Starbucks has announced it will close at least 600 stores across the U.S., almost 20% of the stores that have opened in the past two years.You know the economy's in bad shape when companies peddling an addictive beverage are struggling.
Still, it's kind of amazing how much hand-wringing this is causing. It was the siren-screaming lead item on Drudge yesterday, and much of the coverage has been borderline hysterical: WE STILL DON'T KNOW WHICH STORES ARE AFFECTED! DEAR GOD, LET IT NOT BE MINE!
Personally, we go for cheap-o deli coffee here in NYC, but when we're in little rural towns in the South, we've been known to drive thirty miles to the nearest Starbucks for some French Roast and the only New York Times in the county. What's another ten?
Reader Comments ( Page 1 of 1)
1.
That's what you get for paying $5.oo for a cup of coffee !
I wouldn't give a nickel for the whole franchise worth of coffee...I HATE coffee, Mt Dew is my drink.
mac at 1:38PM on Jul 2nd 2008
2. People whine about Starbucks prices, but a regular House Blend coffee at my local one is $1.85, pretty normal anywhere. Obviously some folks have to have their fancy drinks at $3 and $4 a pop. But I am sure it is the sagging economy. Lately there has also been no waiting for a table on a Friday night at any decent or average restaurant. Something has to be going on.
David S. at 1:40PM on Jul 2nd 2008
3. I don't think it is a matter of them 'hurting' per-se as much as it is a simple matter of market over-saturation. Can any business do well with locations that are practically in sight of one another?
Keith J. Mohrhoff at 1:58PM on Jul 2nd 2008
4. David S. makes a pertinent observation.
Captain Negative is nothing if not a man of the people. There are fewer people out and about to be, well...."of."
The local mega-mall isn't crowded. Rush hour isn't as much of a rush. Restaurant tables, as David S. noted, are readily available - and not just at the high end restaurants.
When I see an over-compensating guy driving a giant-ass pickup truck, I just laugh. Have fun trading that monster in, macho boy. People driving massive "hummers" around just look ridiculous. Most of them never even leave the pavement.
I can buy two pounds of Folgers for the price of two cups of coffee at Starbuck's. Good-bye, Starbuck's.
If you have nothing more important to worry about than your favorite Starbuck's possible closure, you are either slow or decadent.
Captain Negative at 2:39PM on Jul 2nd 2008
5. Did you know, or do you care -- coffee is the 2nd most traded commodity in the world -- right after oil. Found this fact on the dunkin' donuts website.
hula doctor at 7:00PM on Jul 2nd 2008
6. Well, I'm not a big coffee drinker. I had my first cup of coffee in the military. One gulp and I knew why they called it "a cup of mud". The stuff tasted so bad, I threw away the cup too.
I've never been to a Starbucks, so store closing's don't bother me. There's a Barnes & Noble in my town. I typically eat a piece of pie and drink a cup of coffee while Mrs. Willet orders a book or something. Their coffee is OK. I mean, unlike when I was a kid in the military and drank a few cups, I don't lose my sense of taste and smell for a few days after drinking a cup.
Willet at 4:04PM on Jul 2nd 2008
7. Hello. Are we totally stupid. The price of gas affects everything we do and buy and we're talking about starbucks closing a few stores. We're on the verge of reccession because fo the price of gas and our do nothing congress holds 2 hearings then promply takes their summer break. This is what we should be talking about. Start drilling. Period. Arab countries and the far left have held us hostage for far to long and look at the results. You can't blame this quagmire on the president.
Don Stagnaro at 6:22PM on Jul 2nd 2008
8. i remember the days when starbucks was doing its level headed best to take over the coffee world. i like a decaf carmel machiatto every once in a while, but since they got rid of their irish cream, i've been at gloria jeans. :) plus, with every fast food and doughnut shop in america trying to hock their brand at nearly $2 LESS than what starbucks wants, i can see where their idea is coming back to bite them in the arse. frankly, i'd rather brew my coffee at home. it's cheaper and it tastes better b/c i clean out my pot after every cup (i only brew enough for myself b/c my husband doesn't like it). a clean pot, is a good pot. plus, if you look in the coffee aisle at the store, there are lots of different coffees to choose from and some flavor mixers (and a few are even good iced! nestle makes one that will knock your socks off!) that are so cheap, going to starbucks is like shooting yourself in the foot! if you HAVE to have some starbucks, they do sale their stuff ground by the bag just like everyone else. save your money america!
Devynn at 6:23PM on Jul 2nd 2008
9. Well this is another black mark on Bushes republican's economical programs. I started drinking plain black coffee at 25 cents a cup ( with unlimited refills ). So I feel like I'm being held hostage at gun point ( bless the NRA ) when I purchase Starbucks coffee. The other coffee drinker who was dissatisfied paying 1.85 cents for his regular Joe's coffee with only 1 refill ( if he's lucky ), has my sympathy.
Bushe's inflationary economical situation has placed a hardship on a business that sells a legal drug at an inflated price. So if Starbuck's has to downsize by 20%, I hope the they learn their lesson. About how America will not be held hostage when they want to purchase a never simple ( foaming milk $ flavoring etc.. ) cup of coffee in a economical recession ( blame Bush ) purchasing a inflation dominated cup of ( name your favorite country's coffee beans ) coffee!
Ha Ha have a nice ( recovering legal drug addicts ) day....
Traamp at 7:26PM on Jul 2nd 2008
10. I prefer Barney's specialty coffees. Starbucks was always a screw job to the wallet and the beans over roasted.
JefFlyingV at 3:25AM on Jul 3rd 2008
11. Traamp
The price of Starbucks coffee has absolutely nothing to do with the "Bush administration"! Starbucks was expensive before Bush. It is considered "gourmet". You are paying for the name. I drink Starbucks occasionally, like when I want mocha. Initially, I would not go there because I hate chains. They force independent stores out of business. I have seen mom and pop stores, as well as family owned department stores close. I finally accepted the fact that there was nothing I could do about the huge corporate monsters. I frequent family owned businesses when possible. I am glad that Mill Mountain Coffee House in Roanoke, VA is still open. They have great coffee and desserts; locally owned and operated! I use to go there in college.
janesophie1 at 10:25AM on Jul 3rd 2008
12. It doesn't bother me. I don't drink coffee. I drink hot tea. It must be the English in me. Give me a cup of Early Grey any day, as opposed to a latte or cup of Folger's.
Kent at 11:01AM on Jul 9th 2008