Starbucks Corporation (NASDAQ: SBUX) just reported its fiscal fourth quarter that topped estimates due to the fact that even when being pressured by inflation, its U.S. customers continue to splurge on custom and indulgent coffee drinks. Starbucks joined the trend McDonald’s Corporation (NYSE: MCD) and Chipotle Mexican Grill Inc (NYSE: CMG) revealed last week with their quarterly reports, showing that even during challenging economic times, consumers find a way to budget in affordable indulgences. But Starbucks could also thank social media platforms such as TikTok and Meta Platforms (NASDAQ: META)-owned Instagram for the hype for custom drinks as even though this was always offered by the coffee giant, social media is to thank for such recipes and flavors going viral.
Quarterly Highlights
For its fiscal fourth ...