Starbucks ($SBUX) reported weak quarterly earnings and slightly higher sales Monday, as American consumers cut back on the number of expensive coffee beverages they purchased.
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In the quarter, Starbucks reported an 8% drop in sales at U.S. stores open a year or more, a measure known as same-store sales. Starbucks said that it has seen less consumer traffic in the U.S., in addition to a decline in the average value per transaction.
You know, that's one thing I've cut back on a bit. I used to buy three or four mochas a week. Now it's just a couple a month, and the smallest size!
How about you? Still have the Starbucks bug?
I bet another thing cutting into their sales is competition. McDonalds now sells coffee drinks for a lower price, and their earnings are going gangbusters. Then you have the other coffee vendors here and there.
Testing out emailing an HTML file and picture to Blogger to see what it does with it. I'll be out of the office for awhile coming up and testing other ways of blogging.