NEWS
April 11, 2009
Starbucks to close 7 Maryland stores Starbucks Coffee Company said this week it is closing 195 stores across the country, including seven in Maryland, as consumers worried about the economy continue to cut back on luxuries such as gourmet coffee. In the Baltimore area, the Seattle-based company will close a store at Westfield Annapolis mall as well as the location at 300 N. Charles St. in downtown Baltimore. Starbucks has more than 200 stores in Maryland. Andrea K. Walker China's reserves at $1.9 trillion BEIJING : China's central bank says its foreign exchange reserves rose 16 percent year-on-year to $1.954 trillion by the end of March.
NEWS
By Michael Muskal | January 29, 2009
Starbucks Corp. said yesterday that it will eliminate about 6,700 jobs because of the difficult economy. The company becomes the latest to announce job losses and joined major employers such as AOL and Boeing yesterday in detailing layoffs to cope with the current recession. Starbucks said its profit dropped 69 percent in its fiscal first quarter, to $64.3 million. Starbucks said it will close 300 underperforming stores in addition to the 600 it already planned to close in the United States.
NEWS
By The Wall Street Journal | July 22, 2008
Now that Starbucks Corp. has disclosed the 600 locations it wants to shutter, a phenomenon is taking hold: the Save Our Starbucks campaign. In towns as small as Bloomfield, N.M., and metropolises as large as New York, customers and city officials are starting to write letters, place phone calls, circulate petitions and otherwise plead with the coffee company to change its mind. "Now that it's going away, we're devastated," said Kate Walker, a facilities manager for software company SunGard Financial Systems who recently learned of a store closing in New York City.
NEWS
By Ethan Lewis | June 29, 2008
"They should put a surgeon general's warning on coffee," I once said in jest. But it's not a joke. Whether you're a writer like me, a businessman, a sales rep, a news anchor, an airline pilot, a cop, an orthopedic surgeon, a tax attorney, a pop star or the girl who gets propelled 20 feet in the air by a dolphin at SeaWorld - whoever you are, you're probably a member of the Coffee Club. And if you're not, you will be soon, because when Dunkin' Donuts first coined its motto, "America runs on Dunkin," it wasn't far off the mark.
NEWS
By JAY HANCOCK | May 4, 2008
Profit at coffee megachain Starbucks fell sharply in the first quarter, and the company also missed Wall Street's expectations and said it was cutting back on U.S. store expansions. Starbucks made 15 cents a share when analysts had expected 19 cents, on average. Profit fell 28 percent for the first three months of the year compared with the same period in 2007. The company blamed the recession. Doesn't everybody? "Fiscal 2008 is a transitional year for Starbucks, and, while our financial results are clearly being impacted by reduced frequency to our U.S. stores, we believe that as we continue to execute on the initiatives generated by our transformation agenda, we will reinvigorate the Starbucks experience for our customers, and in doing so, deliver increased value to our shareholders," company boss Howard Schultz said in a rather breathless sentence in a news release.
NEWS
By BILL ORDINE | April 16, 2008
There is understandable angst in Seattle now that the SuperSonics appear closer to becoming the Oklahoma City Wranglers or whatever. And it's also understandable that Seattle fans are looking for any glimmer of hope that carpetbagger owner Clay Bennett can be derailed in his bid to relocate the franchise. There's pending litigation initiated by the city to keep the Sonics in Seattle, and just yesterday came word that the team's former owner, Howard Schultz of Starbucks fame and fortune, plans to file suit to regain the team, contending that Bennett bought the club under misleading circumstances.
NEWS
By [JENNIFER CHOI] | January 24, 2008
MammoJam The lowdown -- The Reserves, Virginia Coalition, Erin McKeown and Offbeat Magazine's 2007 "Performer of the Year" Trombone Shorty & Orleans Avenue will play at the fifth annual MammoJam Music Festival at the 8x10 Saturday. The event, which supports the fight against breast cancer, includes a silent auction and catering by local restaurants. If you go -- The festival runs 6 p.m.-midnight. The 8x10 is at 10 E. Cross St. Tickets are $40-$50. VIP packages are $80. Call 410-456-2614 or go to mammojammusic festival.
NEWS
By SUSAN REIMER | January 1, 2008
In keeping with the tradition of reviewing the old year, as we begin a new one, I am offering a look back at some of the topics that have appeared in this space under my name. It is a chance for me to share with faithful readers what happened next. For a holiday column, I wrote about the efforts of a handful of Starbucks managers in the Annapolis area to collect coffee for the troops overseas. They asked their regular customers to buy a pound of beans and donate it, and the Starbucks employees, who receive a free bag of beans each week as part of their benefits, donated theirs.
NEWS
By Stephen Kiehl | November 23, 2007
In Baltimore, where the scarcity of Starbucks was elevated to the level of civic crisis just a few years ago, residents are now drowning in a frothy flood of gingerbread lattes and gasping for air under a mountain of cinnamon scones. The Seattle coffee giant has opened three stores in Baltimore in the past three months, the result of years of lobbying by the city and a recognition by Starbucks that Baltimoreans are as willing to pay $4 for a macchiato as anyone else. This, civic leaders say, is a good thing.
NEWS
By Melissa Allison | November 17, 2007
SEATTLE -- Starbucks launched its first national television advertising campaign yesterday to drive more people into U.S. stores, which saw a 1 percent falloff in traffic last summer. U.S. sales still rose 19 percent, partly because of a 9-cent price increase on coffee drinks, according to Starbucks Corp.'s fourth-quarter earnings released Thursday. The first-ever traffic decline has executives worried, and they announced several broad initiatives: conducting a prime-time TV campaign between now and Christmas, having district managers spend more time in stores and cutting back on the variety of drinks they serve.