Starbucks will be closing 600 stores according to a press release. The 600 also includes the 100 stores they planned on expanding to this year. The coffee retailer is feeling the pinch of the economy and underperforming stores will be taking the hit.
The CEO is also putting all new employees thru new training to enhance the Starbucks experience. I haven’t been in a Starbucks in a while, but hope my local Starbucks won’t be closing down. Here in California I’m sure many of the stores will be staying open – I hope.
I can’t help but think about the multiple Starbucks that pepper Dupont Circle back in DC. Honestly they all seem to be full of people trying to get their caffeine fix or trying to get WiFi – so it will be interesting if they consolidate.
On a personal note, I have been feeling the pinch as well. Things have been pretty tight with me but hoping that things will let up soon. Gas prices are between $4.55 and $4.80 per gallon. Ugh. With summer being here, electricity also goes up.