Starbucks : has locked prices on 'well over' 90 percent of 2016 coffee

SAN FRANCISCO (Reuters) - Starbucks Corp has locked in prices on more than 90 percent of its coffee needs for 2016, Chief Financial Officer Scott Maw said in a telephone interview after the company announced earnings on Thursday.

"We’re well over 90 percent for ’16," Maw said. "We have started to price a reasonable amount of coffee for 2017.”

(Reporting by Peter Henderson, editing by G Crosse)