A slight improvement in the first few weeks of October may suggest, "perhaps, let's underline perhaps, we've bottomed out during the fourth quarter [which ended Sept. 30], but we're still negative," says CEO Howard Schultz. PLUS: Starbucks partners with Bono's Project RED label. || Read "Schultz says Starbucks may have hit bottom" || "Starbucks joins with Project RED"
With the economy the way it is...it's hard to imagine that peopel are kept going to spend on Starbucks...
Posted by: JonnySF | October 29, 2008 at 05:41 PM
Project RED Aprons for the holidays!!
Posted by: | October 29, 2008 at 06:44 PM
I am glad to see that SBUX is not UBER-Publicizing all of their hard work. This is not just a PR stunt and I love that we do things like this. I just wish I could be there right now.
Posted by: The ASM | October 29, 2008 at 07:00 PM
BTW JonnySF, what in the world does that have to do with the article above?
Posted by: The ASM | October 29, 2008 at 07:01 PM
Finally, Starbucks will help people will never get to drink a Venti(r) sugar-free vanilla soy dry cappuccino.
Posted by: BOSTON STARBUCKS REBEL | October 29, 2008 at 09:36 PM
If you think you've hit the bottom, you better look down!
Posted by: Bladerunner | October 30, 2008 at 01:02 AM
this is hysterical.
Posted by: verticalphil | October 30, 2008 at 02:21 AM
Well, to me it makes sense, what happened during the beginning of October.... gas prices dropped.
The relationship between Starbucks coffee sales and gas prices are very intertwined.
Posted by: UPod | October 30, 2008 at 09:49 AM
Starbucks is dying, management is in denial... the pain is just beginning.
Posted by: JJ | October 30, 2008 at 11:42 AM
I foresee Starbucks going into a bit of maintain mode. With the economy the way it is nationwide (and worldwide), shops might close down (so there is 1 on every 2 corners of your city only) and people will be a lot tighter with their wallets. Yes, they do have the natural addiction to coffee and the natural routine of visiting Starbucks in their hands, but I think people will look to reduce the costs of their cup-a-joe-a-day. I think it would be smart for Starbucks to try and boost their homemade coffee as a way to reach those people trying to be more practical in the short term.
Posted by: Curtis | October 30, 2008 at 12:31 PM
I don't need to look at the numbers to know that October sales have gone way up. I can tell by the lack of available parking spaces and the lines. Long lines.
I've also noticed that "venti" hasn't been the norm for a while. And "talls" have become much more common.
Posted by: spence | October 31, 2008 at 03:22 PM
I find this VERY hard to believe! Remember, Starbucks are the ULTIMATE spin-doctors. There was a time when landlords lured future tenants to their "strip-centers" with high rents, because there was a Starbucks (as an "anchor"). Falsely guaranteeing traffic to the center. In many cases Starbucks were given favorable concessions on their leases in return. Starbucks used this to BULLY many landlords. With Starbucks' mass closings leaves MANY landlords, not only with a vacancy but in conflict with other tenants. This has been a wake-up call for everyone. Starbucks is NO longer the "A" tenant of yesteryear. A result of LESS foot traffic!
Posted by: NoMoreLies | November 03, 2008 at 01:00 PM
Jonny, Last week I went into Starbucks @ 7:15 a.m. I normally am not in that time of day- usually afternoons or evenings. Even though those times have done well too I was NOT prepared for what I saw that morning. For over two hours I sat in amazement as a shoulder to shoulder line never let up. There were always at least 5-6 people in line and the drive through was packed. Most of them not only got their coffee but those $2 Ethos too! I knew that morning that our economy is just fine. Holidays here we come! Bring on the festivities and stop all the gloomers. It truly was amazing and exciting to see all those people buying all that coffee. I stopped late that afternoon in another location and it was just as packed. I am in the south too where everyone thinks we are not doing well at all.
Posted by: Callie | November 03, 2008 at 03:28 PM
It's worth noting that is was Q1 last year when business really started to tank for Starbucks. When Howard says that the company's comp sales bottomed out in the past quarter, he is comparing it to the last reasonably strong quarter Starbucks had. Thus, stating that while the comp numbers are still negative at the beginning of the current quarter they aren't as negative as they were last quarter, he is glossing over the fact that is it is relatively easier to look good compared to a bad period than to a good one.
Posted by: K-Dog | November 03, 2008 at 03:48 PM