Starbucks Headed into a Very Tough Year

Starbucks financial economy in 2009
Photo by kristi.nicole via the LAist Featured Photos pool on Flickr

As you head out to get that cup of joe this morning, think about this:

The deteriorating world economy will slam Starbucks Corp. next year, company officials warned in a filing with the Securities and Exchange Commission.

“The company will face an extremely challenging fiscal 2009 because Starbucks customers may have less money for discretionary purchases as a result of job losses, foreclosures, bankruptcies, reduced access to credit and sharply falling home prices. Any resulting decreases in customer traffic or average value per transaction will negatively impact the company’s financial performance,” officials at the Seattle coffee giant (NASDAQ: SBUX) warned.

Of course, here at LAist, we're always looking for good local coffee shops. We asked friends where they liked to go and blog or work or whatever they do and this is what they said:

  • Funnel Mill in Santa Monica
  • 18th Street Cafe in Santa Monica
  • Groundwork in the Arts District
  • Banquette in Downtown
  • Sabor y Cultura in Hollywood
  • Lulu's Beehive in Sherman Oaks
  • M Street in Sherman Oaks
  • Busters in South Pasadena

You've probably got your own idea of an excellent indie coffee shop in your neighborhood. Add it to the list by commenting below!

h/t Fast Food Maven for Starbucks link

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Comments (14) [rss]

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I'd say Priscilla's near Burbank's border with Toluca Lake.

They have a great selection of tea but be warned, the quality of the espresso coffee drinks depends greatly on the person on the counter.

That said, no matter who the person behind the counter, they are always extremely friendly and the environment is very laid back with a varied crowd. If its your thing, proximity to the studios often results in impromptu filming for TV shows and movies that need a "coffee shop" set-up.

Jennifer's Coffee Connection in Studio City. It's always had everything I want: awesome coffee, comfy chairs, and free wi-fi.

Since I'm stuck out here in the west valley, I go to The Daily Grind. Friendly people and pretty good coffee. I would prefer Pricilla's (#1), Aroma (#2) or Jennifer's (#3), if I lived in the SC/TL area.

Cycleway! Great ambiance, great coffee. They will even make whatever hot espresso drink on the menu a blended beverage.

I looove the coffee at Amandine. And the croissants. I just made myself coffee hungry.

Coffee and blueberry scones at Susina on Beverly next to Starbucks!

Chango on Echo Park Avenue and the Downbeat Cafe are my favourites in the Echo Park area.

http://www.thedownbeatcafe.com/

http://www.myspace.com/changocoffeehouse

Gee, I almost shed a tear about Starbugs. Honest, I felt my eye (only one mind you) get moist.

Then I laughed my butt off.

Really, I like local business as much as the next guy, but what is this post about? F*ck Sbux? Abandon ship because the Starbucks next door might close? This is the kind of panic that leads to them losing even more money.

But then, if that's your goal, just say so.

I don't go anywhere except for LAMill and Intelligentsia. LAMill has actual food and better prices on cups of coffee, but Intelligentsia is walking distance from where I live. I frequent Psychobabble if I need to grab a sofa and do work. They have great tea, but their coffee is pretty miserable.

Stir Crazy on Melrose/Orange or the coffee shop at the Red Cat Theatre serves Vivace from Seattle.

Cafe Balcony -- on Rochester Ave. just off of Santa Monica Blvd, near the psychic place !

For take out only I would recommend Porto's in Burbank @ Magnolia/Hollywood Way. The cafe con leche is tasty and the pastries fresh. Though because of its size the atmosphere is not conducive to relaxation at all.

Groundworks on Rose in venice pulls great espresso, they step correct.

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