Starbucks Corp. (SBUX) Chief Executive Howard Schultz said in a Fox Business Network interview that the company would prefer "a more normalized" coffee price, but said costs "at this stage will have no effect" on the company's ability to maintain its financial guidance.

Mr. Schultz said "we can manage this." He said the company has "more than one year's worth of protection on inventory and contracts."

The chain has no plan at this time to raise prices, Mr. Schultz told Fox Business.

Website: www.foxbusiness.com

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