Starbucks Sales up; Store Traffic Down
Uh-oh; Starbucks has reported that its traffic has dropped in its stores, by 1%, spooking investors. The 9 cent per cup price increase apparently was the cause, although it also raised same store sales by 4% in the process.
The coffee giant has lowered its growth estimates from “Try to take over the coffee world soon” to “Try to take over the coffee world a bit later”. They are still growing sales and stores fast as they lay down a new store and open its doors about every 5 hours throughout next year. Poor Juan Valdez, that donkey of his must be tired if he has a hand in delivering any of the coffee to this growing giant.
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Posted by Scott Martin at November 16, 2007 6:20 AM