I just noticed a new headline at www.drudgreport.com stating that Starbucks will be closing 600 stores...
Starbucks closing 600 stores in the US
Tuesday July 1, 4:26 pm ET
Starbucks closing 600 underperforming stores in the United States
SEATTLE (AP) -- Starbucks Corp. has announced it's closing 600 underperforming stores in the United States.
The Seattle-based premium coffee company also announced Tuesday it expects to open fewer than 200 new company-operated stores in the United States in fiscal 2009.
The company says it will try to place workers from closed stores in remaining Starbucks.
I believe this is a result of $4.00+ per gallon gas, and the impact of Nemo's Coffee, and other independent retailers offering higher quality product than Starbucks.
As for us, we have not really seen an impact on sales, other than NOT seeing growth that we planned for. June 2008 sales were at $13,900 which is right around our break even point. Considering that we have no signage and yellow caution tape and orange cones blocking our entrance and all of the parking in front of our store, that is great! I'm anxious to see what will happen after the building facade construction is completed...
Gotta run,
JD
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