Starbucks stock rises toward 2nd record this month, 8th record this year

Tomi Kilgore - finance.yahoo.com Posted 5 years ago

Shares of Starbucks Corp. rose 0.6% in morning trade, pairing earlier gains of as much as 1.4%, but that was still enough to put them on track for a second record close this month, and eighth record this year. The coffee seller announced earlier that it had entered into a $2 billion accelerated stock repurchase agreement, as well as a new effort to revamp its customer experience. That announcement comes a day after Starbucks announced a new tiered loyalty rewards program. Starbucks shares have rallied 11.5% year to date, while the SPDR Consumer Discretionary Select Sector ETF has climbed 13.2% and the S&P 500 has advanced 12.7%.

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