Starbucks adds new holiday drinks, offers 2-for-1 deal

Starbucks is kicking off its holiday season by offering two drinks for the price of one. From Thursday through Monday, customers who buy one holiday beverage get a second one free. The offer is valid only from 2-5 p.m. Two new holiday drinks have been added to the Starbucks menu this year, including a toasted white chocolate mocha and a chestnut praline chai tea latte. The Seattle-based beverage giant says the buy one, get one free offer is part of its "Give Good" campaign and encourages customers to share their extra drink with someone. It has used the event to launch its holiday offerings for several years.

The offer comes on the heels of a lackluster fiscal fourth quarter, which ended Oct. 1, when revenue missed analysts' expectations. Despite trotting out long-time favorites such as fall's pumpkin spice latte and designing new drinks such as the unicorn Frappuccino, the chain is struggling with decaffeinated demand. This year's string of Gulf Coast hurricanes has caused some locations to close, adding another lump in Starbucks' stocking. Shares of Starbucks could use some holiday goodwill. The stock is down almost 6 percent during the past six months, while the S&P 500 has climbed 6 percent during the same time period. The lower-than-expected sales at Starbucks comes after the company revamped its loyalty program, a change that was unwelcome among fans. The company is also fending off competition from smaller chains that appeal to younger consumers, as well as Dunkin' Donuts, whose parent company Dunkin Brands Group (DNKN) is focusing more on coffee and less on doughnuts. So far, reaction on social media to the two-for-one offer appears positive, with consumers tweeting about their plans to claim the promotion. The company is adding two new holiday drinks to its lineup this year: a toasted white chocolate mocha and a chestnut praline chai tea latte. Other holiday drinks include its holiday spice flat white, a gingerbread latte, a caramel brûlée latte and eggnog latte and a peppermint mocha.