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Wednesday, July 30, 2008

Loss of 6.7 Million StarBUCKS

WallStreet Fighter Reports:

For the first time since the company went public in 1992, Starbucks has announced a quarterly net loss.

Last year at this time, Starbucks announced a quarterly profit of $158.3 million, but now it's a $6.7 million quarterly loss. Oh how the mighty have fallen in these dark recession days.

Is there any non-essential luxury item consistently being purchased in this era? Now that porn is out, maybe cigarettes?

In spite of this news, Starbucks shares traded 5% hirer today because many investors are happy that many store locations are closing. Even their own investors think they have too many stores. So we're all in agreement now - that Starbucks across the street from another Starbucks plan was a bad idea, right?

Better get out and use that FAKE free drink coupon before anything worse happens to the coffee kings. That is, as long as your local 'Bucks is still alive and brewin'.