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Schultz said the new machine was part of "a broad-based, long-term strategy" that began about three years ago when the company entered the $8 billion dollar single-serve coffee industry. Starbucks has a three-pronged strategy: Via Ready Brew is intended for those who don't want to buy a coffee machine; K-cups are for those who want a basic brewed coffee and Verismo will be for more sophisticated coffee drinkers. Schultz has said in the past that Starbucks' packaged-goods business could one day rival its cafe business. Starbucks stock, which had traded between $33.72 and $49.52 the past year, rose 88 cents in regular trading to close at a new 52-week high of $50.37.
[Associated
Press;
Copyright 2012 The Associated
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