Starbucks Is Closing 600 Shops
Can you believe the once darling of the left crowd is closing 600 stores. Not only that, but 12,000 people are losing their jobs. Why? Because the stores are either under performing or are not anticipated meet profit expectations.
The pundits are saying that Starbucks built too many coffee shops and they built them too close together. Not to mention that there is too much competition with other outlets like McDonald’s. Yep,you heard it right, the pundits are saying that people are starting to go get their coffee at McDonald’s instead of Starbucks.
I guess the real reason is that in this economy, $4 coffee is an unnecessary luxury.
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