Starbucks closing cafes; CEO calls performance 'not acceptable'

I'm not only sharing this with you to prove my point in this thread about how debt to income ratio and inflation has literally priced everyone out of the market.

But I also wanted to gloat about my prediction in this thread about how and I quote...

Something tells me sales haven't been great this year as people are no longer as commit to the chain as they once were. Also, I find it odd that the former Chairman and CEO of Jcpenney is being appoint chair of Starbucks.

ATS

I know I know it's because everyone has a cellphone and 45k car. Now check this out...

Reuters

(Reuters) - Starbucks Corp (SBUX.O) forecast on Tuesday slower sales growth than Wall Street expected this quarter and plans to close about 150 U.S. cafes next fiscal year to boost performance, sending its shares down 2 percent after hours.

People just can't afford $5 coffee drinks and I don't blame them. Inflation is crushing the market. There is a bear market in the making right now.

RUN FROM THE BEAR!!

People just can't afford $5 coffee drinks and I don't blame them. Inflation is crushing the market. There is a bear market in the making right now.

RUN FROM THE BEAR!!

What??? Another bear market?? I'm already crushed by the crypto bear market, this means I will have to run from 2 bears lol. FML

People just don't want to spend $5-$7 for a drink.

a reply to: IncessantOptimist

you run from a bear market to crypto that's how it works...

a reply to: Bluntone22

if they could afford it they would keep doing it trust me especially white and Asian women

a reply to: toysforadults

I dunno Starbucks is alive and well in my neighbourhood. There are 7 of them within a 10 minute walk of my place. 3 of them are literally on one intersection all across from eachother.

Will the toilet's still be available?

Gotta use the toilet's!

They have to stay open for the toilets!



Great.


Now I have to pee.

Set ridiculous prices get ridiculous results.

a reply to: dug88

just because a store looks busy when you're there doesn't mean the overall health of the company is good

150 stores? thats nothing really for starbucks...unless this is just the start.

a reply to: autopat51

they probably lost their business to Amazon

Close them all.
Overpriced garbage.

a reply to: RazorV66

Then we'll have packs of roaming baristas writing names on cups and putting rings in their noses.


Do we really want that?

Is that the kind of society we need???

the dollar has been in constant devaluation for many MANY years. its all part of money based on nothing.

originally posted by: DBCowboy
a reply to: RazorV66

Then we'll have packs of roaming baristas writing names on cups and putting rings in their noses.


Do we really want that?

Is that the kind of society we need???

We already got that now.....I have seen a lot of women with nose rings as I am out and about.
Who could be telling them that putting a ring in their nose is attractive?
The ring on one side or one nostril is better looking than right in the middle though.

a reply to: RazorV66


I saw bulls with rings through their noses so they would behave and not get unruly.


I wonder if their menfolk make them get the same.

a reply to: toysforadults

It has nothing to do with anything you are claiming economically and everything to do with their business model and their corporate stance.

Starbucks.

Worst business model ever.

I can go to a restaurant and for under a buck have a bottomless cup of coffee poured for me in the first minute before the menus arrive.

So some genius decides to charge 500% more for a cup of coffee that takes ten minutes to get while you get to listen to a lecture on white privilege from a barista that you have older underwear than.

Run by a guy that flat out tells America that if you have a certain political viewpoint, then they don't need your money.

But yea... they are losing money because of inflation.

a reply to: toysforadults

CEO calls performance 'not acceptable'

I think we're dealing with a combo-deal here. Being an overt liberal apologist corporation coupled with charging like a wounded bull for a coffee will result in a declining business because it's 2018 and folks clearly don't like their coffee or politics.

If they want to survive, they'll have to reevaluate their prices versus folks' willingness to pay those prices or even frequent their stores given their recent reactions to 2 black fellas being kicked out.

Every action has an equal and opposite reaction.

originally posted by: toysforadults
I'm not only sharing this with you to prove my point in this thread about how debt to income ratio and inflation has literally priced everyone out of the market.

But I also wanted to gloat about my prediction in this thread about how and I quote...

Something tells me sales haven't been great this year as people are no longer as commit to the chain as they once were. Also, I find it odd that the former Chairman and CEO of Jcpenney is being appoint chair of Starbucks.

ATS

I know I know it's because everyone has a cellphone and 45k car. Now check this out...

Reuters

(Reuters) - Starbucks Corp (SBUX.O) forecast on Tuesday slower sales growth than Wall Street expected this quarter and plans to close about 150 U.S. cafes next fiscal year to boost performance, sending its shares down 2 percent after hours.

People just can't afford $5 coffee drinks and I don't blame them. Inflation is crushing the market. There is a bear market in the making right now.

RUN FROM THE BEAR!!

Yup. That bear is just the true incarnation of pure evil nowadays, yes?

But, as you mentioned, your forethought precedes you honorably, and I'm in complete agreement as to it's unquestionable gloat-worthyness.

I think that Starbucks has arrived at crossroads. Naturally, it's willingness to be cowed by the left would leave a bad taste in the mouth of it's more conservative patrons, but I think that the level of abject cowardice and absolutely inane lack of backbone that was recently demonstrated by Starbuck's company leadership actually had an impact with a lot of it's more liberal-leaning customers.

On the other hand, maybe it's the $5.00 cup of coffee that's the culprit here.

Let's see what happens.

originally posted by: toysforadults
But I also wanted to gloat about my prediction in this thread about how and I quote...

You wanted to gloat about being correct in a thread from this month about Starbuck's slowing sales when they had 5 out of 6 quarters with lower year over year growth already reported and in the books?