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Old 07-01-2008, 04:18 PM
 
Location: In my view finder.....
8,521 posts, read 14,348,596 times
Reputation: 8079

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I'm not surprised


LOS ANGELES (Reuters) - Starbucks Corp (SBUX.O) said on Tuesday it plans to close another 500 underperforming stores and eliminate as many as 12,000 full- and part-time positions, lifting shares nearly 6 percent.


The company, which now plans to close a total of 600 underperforming stores versus its previous estimate of 100, said the majority of the stores will be closed by the end of March 2009.

Continue.........

http://news.yahoo.com/s/nm/20080701/bs_nm/starbucks_dc (broken link)
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Old 07-01-2008, 04:42 PM
 
Location: Charlotte, NC (in my mind)
7,946 posts, read 15,402,274 times
Reputation: 4544
Sad, one of the hallmarks of this decade can't even withstand the current economy. I know I haven't been to Starbucks since gas hit $4/gallon. Neverthless, Starbucks went into many markets that were NOT Starbucks markets. It repeated the mistake of Krispy Kreme. A brand like that loses its specialty when its in every hick town and every gas station in the US.
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Old 07-01-2008, 04:46 PM
 
5,090 posts, read 10,043,741 times
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Quote:
Originally Posted by bchris02 View Post
Sad, one of the hallmarks of this decade can't even withstand the current economy.
I am thinking Stucky's and Edsels. Now there were some real losses, too.

ohhh. And Disco, too.
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Old 07-01-2008, 04:46 PM
 
Location: southern california
57,904 posts, read 76,870,822 times
Reputation: 51255
aggressive panhandling, and hard core drug addicts in withdraw are regularly present at local starbucks. im ready to move on, how bout you?
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Old 07-01-2008, 06:24 PM
 
26,662 posts, read 40,639,785 times
Reputation: 14765
I'm not surprised...if I go to Panera I pay $ 1.99 for a hot chocolate (big cup), at Star bucks I pay over $ 3.00 for the smallest size and the one at Panera is much better.
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Old 07-01-2008, 08:07 PM
 
Location: Fort Myers Fl
2,305 posts, read 2,751,218 times
Reputation: 917
Starbucks was a prime example of Americans living beyond there means. Spending that kind of money for a cup of coffee never made much sense to me. Many people recomended that stock to me and I was never interested.
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Old 07-01-2008, 08:18 PM
 
2,482 posts, read 8,159,641 times
Reputation: 1944
Bad marketing strategy. Oh well. Too bad so sad.
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Old 07-01-2008, 08:19 PM
 
955 posts, read 1,985,032 times
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Quote:
Originally Posted by bentlebee View Post
I'm not surprised...if I go to Panera I pay $ 1.99 for a hot chocolate (big cup), at Star bucks I pay over $ 3.00 for the smallest size and the one at Panera is much better.
My buddies and I go to McD's for morning coffee. Fifty-two cents a cup and free refills (we are all over fifty) and we solve the world's problems too.
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Old 07-01-2008, 08:32 PM
 
2,779 posts, read 6,921,817 times
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You know, I'm a Peet's snob, and McD's coffee is actually pretty good. Good business move!
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Old 07-01-2008, 08:34 PM
 
Location: Charlotte, NC (in my mind)
7,946 posts, read 15,402,274 times
Reputation: 4544
Quote:
Originally Posted by thebigr View Post
Starbucks was a prime example of Americans living beyond there means. Spending that kind of money for a cup of coffee never made much sense to me. Many people recomended that stock to me and I was never interested.
I don't even like to burn the gas to get to Starbucks these days. I don't drive anywhere thats not ABSOLUTELY necessary. Ill put off getting groceries so I can consolidate it with something else I have to do. Starbucks was an icon of this materialistic decade along with iPhones and the Hummer. I sort of wish it could have lasted a bit longer.
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