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#1
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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.
************************************ 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. ADVERTISEMENT 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.
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Jennifer 90 350sdl |
#2
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I always wondered how they could have so many stores without canabalizing their own sales.
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" We have nothing to fear but the main stream media itself . . . ."- Adapted from Franklin D Roosevelt for the 21st century OBK #55 1998 Lincoln Continental - Sold Max 1984 300TD 285,000 miles - Sold The Dee8gonator 1987 560SEC 196,000 miles - Sold Orgasmatron - 2006 CLS500 90,000 miles 2002 C320 Wagon 122,000 miles 2016 AMG GTS 12,000 miles |
#3
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500 stores huh? That should only eliminate a five block area!
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2009 ML350 (106K) - Family vehicle 2001 CLK430 Cabriolet (80K) - Wife's car 2005 BMW 645CI (138K) - My daily driver 2016 Mustang (32K) - Daughter's car |
#4
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Yeah, not a big deal. I can't remember the term... mature stage??? of growth.
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1985 500SL Euro w/ AMG bits 130k 1984 300SD Turbodiesel 192k 1980 240D Stick China 188k 2001 CLK55 AMG 101k 2007 S600 Biturbo 149k Overheated Project, IT'S ALIVE!!! |
#5
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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.
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-Evan Benz Fleet: 1968 UNIMOG 404.114 1998 E300 2008 E63 Non-Benz Fleet: 1992 Aerostar 1993 MR2 2000 F250 |
#6
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It's simple business. If it doesn't turn a profit, cut it. No surprise here.
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01 Ford Excursion Powerstroke 99 E300 Turbodiesel 91 Vette with 383 motor 05 Polaris Sportsman 800 EFI 06 Polaris Sportsman 500 EFI 03 SeaDoo GTX SC Red 03 SeaDoo GTX SC Yellow 04 Tailgator 21 ft Toy Hauler 11 Harley Davidson 883 SuperLow |
#7
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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. |
#8
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As long as they do not close the 24 hour starbucks by my house, its cool.
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-Justin 91 560 SEC AMG - other dogs dd 01 Honda S2000 - dogs dd 07 MB ML320 CDI - dd 16 Lexus IS250 - wifes dd it's automatic. |
#9
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Charbucks
OK with me..........
I'm not a big fan of overpriced burned coffee anyway.
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Palangi 2004 C240 Wagon 203.261 Baby Benz 2008 ML320 CDI Highway Cruiser 2006 Toyota Prius, Saving the Planet @ 48 mpg 2000 F-150, Destroying the Planet @ 20 mpg TRUMP .......... WHITEHOUSE HILLARY .........JAILHOUSE BERNIE .......... NUTHOUSE 0BAMA .......... OUTHOUSE |
#10
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http://en.wikipedia.org/wiki/Peets
^^Thats the best coffee shop ever. They make the best cup of coffee.
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-Justin 91 560 SEC AMG - other dogs dd 01 Honda S2000 - dogs dd 07 MB ML320 CDI - dd 16 Lexus IS250 - wifes dd it's automatic. |
#11
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I don't drink coffee so I don't care.
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1999 SL500 1969 280SE 2023 Ram 1500 2007 Tiara 3200 |
#12
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I'll say it's fresh ground - This coffee tastes like dirt!
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It is a truism that almost any sect, cult, or religion will legislate its creed into law if it acquires the political power to do so. Robert A. Heinlein 09 Jetta TDI 1985 300D |
#13
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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/
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1999 Toyota Corolla VE (Mine) 2006 Honda Odyssey (Wife's) 1979 300CD (sold) |
#14
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Friends Don't Let Friends Drink Starbucks
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82 300D Turbo 124,000 mi. |
#15
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I hit double D's more often. I believe it's 2/3rds the price, and serves my purpose.
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1987 300SDL (324000) 1986 Porsche 951 (944 Turbo) (166000) 1978 Porsche 924 (99000) 1996 Nissan Pathfinder R50 (201000) |
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