Starbucks closing 600 stores
I have spent many sessions in Starbucks to work online. It’s the sign of the time that Starbucks Corp is closing down 600 stores in the US. Sign of recession that is.
I don’t know if this will impact overseas branches like Starbucks Malaysia but I hope it doesn’t. In fact, Starbucks just opened new branch in Tanah Rata, Cameron Highlands a month or two ago.
It’s still a good place to meet up with friends and I’ve discussed many work projects at Starbucks. One of my complaints is some branches have WiFi that is not working. Imagine how disappointing it is to buy a ten bucks coffee and sitting down with your laptop and finding out you can do any work because the WiFi is on the fritz.
Starbucks Corp said on Tuesday it plans to close 600 underperforming U.S. stores and cut up to 12,000 full- and part-time positions, as it copes with an economic downturn and increasing competition.
The coffee seller, bracing for its first full-year profit decline since 2000, has been grappling with the slowing U.S. economy and consumer spending at the same time that major competitors like McDonald’s Corp have begun attacking its core business.
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I don't know any of the names you mentioned
August 26th, 2008 at 5:22 am
I hope they don’t keep continuing to close down stores, as I love starbucks. If mine closed I’d travel (for reasonable amount of time) instead of going to some knock off of starbucks. I’m surprised they actually closed this many stores as starbucks is quite popular.