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Thread: Finally got my tickets!
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02-02-08, 05:59 PM #2
Starbucks' sales down; 100 stores being closed
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The coffee isn't tasting too sweet at Starbucks at the moment.
Recently coming bottom in an independent UK taste test of the main coffee chains, the US giant has seen its sales fall in its main home market for the second quarter in succession.
With its share price also having declined more than 40% over the past year, the Seattle company's founder, Howard Schultz, returned to the chief executive role last month to try to turn around the firm's fortunes.
While Starbucks is undoubtedly being hit by the wider slowdown in consumer spending in the US, analysts say the problems at the company run much deeper.
Mr. Schultz also announced that his company would close 100 underperforming locations in the United States while scaling back the rate of store openings domestically. At the same time, Starbucks will move more aggressively to open stores overseas, where business remains robust. He did not identify the locations that will be closed.
I've never understood the popularity of Starbucks when you can go to places like McDonalds and get five cups for the same price or make your own for less than 25¢.
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02-02-08, 06:08 PM #3
Starbucks' sales down; 100 stores being closed
Starbucks is increasingly popular here. All the major cities have several stores now.
The one I go to, in Leeds city centre, is a really large, very neat and tidy store. The guys that make the drinks aren't drones either, which is good.
It's expensive yes, but nice for a change.
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