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| SBUX has lost "coolness" | ||
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Loyal diehard SBUX followers just won't acknowedge this weakness or
even worse how the company has become a joke punchline. They opened yet another SBUX near my home (must be 50 within a 10 mile radius) and the store was nice enough to be a PR sponser for our towns 4th of July celebration. While in line, everyone cracked up when the SBUX guy handed a "free" cup out to a guy and said "that'll be $4" and the fellow shot back with "oh, half price today?". It appears that SBUX has become somewhat of a joke reflecting all the excesses we've enjoyed over the past decade+. Sorry but the $4+ cup of specialty coffee is going to the same place as the 12 MPG Yukon XL. Not saying SBUX is going under but certainly their NA business isn't going to improve (anytime soon). The other morning when I had to run to the local mall. Walked past the SBUX (in the most prime center of mall location) at 10:30 a.m. and there was not a single customer in the large store (not even ordering). And I'm low-ball guessing this is a $20K/month lease. How long can they financially weather this kind of downturn? Not wishing for this company to fail but think (if you're an investor) it's time to smell the bitter coffee. |
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