Starbucks introduces afternoon drink promotion

SAN FRANCISCO Tue Aug 5, 2008 11:50am EDT

SAN FRANCISCO Aug 5 (Reuters) - Starbucks Corp (SBUX.O) began a U.S. promotion on Tuesday, offering $2 cold drinks in the afternoon to people who bring in the receipt from the purchase of their morning coffee fix.

The promotion, which applies to "grande" or medium-sized drinks purchased after 2 p.m., will run through Sept 2 and comes as the company is working to drive afternoon traffic and revive overall growth at its U.S. stores.

In San Francisco the promotion would save a customer about $1.50 on an Iced Caffe Latte. It would also take $2.15 off a Mint Chocolaty Chip Frappuccino.

Starbucks, which posted its first-ever net loss on charges in the most recent quarter, said the "Treat Receipt" promotion is a response to consumer requests for nationwide promotions. (Reporting by Lisa Baertlein; Editing by Derek Caney)