Under the headline Poor real estate decisions, not bad coffee, hurt Starbucks [1], the IHT analyzes the recent decline in fortunes of the ubiquitous coffee retailer.
Though the flagging economy and soaring gas prices are responsible for at least some of Starbucks's woes, interviews with commercial real estate brokers nationwide who work with the chain suggest another aspect of the story. These people say that the company was so determined to meet its growth promises to Wall Street that it relaxed its standards for selecting new store locations.
In some cases, brokers say, Starbucks misjudged the risks of putting stores close to each other, leading to the decline in same-store sales that the company started reporting for the first time in its history this year.
Or maybe the world didn't really need eight Starbucks within one block [2] of Grand Central Station, who knows?
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[1] http://www.iht.com/articles/2008/07/04/business/04starbucks.php
[2] http://www.starbucks.com/Retail/Find/LocatorResults.aspx?fs=1&loc=grand%20central%20station
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