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Starbucks CEO says new coffee has bumped up sales

LOS ANGELES
Wed Apr 30, 2008 5:17pm EDT

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LOS ANGELES (Reuters) - Starbucks Corp (SBUX.O) Chief Executive said on Wednesday he has seen an "incremental bump in sales" from its new Pike Place daily coffee, but that a single product is not a "silver bullet" to fix slowing U.S. growth.

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"It's helped traffic but the burden that we're under is significant," said CEO Howard Schultz, who is charged with turning around the coffee seller's U.S. business, which is hampered by a weak economy, a housing downturn and increasing competition.

Pike Place was released in early April.

(Reporting by Lisa Baertlein, editing by Phil Berlowitz)
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