Starbucks warned last night that 2009 would be a very tough year.
“As a retailer that is dependent upon consumer discretionary spending, the Company expects to face an extremely challenging fiscal 2009 because of these economic conditions.”
Starbucks did say that it expects to end 2008 with 20 fewer stores in the U.S. but expects to have added 700 stores overseas.
We’ve heard this story many times — U.S. business stinks, Asian business is great.
Related Posts
- Starbucks roars into China (07/16/08)
- China GDP growth to slow to 9.9% (07/22/08)
- Fast food takes off in China (06/23/08)
- Ralph Lauren makes big China push (08/31/09)
- Best Buy chops China plans (06/18/08)
