Starbucks Profits Falling Dramatically
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Starbucks Profits Fall By 97% In Past Quarter
With everything that the coffee giant, Starbucks, is trying to do to turn itself around, nothing seems to be helping. The economic slump isn’t helping one bit either as consumers are slowing down on purchases of specialty coffee from the once dominating force in the coffee industry.
New rivals have emerged, offering specialty coffee now are other food industry giants like McDonalds. Recently, McDonalds started offering a variety of specialty coffee beverages, and consumers are obviously enjoying the opportunity.
To read a little more about the problems Starbucks is facing, visit: New York Times – Starbucks Profits Falling
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November 12th, 2008 at 12:03 am
Mr. Schultz’ “back to basics” program for Starbucks is a disaster. Acting like a Jim Collins “hedgehog” is burrowing into the dirt – and letting competitors run right over Starbucks. This is bad news for investors, and the innovative employees that historically helped move Starbucks into new growth businesses. Read more at http://www.ThePhoenixPrinciple.com
November 23rd, 2008 at 3:36 am
I think this one mainly because the made hard decision to close about 600 close across the nation couples moths ago
November 25th, 2008 at 10:31 pm
I think that has alot to do with it too coffee break. But I also think that they’re popularity is falling quickly, and they are on the edge right now as it is!