More Coffee?
Starbucks is closing 150 stores, and General Electric has been removed from the Dow Jones Industrial Average. That’s a big day. Perhaps Americans have enough coffee, perhaps Starbucks has achieved their growth target, or maybe it’s just a sign of the times? After all, old brick-and-mortar retail is suffering, and while you cannot buy a cup of coffee on the Internet (yet) there is plenty of competition over the coffee space, and consumers might be tiring of paying eight dollars for a product that they can get at home with a Keurig or someplace else cheaper. Perhaps they are coming to their senses? Or, perhaps I give consumers too much credit? Either way, the joke about a Starbucks across the street from a Starbucks is too real to ignore, and it might be time for them to step back and try to re-invent the company in some way. It’s coffee, after all, and how much renovation can they make? As for investing in SBUX - if it gets to $48 start sniffing around. Now,...