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Haha. It's really their own fault. The market is oversaturated with their product -- and when you charge a bajillion dollars for a cup of mediocre coffee in an economy where people have to put out more expenses for food and transportation, it's completely logical that people would patronize them less.
Anyway, I think having a balance between corporate behemoths like Starbucks and independent, smaller business is important, and this will hopefully rectify that.
Yeah, I read that a couple days ago. I read that most of the stores closing are those within supermarkets and ran by airport vendors, and in bookstores like Barnes and Noble. Some 200 or so will be closing that are "stand-alone" stores. Which, will in fact, affect many cities/towns. No Starbucks! OH NO!! lol
Annapolis (Parole area, which is the commercial district) has a plaza with a Starbucks and a Barns & Noble with a Starbucks inside of it. I'd say they are not even a football field apart.
Coordinates:
38°58'31.44"N
76°32'40.24"W
In response to OP and Bridgeport: Starbucks primarily caters to White and Asian customers. Bridgeport is approximately 25% White and that population is likely to fall.
In terms of income (2010 census data, I know) Bridgeport has a per capita income of $16,306 (which includes children and elderly and those who are not earning). Compare that to the statewide per capita income of $46,775. Granted Connecticut has a lot of high income people, and using a median would be a better statistic, but still, 16k is low. For those working, in Bridgeport males had a median income of 32k and 26k for females, not exactly Starbucks territory.
My biggest decision each morning in Richland, Washington is to get my Starbucks at their location in the Washington Plaza strip mall, or their location at Safeway just 100 yards to the north, also in the Washington Plaza strip mall. It all depends on where my parking space availability is.
One of the reasons that some of the stores are closing is due to the fact that many freeloaders have been giving a free pass to hang out at their stores for as long as they want without a purchase! IMO a ridiculous and unheard of policy that might be a cause of a recent stock drop. Some people also boycott SB due to their political mingling and views.
Freeloading is more of a problem in inner city stores where they get trashed and get filled with such freeloaders. This Facebook page shows it well: https://www.facebook.com/groups/326179184576376/
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