http://www.theaustralian.news.com.au/business/story/0,28124,26079523-5018019,00.html
As a coffee drinker myself, I have never been a fan of Starbucks and its over-priced mediocre coffee. The article I read from the Australian explains that Starbucks has been facing a large drop in sales and has been closing hundreds of stores. McDonald’s has a billboard that says, “Four bucks is dumb,” mocking Starbucks’ high prices causing it to loose some of its consumers. However, after cutting back costs, firing employees, and closing stores, Starbucks is back on top and their shares have doubled this year. I found this article interesting because I wasn’t exactly sure how a major corporation like Starbucks works and how they can recover just by closing stores.
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