For the record, this price is not for a plate of waffles, but for one waffle. A single, blueberry waffle (perhaps looking quite a bit like this waffle, which is labeled as caramel, for $2.50. Yes, $2.50. Call me cheap (it won't be the first time, or the last), but that seems like a lot of money for one waffle -- especially considering that a box of 10 frozen waffles is roughly $5. Consider this, McDonald's (MCD) charges a dollar for a sausage McMuffin (sausage and cheese on an English muffin). My guess is that the MCD's offering is a bit more filling than what appears to be a cookie masquerading as a waffle.
This decision is one example of why I have found it nearly impossible to be bullish toward SBUX. Yes, the stock performs well, but the company makes some questionable decisions -- especially in regards to price. The company charges far too much for its coffee and eats, and I am sure that this practice costs the company customers.
That said, there is a rabid SBUX following out there and these coffeeheads have to have their venti frappasmoothies with whipped cream. I won't lie, I have an occasional java from Schultzie's crew, but it is a special little treat -- not a daily happening. The company is lucky that there are some people with money to waste on overpriced coffee drinks, because this is the only reason the company continues to do business.