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Thread: Starbucks closing 150 stores

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    Common's Avatar Senior Member
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    Starbucks closing 150 stores

    Americans' long-running joke about a Starbucks on every corner may be nearing its end.

    The coffee behemoth is retrenching in its home market as it contends with sales growth that Chief Executive Officer Kevin Johnson acknowledges isn’t fast enough. The cafe chain said Tuesday it expects comparable sales to rise just 1 percent globally for the current quarter—the worst performance in about nine years. That’s well below the 2.9 percent analysts were expecting, according to Consensus Metrix.


    Starbucks also plans to close about 150 company-operated stores in densely penetrated U.S. markets next fiscal year, three times the number it historically shuts down annually. Shares initially slid as much as 6.3 percent in late trading Tuesday before inching back up. The stock was down 1.6 percent as of 5:24 p.m. in New York.

    https://www.bloomberg.com/news/artic...ts-home-market

    “Our growth has slowed a bit,” Johnson said in an interview. “I expect better, I think our shareholders deserve better, and we're committed to address that.”
    LETS GO BRANDON
    F Joe Biden

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    ..........could it be the backlash he's getting for his political stance?
    For waltky: http://quakes.globalincidentmap.com/
    "The Nation that makes a great distinction between its scholars and its warriors will have its thinking done by cowards and its fighting done by fools."
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    Igitur qui desiderat pacem, praeparet bellum

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    Cannons Front's Avatar Senior Member
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    Not a coffee drinker myself, but if I was I would not be a $5 cup coffee drinker....... Then there is all their PC drivel...... I would not miss Starbucks if they closed all of their stores
    "The powers of the federal government are enumerated; it can only operate in certain cases; it has legislative powers on defined and limited objects, beyond which it cannot extend its jurisdiction." James Madison 1788

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    Common Sense's Avatar Senior Member
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    It's probably because their coffee isn't that great.

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    Quote Originally Posted by Common Sense View Post
    It's probably because their coffee isn't that great.
    I do buy their whole bean espresso..................fresh ground every day..........but if they went out of business, I have this source, I just have to pay to ship
    http://oldcrown.com/
    I really like their 9th degree of Darkness
    For waltky: http://quakes.globalincidentmap.com/
    "The Nation that makes a great distinction between its scholars and its warriors will have its thinking done by cowards and its fighting done by fools."
    - Thucydides

    "Democracy is two wolves and a lamb voting on what to have for lunch. Liberty is a well-armed lamb contesting the vote" B. Franklin
    Igitur qui desiderat pacem, praeparet bellum

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    Starbucks coffee is overated and way to expensive, I dont buy it. Theres coffee shops here called Cattlemans that have far better coffee for half the price.
    LETS GO BRANDON
    F Joe Biden

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    Perhaps they should have stayed out of politics.

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    I like 7-11 coffee better than Starbucks.
    ΜOΛΩΝ ΛΑΒΕ


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