The collapse of Starbucks is truly insane:
1. Company wide same store sales fell 4% and traffic fell 6% this quarter
2. In China, same store sales plunged 11% with an 8% decline in the average order
3. International same store sales FELL 6% while a 1.4% GAIN was expected
4. Management lowered revenue growth guidance from 7% to low-single digits
5. "Most loyal customers are looking for discounts"
What happened to Starbucks?
Even the company's most loyal customers are looking for discounts.
Consumers are cutting back on spending and expensive coffee is a luxury.
All while international sales have completely fallen off a cliff.
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- CuritisCissie·05-06It seems that Starbucks is facing some tough challenges.LikeReport