Tuesday, July 01, 2008

Starbucks coffee empire to close 600 stores

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

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