The End Is Near: 600 Starbucks Stores Will Close
A Brief Starbucks Chronology: Starbucks stock plunges. The breakfast sandwich is discontinued. The commemorative Pike Place logo, introduced in April, freaks people out and is nicknamed "Slutbucks." She is then yanked, replaced by the familiar mermaid logo. A new frozen drink debuts, in one of many attempts to rejuvenate the business.
Adding to the time line, the New York Times reported yesterday that Starbucks will close 600 stores in the United States and lay-off 12,000 employees. With the real estate market down and oil prices up, it makes sense that we'd be punished with less soy fraps—but still, wow.
[Update: Apologies, only 600 stores will close, not 6,000. The editors regret the error.]
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