The company’s stock price was slashed almost in half this past year. And store traffic slipped last quarter for the first time since the company went public.The piece also notes the rise and decline of the Starbucks "third place" concept:
Eventually, Starbucks conceived the “third place,” after home and work, where one could indulge hot coffee in a soothing setting, including cozy chairs and eclectic music. Today, about 80 percent of purchases, though, are consumed elsewhere.Read the entire piece: Starbucks: Cool or a commodity?
“They’re not the only third place,” [JWT Worldwide (advertising) trendspotter Marian] Salzman said. “They’re kind of a generic third place.”
January 30: Matt Andrejczak (from MarketWatch) has written an article that further details Starbucks plans to trim their number of stores by one percent.
Read the entire article: Starbucks profit slows as U.S. business weakens
January 31: Elizabeth Gillespie (from AP Business) has written an article that notes plans by Starbucks to reduce some of their menu items. The piece also notes that the company, which now has some 15,700 stores worldwide, is slowing its plans to open new ones.
Read the entire article: Starbucks axes sandwiches as part of fix
March 19: Lisa Lisa Baerlein (from Reuters) discusses Starbucks plans for a turn-around amid the nation's economic woes.
Read the entire article: Starbucks CEO sees economic tailspin