Coffee giant Starbucks plans to close 600 stores in the U.S. during the next 12 months. The company is blaming the cutback on over-aggressive expansion rather than slowing consumer demand.
We (My family and I) wonder if $4 gasoline may be driving people away from $4 cups of Starbucks coffee.
The company says the store closures will result in the loss of about 12,000 jobs. That’s a lot of barista’s who will clicking on Monster.com looking for work.
Some people walk past a Starbucks next to their commuter train station in suburbia, walk past another in the downtown train station and two more on a four-block walk to the office building where they work. Their office building, by the way, also has a Starbucks in the lobby.
Now those same people may only have two or three chances to get a Frappuccino on their way to work
Info Thanks to The Financial Times