Starbucks closing 600 stores (Full Version)

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Vendaval -> Starbucks closing 600 stores (7/1/2008 8:44:19 PM)

After over-saturating the market, Starbucks now has to pull back big time.
 
"Starbucks has a bitter plan"


By Scott Moritz
 
"Starbucks (SBUX) can’t catch a break. The coffee retailer says it will close 600 stores, about 8.5% of its 7,100 total stores, an expansion of the 100-store closing target it had previously announced.

The Seattle coffee chain has been feeling the pinch of a tightening economy. In February, the company fired 600 employees and conducted a in-store retraining program to try and revive the Starbuck Experience, as CEO Howard Schultz has called it.

Starbucks says it is trying to cull unprofitable stores from the franchise and expects to book $200 million of asset write-offs in the third quarter related to the closings. Starbucks shares are down 40% over the past year." 
http://dailybriefing.blogs.fortune.cnn.com/2008/07/01/starbucks-has-a-bitter-plan/



slaveboyforyou -> RE: Starbucks closing 600 stores (7/1/2008 9:02:49 PM)

I've never cared for Starbucks.  I just won't pay 4 bucks for a cup of coffee.  I don't think their coffee is that great honestly.  Of course I am pretty simple about coffee.  I like a plain, dark roasted coffee, black with no sugar. 



abcbsex -> RE: Starbucks closing 600 stores (7/1/2008 9:05:25 PM)

Having lived near seattle for most of my life, I just want to say, ABOUT DAMN TIME. they've taken enough of my moneys!



jlf1961 -> RE: Starbucks closing 600 stores (7/1/2008 9:08:26 PM)

THE END OF $5 CUPS OF COFFEE IS IN SIGHT!!!!!!!!
And I still wouldnt pay $5 a cup of coffee even if it came with Denise Richards blowing me under the table!



Vendaval -> RE: Starbucks closing 600 stores (7/1/2008 9:16:34 PM)

I am a tea drinker rather than coffee usually.  Every once in while I can go for a mocha with the whipped creme or a latte.  But the acid from the coffee gives me heartburn.  And in summer I go for Italian sodas, less sticky sweet than regular soda.



abcbsex -> RE: Starbucks closing 600 stores (7/1/2008 9:19:36 PM)

I think this is all because people are realizing that a cup of coffee costs as much as gas... and you get a whole gallon of gas instead of 16 oz of coffee... hopefully no one tries to drink it...



DomAviator -> RE: Starbucks closing 600 stores (7/1/2008 9:23:31 PM)

YES! This means my ex-wife will commit suicide LOL God I hate Starbucks! I like coffee flavored coffee, not "a grande honey maple walnut crappucino double half caf latte mocha with a twist of lime" If I want maple flavor with blueberries Ill buy pancakes. When I need coffee, I want it black, in foam cup. Ill pay a buck for a big one....Dear God please let the one in my town be the first to go! [:D]



jlf1961 -> RE: Starbucks closing 600 stores (7/1/2008 9:24:37 PM)

Now, it would depend on what kind of gas you are talking about.

I mean, you can run Blue Ridge sippin whiskey in a car with no real problems, and you can drink the stuff...

Not to mention you can use Blue Ridge Sippin whiskey to remove paint, disinfect a wound, start a fire (a rather large fire) if'n you aint careful, get bears drunk with it, get your teachers drunk with it (requires dosing the coffee) and finally it will take stains out of your shirts.



candystripper -> RE: Starbucks closing 600 stores (7/1/2008 9:27:20 PM)

Much as I hate to see any company close or its employees lose their jobs, Starbucks was always IMO an elistist biz, appealing to snobbish attitudes about coffee most of us didn't have 10 years ago.
 
The 'Starbucks Experience' was overpaying for bad coffee and very fattening food.  There's one embedded in my local hospital for the poor; the only cafeteria open to the public.
 
I say 'buh bye!  Next time sell something we need at reasonable prices!'
 
candystripper



jlf1961 -> RE: Starbucks closing 600 stores (7/1/2008 10:23:13 PM)

Elitist?  Gee, I havent heard that word since the seventies... and well part of the 80's.

However, I would add to that list, The Gap, Old Navy, and any other store where they charge 30 bucks for a pair of jeans and 25 for a damn Tshirt.

I can go down to the local farm and ranch supply, buy a pair of jeans for 14 bucks that will last for two years, a pack of 10 tshirts for 15 bucks, and just about everything else one could need with the exception of food, unless I am raising another calf to butcher this winter.





Hippiekinkster -> RE: Starbucks closing 600 stores (7/1/2008 11:20:55 PM)

quote:

ORIGINAL: slaveboyforyou

I've never cared for Starbucks.  I just won't pay 4 bucks for a cup of coffee.  I don't think their coffee is that great honestly.  Of course I am pretty simple about coffee.  I like a plain, dark roasted coffee, black with no sugar. 
I haven't had coffee in years, but when I used to drink it, I'd go for Aikane Estates Kona Peaberry, about 25 bucks per 1/2 pound. Even at that price, I was still way ahead of that Starbucks slop (pricewise). I like medium roast; dark roast to me seems to drive off the more volatile components of the bean as well as altering the taste too much for my taste.

Is Starbucks coffee Fair Trade, anyone know?

I just wonder how all those soi-disant artists will make any money now.

And when hear about mass firings/layoffs, I always think about this number I read somewhere, 2.5. That is the multiplier for each dollar of wages earned that is spent on services like haircuts, shopping, and other stuff. The hairstyist turns around and spends it on lunch; the server spends the tip, and so on down the line.



ownedgirlie -> RE: Starbucks closing 600 stores (7/1/2008 11:28:17 PM)

I know people who work for Starbucks and say it's a great place to work.  Sad about the job losses as a result of closing so many stores.

I've always preferred Peet's coffee - a much richer flavor.  Still, I buy the whole beans and grind & brew 'em at home.  No $4/cup with that tactic.  One can do the same with Starbucks, too.

Starbucks was so successful because people ate (er...drank) it up.  Obviously there was a demand for it.  But the point about a gallon of gas costing more than a 16oz latte is a good one.  Personally, I never thought their coffee was that great, but a periodic "fru fru drink" (as one Starbucks manager I know puts it) can be quite refreshing.



Leatherist -> RE: Starbucks closing 600 stores (7/1/2008 11:31:53 PM)

"charbucks" rode the luxury wave until the reef came up. 

Now we got this:

http://www.youtube.com/watch?v=jkYSDYDc8mE

Too bad, so sad. That's what you get for inflating a market.



DomKen -> RE: Starbucks closing 600 stores (7/1/2008 11:55:26 PM)

I live in a neighborhood with a lot of independent coffee shops.Nice places where I can go and write code while having a good coffee and sandwich or hang out half the night playing go and talking politics. A few years back Starbucks blew into the nieghborhood opening 3 or 4 stores and, rumors have it, messing with suppliers about cutting off the independents.

I go by a couple on my way to various things and you occasionally see what are clearly Loyola students in the one near their campus but neither one seems to do much business compared to the places I go which are still doing about the same business as before. I'm betting teh stores in my neighborhood will be some of the ones to go and I do feel bad for the folks about to lose their jobs I am glad one more chain has failed to grab a foothold here.



Hippiekinkster -> RE: Starbucks closing 600 stores (7/2/2008 2:18:42 AM)

Marks and Sparks in trouble too.
Gloomy times ahead for the UK High Street.
http://news.bbc.co.uk/2/hi/business/7484700.stm

Now, I could have started a whole new thread about this. See how nice I am? [8D]



meatcleaver -> RE: Starbucks closing 600 stores (7/2/2008 3:24:40 AM)

It's always amazed me that so many will pay so much for so little.



housesub4you -> RE: Starbucks closing 600 stores (7/2/2008 3:59:07 AM)

I am sooooo glad they are closing.  One just openned up on my little town and it seems all the farmers and factory workers have no interest in something you can make at home or buy for a hell of a lot less at the local diner.

Though I did like the scene in the movie "Best In Show", where a couple is talking about seeing each other in the Starbucks across the street from the one they where in.

I know I won't miss them



MsValentine -> RE: Starbucks closing 600 stores (7/2/2008 4:35:40 AM)

For a Brit who has never lived in London, the espresso based coffee retailers like Starbucks once seemed like a dream. I got hooked on Starbucks after a trip to Seattle in 1997 and came back home to discover they were arriving in England. I thought this was fabulous as outside of London, it seemed almost impossible to get a coffee which was strong, freshly made and not instant from cheapo catering packs.

However, as the years have gone on, I have seen the insidious effects of creeping globalisation of coffee retailers like Starbucks and feel sorry that we encouraged it, maybe unwittingly to get this far. They have killed off independent cafes, are often dirty inside, way too expensive ( of course) and ultimately soulless and joyless places to have a hot beverage and a sit down. We are tired of the Starbucks ( and look-e-likeys) Experience.

I am sorry that people will lose jobs but beyond that, I can't say I feel any regrets.



Aileen1968 -> RE: Starbucks closing 600 stores (7/2/2008 4:39:49 AM)

I hate Starbucks coffee.  I'd go without if that was my only choice.
Now Dunkin Donuts on the other hand...I go out of my way for a cup.



housesub4you -> RE: Starbucks closing 600 stores (7/2/2008 4:49:55 AM)

Nothing better than a 1/2 dozen donuts + Ex Large coffee to start your morning, all for about the price of a Grande whatever from Starbucks



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