Starbucks sees card record

Investor's Business Daily

The coffeehouse giant expects record purchases and activations of its gift cards in coming days as schools and businesses prepare to break for the Christmas holiday. Starbucks (SBUX) said it typically sees a huge run-up in card activity on the last Thu. before Christmas. Last year, more than 1,500 Starbucks Cards were purchased in the U.S. and Canada on the Thu. before Christmas. About 10% of U.S. adults received a Starbucks Card last holiday season. The National Retail Federation says that 8 in 10 shoppers will purchase a gift card this holiday season. Shares fell 0.5% to 76.09.

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