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Interesting...my local starbucks actually just took over a store next door and expanded to twice its original size.
Honestly...this report is not really of any significance. Them scaling back growth estimates by 2%, but still expecting a small growth is hardly note-worthy. Business fluctuates regularly from quarter to quarter. This is far from the end for Starbucks.
Interesting...my local starbucks actually just took over a store next door and expanded to twice its original size.
Honestly...this report is not really of any significance. Them scaling back growth estimates by 2%, but still expecting a small growth is hardly note-worthy. Business fluctuates regularly from quarter to quarter. This is far from the end for Starbucks.
One thing that should be said is that they are competing with more coffee shops now... Little Collins, Blue Bottle, Ninth Street Espresso, Joe Coffee, Kaffe 1668, and FIKA are just some of the places I go to for coffee.
Interesting...my local starbucks actually just took over a store next door and expanded to twice its original size.
Honestly...this report is not really of any significance. Them scaling back growth estimates by 2%, but still expecting a small growth is hardly note-worthy. Business fluctuates regularly from quarter to quarter. This is far from the end for Starbucks.
Larger stores may be a solution to some of their growing pains.
If you know your customer is willing to walk a block or two further you can condense and offer a better experience.
The whole market today is very "the sky is falling".
SBUX is very aggressive as far as it'e real estate operations go. They have no problem walking away from locations if the LL tries to stick it to them. They walked away from their first NYC store on Broadway & 86th, and that store was always busy. They did the same thing on 81st and 2nd, and opened another store one block south. They'll just look for another LL in the same area who's willing to make a deal.
Quote:
Originally Posted by BugsyPal
At least three SBs have closed on UES, and two of the spaces were promptly rented to new tenants. Third (78th and Lexington) was in a building that is part of nearly an entire block that is coming down for redevelopment.
SB has been closing stores, and or reopening elsewhere for a few years now as leases come up for renewal.
Starbucks first "invaded" NYC nearly almost twenty years or so (give or take). As such many of those leases are (or were) coming up for renewal. Well NYC in particular Manhattan is much different today than it was twenty years ago. Retail rents have gone up and that goes for SB as well. They either must pay what LL want's or sling their hook and close.
If you've noticed SB's new stores on average aren't those huge lounges of past. But smaller spaces often with limited seating space.
SB has also stopped having two stores literally a block away from each other for most part as well. There once were two Starbucks at Astor Place (one across from K-mart, and the other on Third). When the latter was pushed out because that property was being redeveloped, SB didn't bother trying to open another.
I hope they're going down, their prices are absurd. Honestly though, most coffee places are.
I disagree, I drink a lot of coffee and starbucks coffee is just medium quality to me. But, just about every other new coffee places that sells coffee around the same price aren't consistent. Almost every street corner food cart coffee is too weak and many serve stale coffee. Just like Korean deli coffee which used to be the official "NY coffee" place before Starbucks.
Dunkin Donuts and McDonalds coffee is a waste of money because even you buy a large cup. There is so little caffeine inside it's weaker than black teas. Their ice coffees are usually loaded with sugar and no coffee tastes at all. Waste of money.
Now there are some nice cafes around the city but they actually cost more than Starbucks. Starbucks espresso are actually very high quality and decently priced compared to many overpriced cafes around the city.
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