Starbucks to close some stores
 

Is this really a surprise?? Come on. Having a Starbucks on every corner was the original plan. I guess that wasn't such a smart idea.
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Starbucks to cut as many as 12,000 positions
Tuesday July 1, 4:33 pm ET


LOS ANGELES (Reuters) - Starbucks Corp (NasdaqGS:SBUX - News) said on Tuesday it plans to close another 500 underperforming stores and eliminate as many as 12,000 fill- and part-time positions.
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The company, which now plans to close a total of 600 underperforming stores, will take related charges totaling more than $325 million.

The majority of the stores will be closed by the end of the first half of its fiscal year ended September 2009, the company said.

Starbucks said 70 percent of the stores targeted for closure have been open since the beginning of fiscal 2006.

Starbucks estimated the total pretax charges associated with the planned U.S. company-operated store closures, including costs associated with severance, would be in the range of $328 million to $348 million.

Starbucks also said it will open fewer than 200 new U.S. company-operated stores in fiscal 2009, down from 250 previously.

I always wondered how they could have so many stores without canabalizing their own sales.

500 stores huh? That should only eliminate a five block area!

Yeah, not a big deal. I can't remember the term... mature stage??? of growth.

Starbucks cofee is such an over priced luxury. Their bubble was bound to burst at some point and with the economy as slow as it is now, it's not surprising.

It's simple business. If it doesn't turn a profit, cut it. No surprise here.

The original concept was that they believed that a customer would only venture out a limited distance for coffee. On that priciple, the viral placement of small stores suceeded.

Lewis Black had a routine about the coming of the appocalypse drawing near when he walked out of a Starbucks and from the door he could see another Starbucks across the street.

From my window right now, I can see two Starbucks, one with a connected Jamba Juice, on the same side of the same street, with less than 200 yards between them. People in Honolulu don't walk much. :D

As long as they do not close the 24 hour starbucks by my house, its cool.

Charbucks
 

OK with me..........

I'm not a big fan of overpriced burned coffee anyway.

http://en.wikipedia.org/wiki/Peets


^^Thats the best coffee shop ever. They make the best cup of coffee.

I don't drink coffee so I don't care.:D

I'll say it's fresh ground - This coffee tastes like dirt!

I hope the 3 stores within a mile from my house won't close. I wonder what will happen with all the stores in Seattle? Actually when I am in Seattle I like going to the smaller independent stores, many of them have very good coffee, and offer $.25 and $.50 refills, which I like a lot. One of my favorites is Herkimer Coffee. http://www.herkimercoffee.com/

Friends Don't Let Friends Drink Starbucks

I hit double D's more often. I believe it's 2/3rds the price, and serves my purpose.