Starbucks to Close Stores and End Sandwich Sales

by thoughtfulconservative

Yes, Virginia, we are in a recession.

Starbucks will

close 100 underperforming locations in the United States while scaling back the rate of store openings domestically. At the same time, Starbucks will move more aggressively to open stores overseas, where business remains robust.

Starbucks reported anemic sales growth of 1 percent at stores open at least a year, the worst three-month performance in the company’s history. United States sales have been battered by a weak economy and increased competition from the likes of McDonald’s and Dunkin’ Donuts. Same-store sales for American stores declined 1 percent.

Can there now be any doubt?

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2 Comments to “Starbucks to Close Stores and End Sandwich Sales”

  1. Maybe if they didn’t have a bloomin’ Starbucks on every corner, they wouldn’t be having ‘under performing’ shops.

  2. Hear hear! I hope this is only the beginning.

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