Starbucks announces plans to cut 900 more jobs, close stores

[Johnny2X2X]

https://finance.yahoo.com/news/starbucks-announces-plans-to-cut-another-900-jobs-and-close-more-stores-as-its-turnaround-struggles-continue-120332919.html

This comes after they laid off 1100 people earlier this year.

I realize some people really love Starbucks, but I have never and will never get it. $6 or $7 for a coffee drink just never made snese to me and I am a coffee drinker.

[NCDem47]

1. Waaaaaaay overexpanded

I've seen them across the block from each other.

Dunkin' coffe is better anyway.

[Wounded Bear]

2. A few years ago, there was a block in east Kent, WA with three Starbucks...

There was one inside the Safeway store, and a drive thru in the same strip mall, with a walk in store across the street.



Was never a fan. Coffee is over roasted.

[dutch777]

3. Starbucks actually had a policy in prime demographic locations to take all suitable properties to keep out competitors

Had a friend who was store construction lead for the West Coast about 15 years ago and Starbucks actually decided if they were going to lose sales at one location, they would rather lose it to another of their own stores than a competitor. Given even a small strip mall store cost over a $ 1 million to build out and equip, you gotta sell a lot of coffee and at a premium to cover your front end costs plus pay for triple net space leases on way more square footage than you need.

Locally they just built a new stand alone store and across the street a local chain called 7Brew opened up a small drive thru with easily half or less the investment of the Starbucks. Starbucks has almost no drive thru line and 7Brew has 6+ cars in line all day long even in the afternoon. They sell drinks for less and are totally eating Starbucks' lunch.

[hlthe2b]

4. Yes, they overexpanded and have been too pricey for years but I just paid 120% more for

a 11-ounce (formerly 12-ounce, formerly 16-ounce) bag of coffee from a favorite (but not really top premium) coffee company that I have purchased from for years. It is not sold in grocery stores in my part of the US, but where is located, I believe it probably is.

If that is the case with the so-called consumer "grade" coffee, then Starbucks must be losing their everloving minds over those 50% tariffs on Brazil. I just bought $50 of my favorite loose-leaf tea that I use to make iced tea that I drink constantly, and which will last quite a while because those prices are increasing dramatically, too.

Damn you, Trump! How will the public "love you" when they have zero medical care access (and no ability to buy prescription drugs if they do), are eating beans and rice as the only staple they can afford, and shivering all winter (while sweltering all summer long in between power outages) as a result of your mega AI-generating facility promotion over the consumer and war on Green Energy.

[kacekwl]

5. Strange , there are five Starbucks

Within 5 minutes of me. Two new ones that opened in the last year.