A record label. A new logo. New coffee. Vitamin boosts. Even the not-so-secret new Italian-style drink (the Sobretto) are not enough to keep the momentum going on America’s premiere supplier of bean juice.
Starbucks Coffee announced it will be closing 600 stores in the US, and will only be opening less than 200 new stores in 2009. Gasp! Does this have anything to do with the fact that there are about 5 Starbucks either on or a block away from the 3rd Street Promenade?
Say it with me, folks: O-V-E-R-S-A-T-U-R-A-T-I-O-N. It can happen to you. Talk to your doctor about CommonSenseItolâ¢.
If we look at the numbers, 12,000 full and part-time employees will be affected by this downturn.
Quote BusinessWire:
The stores identified for closure are spread across all major U.S. markets with approximately 70 percent of them opened since the beginning of fiscal 2006.
Think of the number of new ‘Bucks since 2006! Did no one see this coming? There are places where they have 2 Starbucks on a single block, FFS!
Well, if you’ve got too much free time, watch the stores disappear in real time. Speculation is still going strong as to whether any of the closing Starbucks will be replaced with a Starbucks.
Story via EaterLA, photo by Seth W.
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1 alexandra // Jul 2, 2008 at 12:12 pm
Why starbucks is our friend:
Starbucks — whose greatest positive contribution to our country was its offering of quality jobs with full benefits and respectable wages — is laying off 12,000 employees.
In reaction to the news:
“Shares in Starbucks rose as high as $16.53 in after-hours trading Tuesday after closing at $15.62. They have fallen about 24 percent this year.
” [NY Times]
God Bless!
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