CNBC's "Squawk on the Street."
Johnson said that the company is going to keep focusing on its other innovations, like its Nitro Cold Brew. The company credited its iced beverages, including its nitro drinks, with boosting sales for the quarter that ended December 30.
On Thursday, the world's largest specialty coffee retailer reported a first-quarter profit and revenues that trumped Wall Street estimates, driven largely by growth across Americas, Asia Pacific and China.
Seattle, Washington-based Starbucks' revenues grew 9.2 percent to $6.63 billion from $6.07 billion last year. Global comparable store sales increased 4 percent, including a 4 percent increase in the Americas and US and a 3 percent increase in the Central Asia Pacific and 1 percent in China. (dpa)
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