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The WSJ reported that the amount of traffic flowing through Starbucks Corp.'s U.S. stores fell during the fourth quarter for the first time since the company began disclosing the figure three years ago.
"We're seeing this economic impact not just in select states across the country but a coast to coast issue," the CEO said.
Net revenue overall, however, rose 22% to $2.44 billion from $2 billion.
If anything, it should be a wakeup call to stop opening new stores that are so close as to canibalize sales from existing stores.
Ain't that the damn truth! There's a freakin' Starbucks every .5 miles here in Southern California. And, that is on both North and South sides of the road. Or East and West, or whatever...
They've also found a way to put existing coffee shops out of business. I know of at least 4 closures (competition) in the past 6 months within a 5 mile radius of my location.
I stopped drinking Starbucks after I got my Tassimo a couple of years ago. :)
Are we supposed to tip in food courts now for stand up service?
BTW, SBUX stock fell about 20% recently.
I don't get the whole SBUX thing, but then... I'm OLD.
Disclaimer: Tim Hortons does not lace coffee with illegal drugs, but you sometimes wonder why you can't just drive by one.
We can't drive pass one without our three year old saying 'I want a french vanilla cappuccino' :).
But, yes, in the suburbs here in Virginia you can't spit and not hit a Starbucks.
Although I really wish they'd put them in Motorway services over here. I work all over the country, and drink a lot of motorway coffee. Coffee Primo (or sometimes Costa) is no patch on Starbucks.
I don't know how they do it but they make a great cup of coffee, and I'm quite happy to pay almost £3 ($6) for a cup. I can't wait to try the new Toffee one.
In Manhattan they have the best public restrooms. God bless 'em for that!
NYers aren't exactly known for offering their restrooms to the public.
They're trying to make inroads into the north eastern US but don't think they're having much success.
I wonder what other countries do. Do Brits or Europeans drink this much coffee? I had a programmer from Korea who was horrified at how much coffee Canadians drink.
[metro.co.uk...]
