The New York Times article today said that Starbucks reported their earning dropped 21% last quarter. The company blamed the rough economic environment. I am not surprise, frankly. Starbucks is a treat that I don’t often indulge in. There are higher priorities right now, like buying gas.
Starbucks’ chairman, president and chief executive, Howard Schultz, said there are plans to turn things around, like cutting costs and introducing a line of fruit smoothies. Not a good move, Mr. Schultz. If times are tough, go back to the basics. When I think fruit smoothies I do not think Starbucks. Go back to what intially drew people to your stores. How about lowering prices as a way to entice people back? That may work.
Have cut back on the lattes? Would a fruit smoothy bring you back in?