Starbucks Closing 600 Stores In U.S. - Sitcoms Online Message Boards

Family Ties Forever! · 07-01-2008, 11:47 PM

Quote:

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Starbucks Closing 600 Stores In U.S. Company Plans To Open Fewer Than 200 Stores in '09

Posted: 3:34 pm CDT July 1, 2008
Updated: 4:14 pm CDT July 1, 2008

Starbucks Corp. said Tuesday it will close 600 stores in the United States in the next year and cut back the number of new stores it had planned to open.

Starbucks said 70 percent of the stores slated to be closed had opened since the start of the 2006 fiscal year. The total includes 100 previously announced store closures.

The company expects charges between $328 million and $348 million related to the closures, including a charge of $200 million in the third quarter.

Once those underperforming stores have shut down - a process the company said will happen gradually from now until the first half of 2009 - Starbucks said it expects the change to boost earnings by $100 million a year.

Starbucks said it will try to place workers from closed stores in remaining Starbucks.

Shares of Seattle-based Starbucks slipped 11 cents to $15.51 in after-hours trading after losing 12 cents to close at $15.62.

Copyright 2008 by The Associated Press. All rights reserved.

Nighthawk76 · 07-01-2008, 11:53 PM

I just hope that they don't close the one between my house and work.

PunkyP0WER · 07-01-2008, 11:55 PM

can't say that i'm sad over it. starbucks is overrated and overpriced and i think they're losing their appeal.with gas at $4.29+ (where i live anyway) who wants to pay 4 bucks for a cup of coffee.

give me dunkin donuts anyday. although i feel bad for all the displaced workers who don't get transfered to another store.

PunkyP0WER · 07-02-2008, 12:02 AM

although this will be an ongoing trend if the economy stays in a slump. i was at the hairdressers yesterday which i put off for 8 weeks (i'm a bottle blonde, it wasn't pretty) and my hairdresser was telling me he had 3 customers all day and my husband and i were #2 and #3 and we were his last customers. he said people were putting off luxuries like this to afford necessities.

catlover79 · 07-02-2008, 12:15 AM

Since I don't drink coffee, this has no effect on me whatsover.

Seriously, I hope all the employees are able to be relocated.

PunkyP0WER · 07-02-2008, 12:23 AM

Quote:

Originally Posted by catlover79

Since I don't drink coffee, this has no effect on me whatsover.

Seriously, I hope all the employees are able to be relocated.

i'm the same way, though my reason for not drinking it is because it upsets my stomach. i've even tried folgers simply smooth without any favorable results. its too bad because i love the aroma of coffee. however coffee ice cream doesn't bother me

i did however like starbucks cider. but i bought instant cider packets that taste just as good and save me a lot more money.

Hollow · 07-02-2008, 12:26 AM

coffee is the most overrated **** in the world, even the word makes me cringe. accidently drank some coffee-flavored milk the other day and i was gagging so hard i was sincerely worried that i was going vomit.

PunkyP0WER · 07-02-2008, 12:56 AM

Quote:

Originally Posted by safety pin

coffee is the most overrated **** in the world, even the word makes me cringe. accidently drank some coffee-flavored milk the other day and i was gagging so hard i was sincerely worried that i was going vomit.

oh i love coffee flavored milk

Czas na Zywiec · 07-02-2008, 01:25 AM

I'm going to post what I said on another forum.

It was only a matter of time. There are five Starbucks within 10 minutes of me, two of which had opened this year. They really couldn't have expected to keep doing that with the way the economy is doing now. Plus, Boulder is a tough market, we have a ton of local coffee shops which have been staples of the Boulder scene for years.

Their overexpansion always reminds me of that episode of the Simpsons where Bart gets his ear pierced. He goes to the local mall and passes by like 10 Starbucks stores. When he gets to the piercing parlor, he asks about an earing and the man at the counter replies with something like " Sure we can do that but in about 5 minutes we're turning into a Starbucks." And as he walks out with his shiny new earing, he's drinking a cup of Starbucks coffee.

robyrob · 07-02-2008, 06:07 AM

i have seen some Starbucks that are literally across the street from another Starbucks, or less then a block away - they are oversaturated and overrated.

TJL · 07-02-2008, 07:28 AM

Quote:

Originally Posted by robyrob

i have seen some Starbucks that are literally across the street from another Starbucks, or less then a block away - they are oversaturated and overrated.

Half a block from me, there are two Starbucks IN THE SAME BUILDING.

One faces 49th street (between 8th and 9th) and the other - just walk 100 or so yards and make a left - and bingo, there is one one at the corner of 8th Avenue and 49th. Both are in the Worldwide Plaza building.

There is no doubt Starbucks should have seen this coming.

"70 percent of the stores slated to be closed had opened since the start of the 2006 fiscal year?"

catlover79 · 07-02-2008, 11:32 AM

Quote:

Originally Posted by PunkyP0WER

oh i love coffee flavored milk

I love coffee yogurt - go figure.

Scoobiedoo30 · 07-02-2008, 12:19 PM

I heard that on The WGN News last Night and they just opened up a new one where I Live.

InspectorExstead · 07-02-2008, 01:19 PM

starbucks is definitely over-rated and their coffee is nasty and always tastes burnt. so this won't really affect me. i'm getting tired of seeing a starbucks on every block.

BarneyFife · 07-02-2008, 01:35 PM

I've only tried Starbucks once and i hated it. It was way to strong for me, but i can't complain about the price, it was free. My friends daughter worked for them at the time and she give me a coupon for a free cup of coffee. Still i hate to see all those workers lose their job because of the stores closing down.

07-02-2008, 12:15 AM	#5
catlover79 God Bless Val Forum Addict Join Date: May 29, 2006 Location: Bewitched in Ohio Posts: 70,392	Since I don't drink coffee, this has no effect on me whatsover. Seriously, I hope all the employees are able to be relocated.
	__________________ "Jesus loves you and He approves this message." "I'm alive. I'm feeling good. I'm trying to live every moment as much as I can." - Valerie Harper, March 2013

07-02-2008, 06:07 AM	#10
robyrob certified wackball#3 Moderator Forum Icon Join Date: Aug 03, 2003 Location: hiding under the third booth at Arnold's Posts: 58,203	i have seen some Starbucks that are literally across the street from another Starbucks, or less then a block away - they are oversaturated and overrated.
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07-02-2008, 12:19 PM	#13
Scoobiedoo30 Member Forum Superstar Join Date: Jun 27, 2002 Location: KENNER, LOUISIANA Posts: 27,654	I heard that on The WGN News last Night and they just opened up a new one where I Live.
	__________________ Who Dat

07-02-2008, 01:19 PM	#14
InspectorExstead Member Forum Fanatic Join Date: Oct 29, 2001 Location: The Golden State Posts: 12,902	starbucks is definitely over-rated and their coffee is nasty and always tastes burnt. so this won't really affect me. i'm getting tired of seeing a starbucks on every block.
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07-02-2008, 01:35 PM	#15
BarneyFife Retired Forum Fanatic Join Date: Mar 02, 2008 Posts: 8,460	I've only tried Starbucks once and i hated it. It was way to strong for me, but i can't complain about the price, it was free. My friends daughter worked for them at the time and she give me a coupon for a free cup of coffee. Still i hate to see all those workers lose their job because of the stores closing down.
	__________________ BarneyFife has left the building.

07-01-2008, 11:53 PM	#2
Nighthawk76 Rachel Berry Forum Celebrity Join Date: Feb 28, 2003 Location: Illinois Posts: 23,254	I just hope that they don't close the one between my house and work.

07-01-2008, 11:55 PM	#3
PunkyP0WER Member Senior Member Join Date: May 23, 2008 Location: MACY*S on 34th St. Posts: 1,908	can't say that i'm sad over it. starbucks is overrated and overpriced and i think they're losing their appeal.with gas at $4.29+ (where i live anyway) who wants to pay 4 bucks for a cup of coffee. give me dunkin donuts anyday. although i feel bad for all the displaced workers who don't get transfered to another store.

07-02-2008, 12:02 AM	#4
PunkyP0WER Member Senior Member Join Date: May 23, 2008 Location: MACY*S on 34th St. Posts: 1,908	although this will be an ongoing trend if the economy stays in a slump. i was at the hairdressers yesterday which i put off for 8 weeks (i'm a bottle blonde, it wasn't pretty) and my hairdresser was telling me he had 3 customers all day and my husband and i were #2 and #3 and we were his last customers. he said people were putting off luxuries like this to afford necessities.

07-02-2008, 12:26 AM	#7
Hollow Member Forum Superstar Join Date: Dec 16, 2001 Posts: 30,406	coffee is the most overrated **** in the world, even the word makes me cringe. accidently drank some coffee-flavored milk the other day and i was gagging so hard i was sincerely worried that i was going vomit.

07-02-2008, 01:25 AM	#9
Czas na Zywiec what up Forum Star Join Date: Jun 28, 2001 Location: Southwest Side, Chicago Posts: 18,398	I'm going to post what I said on another forum. It was only a matter of time. There are five Starbucks within 10 minutes of me, two of which had opened this year. They really couldn't have expected to keep doing that with the way the economy is doing now. Plus, Boulder is a tough market, we have a ton of local coffee shops which have been staples of the Boulder scene for years. Their overexpansion always reminds me of that episode of the Simpsons where Bart gets his ear pierced. He goes to the local mall and passes by like 10 Starbucks stores. When he gets to the piercing parlor, he asks about an earing and the man at the counter replies with something like " Sure we can do that but in about 5 minutes we're turning into a Starbucks." And as he walks out with his shiny new earing, he's drinking a cup of Starbucks coffee.