Not long ago, cities were lousy with Starbucks. Well, they still are, I suppose. But now the Goliath that has signaled gentrification in neighborhoods has posted a profit loss of 97% this quarter. That’s a latte lattes. Sorry.
Now, the recent restructuring of the company that saw the closing of hundreds of Starbucks here and abroad seems to account for a large portion of this, but is the economy finally impacting peoples’ morning routines? Is $16.99 too much to pay for a cup of Joe? (I don’t drink coffee, so I don’t know: is that high?)
Must we start a Save Starbucks campaign like we did for the independent coffee shops that Starbucks elbowed out a few years back? Will that spur a proliferation of mom and pop cafes on every corner to take the place of their corporate cousin leaving us to complain about them? Would Starbucks appreciate the irony?
The real question, however, is this: if the company is doing so poorly, why is it I’m never able to find a a seat at my local Starbucks, like ever?