Where’s my frappuccino? Coffee futures in New York climbed to the highest since 1997 on worries about crops in top growers, threatening to further raise costs for roasters and consumers. Arabica, the high-end variety favored for specialty brews, rose as much as 3% on Monday. Coffee prices have soared this year due to major supply disruptions in key producers from Brazil to Vietnam, with the more budget-friendly robusta type that’s used in instant drinks recently hitting the highest since the 1970s. Read more from Bloomberg. A subscription may be required.
Expansion plans: Spanish retailer Mango is embarking on a bold expansion plan in the U.S. as it looks to shed its fast-fashion image and position itself as a premium brand. The privately held company, based in Barcelona, plans to open 42 new storefronts in the U.S. by the end of the year and aims to launch 20 more in 2025, primarily in the Sun Belt and Northeast. Read more from CNBC.
Expanding horizons: Wall Street investors like Goldman Sachs are using new ways to monitor shoppers’ actions and intentions to help determine the retail season’s winners and losers. Investors are looking past traditional data like earnings reports and company filings and are tapping into the quickly evolving field of “alternative data” to help them predict retailer performance and provide an advantage over other investors. Read more from Reuters.
