Starbucks Announces Major Store Closures and Layoffs: What's Going On?

[youssef5070]

https://oopsthathappenedd.blogspot.com/

[malaise]

1. I'll take Coffee tariffs

for a true Daily Double Ken

[no_hypocrisy]

2. Price of coffee has at least doubled.

That might be a variable.

[Chipper Chat]

3. Locally It's competition from 7Brew.

[Silent Type]

7. We had one open up a few months ago, it's always packed. Haven't tried it because lines are long.

[durablend]

4. A few hundred stores closing out of tens of thousands is nothing

[sakabatou]

5. Coffee costs too much, so many are making it at home or from other stores

[somsai]

6. The cost of the coffee is irrelevant

A double espresso might cost 10 cents more in materials.

People are earning and spending less. All restaurants have seen a drop off in customers.

[Silent Type]

8. Like drug stores, they are overbuilt and expensive coffee is one of first things people cut back.

[Conjuay]

11. They overbuilt, for sure.

Visiting the Kids in Seattle, we took a boat cruise. At one point the captain stops the boat and announces, "From this spot, you are within one half mile of 350 Starbucks locations."
So yeah, overbuilt, and not an especially good product.

[hatrack]

9. Starbucks pretty much defines "discretionary" . . .

See also: Las Vegas, Disney World, replacing a 3-year-old car with a new one, weekly trips to Applebee's, bouncy castles for your 1st-grader's birthday.

Jobs are drying up, inflation's roaring, and any number of things have got to go.

[SunSeeker]

10. Exactly. I'm using k-cups now. It's just as good and more convenient, at only 50 cents a k-cup. nt

[Buckeyeblue]

12. People are realizing Starbucks coffee is not good

Caribou, Bigby, even Duncan has better coffee than Starbucks.