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Sign of Economic Apocalypse #6 - Starbucks closing 600 shops

Discussion in 'Sports and News' started by DanOregon, Jul 1, 2008.

  1. DanOregon

    DanOregon Well-Known Member

    (AP) SEATTLE — Starbucks Corp. said Tuesday it will close 600 stores in the United States in the next year and cut back the number of new stores it had planned to open.

    Starbucks said 70 percent of the stores slated to be closed had opened since the start of the 2006 fiscal year. The total includes 100 previously announced store closures.

    The company expects charges between $328 million and $348 million related to the closures, including a charge of $200 million in the third quarter.
     
  2. dooley_womack1

    dooley_womack1 Well-Known Member

    .0038478 percent of their total shops. Big deal. But seriously, you had to figure they had overexpanded.
     
  3. spnited

    spnited Active Member

    They could close half the shops in Manhattan and you'd still be within a 1/4-mile of one at all times.

    Waaaaaaaaaaaaay overexpanded.
     
  4. BYH

    BYH Active Member

    You mean people have had enough of overpriced swill? Get out.
     
  5. Armchair_QB

    Armchair_QB Well-Known Member

    File this under "When an Economic Downturn Can Be a Good Thing"
     
  6. old_tony

    old_tony Well-Known Member

    This isn't a sign of Economic Downturn, this is a sign of Americans coming to their senses.
     
  7. Dyno

    Dyno Well-Known Member

    I can comfortably walk to 7 Starbucks from where I live (near, but not in, a major city). And if I find myself in need of a coffee fix in one one block stretch, there's a Caribou Coffee, too.
     
  8. Big Chee

    Big Chee Active Member

    It's ridiculous. I took a count of how many Starbucks I passed while taking a cab in the city and saw 7 Starbucks in a five minute span. And that was just passing through midtown.
     
  9. JR

    JR Active Member

    For once the Invisible Hand is working for Good.
     
  10. Doesn't this company know anything? When times are tough, just make smaller cups and redesign your coffee blends. Focus on hyperlocal drinks and let customers come in and whip up their own favorite recipies. Give away free coffee on the internet, then drop everyone's healthcare coverage.
     
  11. pseudo

    pseudo Active Member

    Just curious, do I live in the only town on the East Coast that isn't within an hour and a half of a Starbucks?

    Not that I mind. 25 minutes to the nearest Tim Horton's.
     
  12. Some Guy

    Some Guy Active Member

    Solid.
     
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