Nov
16th
Fri
16th
Too Much Coffee
Forget the housing market. An even better sign of impending economic disaster is the fact that fewer people visited Starbucks last quarter.
Starbucks Corp. said Thursday its fiscal fourth-quarter profit jumped 35 percent, though its first-ever drop in U.S. traffic sent shares plummeting.
The world’s largest specialty coffee retailer said it plans to open 100 fewer stores in fiscal 2008 than originally forecast but it brushed aside suggestions that it has oversaturated some markets.
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