Support for LAist comes from
We Explain L.A.
Stay Connected

Share This

News

Starbucks Headed into a Very Tough Year

LAist relies on your reader support, not paywalls.
Freely accessible local news is vital. Please power our reporters and help keep us independent with a donation today.
5b2c5c1d4488b30009281049-original.jpg

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.
Support for LAist comes from
We asked friends where they liked to go and blog or work or whatever they do and this is what they said: