It’s a happy day for those who feel that Starbucks has taken over too many corner storefronts in the world. The Seattle-based empire o’ lattes has announced it will close 600 stores—up from an initial estimate of 100 (that’s 19 percent of domestic outlets that opened in the last two years).
Most of these stores are located near other Starbucks outlets, which left the original stores’ clientele “cannibalized.” According to an article in the Seattle Post-Intelligencer, “analysts had wondered whether Starbucks’ explosive growth in the U.S. would come back to haunt it as the market became saturated.”
And it’s probably no help that many financial experts say one of the easiest and best ways to save a little bit of cash is to break your Starbucks habit.
For those of you who are Starbucks fans, fear not. There will still be 16,226 stores around the world, give or take a few. And there are plans for more, though expansion numbers for 2009 have been cut in half.