Starbucks Profits Falling Dramatically

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11 November 2008 148 views 3 Comments

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

3 Comments »

adam hartung said:

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

# 12 November 2008 at 12:03 am

Coffee break- said:

I think this one mainly because the made hard decision to close about 600 close across the nation couples moths ago

# 23 November 2008 at 3:36 am

Roast Master (author) said:

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!

# 25 November 2008 at 10:31 pm