Cold beverage demand is high at Starbucks, accounting for 75% of the company's beverage sales in the U.S.
In the Aug. 2 earnings call, company founder Howard D. Schultz said the company single-handedly created the market for customized cold coffee beverages, and customers are creating their own customized beverages and sharing them on social media.
Shaken iced espresso drinks introduced last year have more than doubled since that time, and they are also taking off in China, Schultz said, adding that the opportunity represented by cold coffee is enormous.
Starbucks’ net revenue was $8.2 billion, up 8.7% year-over-year.
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