Starbucks to close 600 stores

[33girl]

Sorry everyone, you're going to have to walk an extra block to get coffee.

http://news.yahoo.com/s/ap/20080702/...ks_closings_18

You would think they would have learned from the Krispy Kreme debacle that super rapid expansion = bad.

Sad news for those who enjoy overpriced coffee.

I'm glad I'm not one of them!

[Munchkin03]

Then why have they opened 2 stores within 2 blocks of my office, not including the other 4 within a 2-block radius?

For real, though...where are these stores being closed?

Originally Posted by Munchkin03

Then why have they opened 2 stores within 2 blocks of my office, not including the other 4 within a 2-block radius?

For real, though...where are these stores being closed?

I have a feeling TPTB at Starbucks don't even know that yet.

[jojapeach]

I'm proud to be a Caribou Coffee fan, and I bet the people in their corporate offices are having a pretty nifty day.

33girl: Observing the Krispy Kreme debacle would've meant that the top brass at Starbucks was paying attention to the world. On a serious note, this is a HUGE clue on the times that are a-changing.

[Still BLUTANG]

as long as its not the drive through joint that's near my house i'm o.k. i'm in a college town so we'll probably not see any locations shuttered...

however, i wonder how many of the minority owned / magic johnson partnership starbucks will be closing? there is one that's not near me, but i visit it when i'm commuting to work AND actually have time to stop.

[tld221]

Originally Posted by Munchkin03

Then why have they opened 2 stores within 2 blocks of my office, not including the other 4 within a 2-block radius?

For real, though...where are these stores being closed?

According to Fox News, the epitome of fine journalism, over 70% of the stores closing are "underperforming stores that have opened after 2006."

so if youre store is relatively new, more than likely say bye-bye.

lord knows, NYC can afford to lose a couple locations. chances are theyll get replaced by DD or a Duane Reade. cause we surely need more of those.

[Benzgirl]

Originally Posted by jojapeach

I'm proud to be a Caribou Coffee fan, and I bet the people in their corporate offices are having a pretty nifty day.

33girl: Observing the Krispy Kreme debacle would've meant that the top brass at Starbucks was paying attention to the world. On a serious note, this is a HUGE clue on the times that are a-changing.

When I drank coffee, Caribou was my favorite. Starbucks always tasted burnt

[sigmadiva]

For me Starbucks is an occasional treat, so I'm not too bummed.

[epchick]

So they are going to close 600 stores starting from late July until mid-2009.

YET...they are planning to OPEN 200 stores by 2009, and open around 400 stores by 2010/2011.

Ok Starbucks

[AGDee]

The article I read about it (I think on CNN) said that the stores that will close have been on their "watch list" for a year. They've been watching these stores to see if their sales would increase and they have not, so they are closing.

Closing some stores in areas where there is a glut of them and opening new ones in areas where there currently are none would still make sense from a business perspective. What doesn't make sense is that they opened so many so close to each other to begin with.

[tld221]

Originally Posted by AGDee

The article I read about it (I think on CNN) said that the stores that will close have been on their "watch list" for a year. They've been watching these stores to see if their sales would increase and they have not, so they are closing.

Closing some stores in areas where there is a glut of them and opening new ones in areas where there currently are none would still make sense from a business perspective. What doesn't make sense is that they opened so many so close to each other to begin with.

can only speak for here, but there are some locations that are crowded ALL the time. you can wait 15 minutes just to order. other locations have little sitting room and you can never get a seat. Maybe locations in close proximity aimed to relieve the wait.

now i know you may say, ugh, its only 15 minutes, but in the here and now era of folks who want their Venti Non-no blahdity blah, like, yesterday, its enough to almost need that many locations so everyone keeps their (coffee cup) lid on.

[fanofflames]

Originally Posted by jojapeach

I'm proud to be a Caribou Coffee fan, and I bet the people in their corporate offices are having a pretty nifty day.

I use to manage a Caribou Coffee store, and I can definitely tell you that they are suffering worse than Starbucks. I do like Caribou Coffee better, but I moved a year ago to start grad school and there is no store in sight .

[preciousjeni]

I have a number of Starbucks opening in my county and seeking employees. Good luck, Starbucks. Low paying retail/service jobs are played out around here.

[PANTHERTEKE]

This only applies to retail stores, right?

Because my campus has 2 Starbucks and God forbid we're left with only one.

Nah but seriously, it's about time.