Starbucks closes 600 stores

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Starbucks closes 600 stores

starbucks_cup.jpgStarbucks, the gourmet coffee retailer said today that it had drastically increased the number of stores it plans to close, citing in part continued weakness in the U.S. economy. Starbucks now plans to close 600 stores in the United States, up from its previous plans to close 100 stores. Additionally, StarBucks said it now plans to open fewer than 200 stores in its coming fiscal year.

Apparently, with high prices for oil, gas, and food, something had to give -- luxury items like $4 cups of coffee were apparently the first to go.

Where does one get a caffeine fix now? I guess Dunkin Donuts. Wonder how their stock is doing today? Probably shot up.

Also, I wonder if high oil prices wasn't the cause, but perhaps this...


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