Originally Posted By Jim in Merced CA <More than two thirds of the stores to be shuttered opened since the start of 2006, with the largest number opening in 2007, Bocian said. That sounds eerily similar to the same period when there was a surge in home sales financed with risky loans, many of which are now in default or in foreclosure.> More of the story at this link... <a href="http://www.abcnews.go.com/Business/story?id=5288740&page=1" target="_blank">http://www.abcnews.go.com/Busi...0&page=1</a>
Originally Posted By Elderp I think there is going to be a bit of withdraw shock for a few morning coffee runners.
Originally Posted By gottaluvdavillains We have 10 in our town if you include the 2 safeways and one target shops... My son works at one!
Originally Posted By gottaluvdavillains Been there done the target thing --- that's where he got in trouble!! Starbucks pays more
Originally Posted By DyGDisney So how can we find out which stores are closing? I've decided to save money by only having Starbucks after church on Sundays, and I only get a tall. It's my only vice, and the one thing I do for myself regularly, so I can justify it once a week. But with everything costing so much right now, I can understand why 600 stores are closing.
Originally Posted By DyGDisney Tall is small. It depends on what you're getting, but I think around $3.10. I know it sounds like a lot for a drink, but I don't drink soda, ever(except at Disneyland), I don't eat fast food, I don't smoke or ever buy OR drink alcohol. I mean, how much do you pay for a beer at a bar, restaurant or baseball game? It's a vice, but at $12.40/month it's one I can live with!!!
Originally Posted By X-san Wow, it's much cheaper in Japan (a medium is around $3.20). That's surprising. On the other hand, I wouldn't wanna add up the cost of all MY vices, so no $12 a month ain't bad at all!
Originally Posted By Jim in Merced CA <So how can we find out which stores are closing?> Starbucks hasn't officially announced the specific stores that will close.
Originally Posted By woody Starbucks has lost the magic touch. It's no different than Crispy Kremes that had a strong start, but is tanking after bad publicity. It's just too bad for a great, but damaged brand.
Originally Posted By retlawfan Starbucks has said that most of the closings will be in markets where there are multiple stores, so no one will be without their vice.
Originally Posted By dshyates I think I read somewhere it was mostly going to be kiosks that will be closing. So most actual stores should be ok.
Originally Posted By SingleParkPassholder "Starbucks has said that most of the closings will be in markets where there are multiple stores, so no one will be without their vice." So that's basically everywhere, right? On the evenings news it was reported that most of the 600 closings will be done this year, with the rest next year. Targeted for closure are stores that were opened since 2006.
Originally Posted By SingleParkPassholder <a href="http://ap.google.com/article/ALeqM5hinV1XVpDeRBwTJTEpQCkvIcoMJAD91LBE2G3" target="_blank">http://ap.google.com/article/A...91LBE2G3</a> "Seventy percent of the stores slated for closure had opened after the start of 2006, the company said in a statement. To put it another way, Starbucks is closing 19 percent of all U.S. company-operated stores that opened in the last two years, Chief Financial Officer Pete Bocian said during a conference call. About 12,000 workers, or 7 percent of Starbucks' global work force, will be affected by the closings, which are expected to take place between late July and the middle of 2009, spokeswoman Valerie O'Neil said. O'Neil said most employees will be moved to nearby stores, but she did not know exactly how many jobs will be lost. Starbucks estimated $8 million in severance costs."
Originally Posted By Jim in Merced CA <It's just too bad for a great, but damaged brand.> I don't see the brand as damaged. Oversaturated maybe...
Originally Posted By Kar2oonMan Yeah, I don't think Starbucks is damaged. There's just a finite amount of demand for coffee products, that's all. Starbucks has locations directly across the street from each other many places. Add in Peet's and Dunkin Donuts and all the other competitors, the in-store locations, the kiosks here and there... that's a lotta java.
Originally Posted By gottaluvdavillains Really the only place I see them lacking - is in the target and safeway stores - The employees at these locations are not starbucks employees but rather target or starbuck employees - so their training and standards are different! On the other hand I have more than 500 stores within 50 miles of my home!
Originally Posted By ChurroMonster woody: "Starbucks has lost the magic touch. It's no different than Crispy Kremes that had a strong start, but is tanking after bad publicity." Krispy Kreme had one great product (HOT glazed donuts) and tried to sell a whole lot of inferior products (everything else on their menu) at premium prices. It's no wonder that they are failing.
