It’s not just the feds who are releasing their budget this week. It seems that both coffee dealers and buyers are doing an analysis of their pocketbooks and retro snappy purses, including the infamous Seattle-based Starbucks. Because of overexpansion that caused what is referred to as “cannibalization” (starbucks eating starbucks, or competing with itself) as well as competition from fast-food chains, Starbucks is scaling back and shuttering stores.
After initial cuts last year, Starbucks intends to close down 300 of their underperforming stores across the US this year, which could mean a loss of 6,000 jobs (and dental)
that Starbucks has been pumping out since it swept across city blocks a few years ago. Yet another reason to grab your daily dose at a local fair-trade coffee shop. While companies like the big SB are looking at share prices, local roasters are just dealing in beans.
image courtesy of KALADI COFFEE