SEATTLE-BASED COFFEE COMPANY TO SCALE BACK NEW STORE OPENINGS
FITSNews – May 1, 2008 – Faced with a grim fiscal forecast, Starbucks Coffee is scaling back its new store openings to accomodate America’s tanking economy. Instead of opening eleventy kabillion new stores this year, the chain will only open nine kabillion.
That was funny, right? Alright, we know it wasn’t funny but give us a break, people … it’s f*cking early and we haven’t had our Starbucks yet. Anyway, here are the actual numbers from the AP report:
Looking ahead at financial and operational growth, Starbucks again pared back the number of U.S. store openings planned for this year by 30 and said it would limit new U.S. stores to 250 per year in 2009 through 2011 … Starbucks added 266 U.S. stores in the quarter, and 470 outside the country, bringing the worldwide total to 16,226.
Apparently, Starbucks only made $2.53 billion in revenue during recently concluded fiscal quarter when it was supposed to have made $2.63 billion, according to Wall Street experts. Sounds to us like Number Two has some explaining to do …
