A lat-te trouble for Starbucks.....

[marmar]

A lat-te trouble? Thanks people, I'm here all week. :+



from MarketWatch:



Starbucks warns Wall Street on current quarter
By Matt Andrejczak, MarketWatch


SAN FRANCISCO (MarketWatch) -- Starbucks warned Thursday it won't hit Wall Street's profit target for the quarter, due to declining comparable store sales.

Speaking to analysts in New York, chief financial officer Troy Alstead said Starbucks won't meet the current consensus estimate for the quarter but didn't indicate what the company will earn for the December quarter. Analysts, on average, expect the coffee-shop chain to earn 21 cents a share, according to FactSet Research.

Alstead said comparable store sales have dropped 9% since the current quarter began Sept. 29. While store traffic had perked up in October, sales deteriorated in November, he explained. The CFO said it was "too early" to predict fiscal first-quarter sales.

Comparable store sales are a measure of sales at stores open at least one year and a key barometer of a retailer's health. In California and Florida, which account for 30% of the company's U.S. retail sales, chief executive Howard Schultz said comparable store sales have fallen in the "double-digit" range as the housing meltdown has hit those states hard.

Starbucks is pushing to cut more costs as it grapples with the global economic slowdown, which has hurt store sales in the U.S., U.K., and Canada. The company plans to slash $200 million more in costs, raising the total expense-plan cuts to $400 million over the next year.

In another development, Starbucks said starting Jan. 2, sandwich chain Subway will sell the Seattle's Best coffee at 1,900 locations. Seattle's Best is a Starbucks brand. .......(more)

The complete piece is at: http://www.marketwatch.com/news/story/Starbucks-warns-Wall-Street-current/story.aspx?guid=%7BA508CC75%2D56F6%2D4DBC%2D8E68%2D7D8E9630926A%7D

[sakabatou]

1. Guess more profits for Peet's Coffee

[proud patriot]

11. Yum

:)

[dysfunctional press]

2. maybe if some of them close, we can rid the air of the coffee stench that permeates some urban areas

i am definitely NOT a coffee person.

[marmar]

3. Oh come on.....few things smell better than fresh roasted coffee beans.....

That's one of the scents that sends me into sensory overload.

[sandnsea]

5. Fresh baked muffins

and then if you get muffins AND coffee beans...

quick, catch me before I pass out from ecstacy..

[marmar]

8. LOL....

:P

[Deja Q]

7. Like me after eating Mexican food!

:party:

[misanthrope]

9. The smell of coffee brewing...

...mixed with the aroma of bacon frying and smoke from a fire I find intoxicating.

[Paulie]

10. Bacon

Is better. :)

[dysfunctional press]

12. it gives me a headache. i rank it down there with pipe/cigar smoke.

fresh-baked muffins on the other hand...

[Earth_First]

4. Perhaps a bailout is in order? n/t

[Doremus]

6. Boo hoo, the poor things will only earn 21 cents a share.

WTF?

Some companies are losing money, some are losing so much money they're closing.

I never did understand this Wall Street "we fell short of our projections by a few pennies so we're in deep doo-doo" crap. Hell, sometimes the whiz kids shutter locations that are making a profit just because it wasn't enough profit.

The word "enough" isn't in their vocabularies.

[dysfunctional press]

13. why can't starbuck's put in a soft-drink dispenser...?

SOME people prefer their bean-water to be refreshingly cold, carbonated, and infused with a sweet mix of sugar & citrus; rather than hot, flat and mixed with tepid bovine lactate...(look up how much bovine puss is allowed per unit of milk, and it will put you off dairy for awhile, at least):puke: