Starbucks Headed into a Very Tough Year
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