(C) BoingBoing
This story was originally published by BoingBoing and is unaltered.
. . . . . . . . . .



Starbucks sales fall as Americans sour on expensive coffee [1]

['Rob Beschizza']

Date: 2024-07-31

McDonalds reported its first decline in sales since the Covid pandemic, and Starbucks is suffering a similar fate, inasfar as they are both vastly profitable companies with customer-gouging margins learning the limits of consumer unthrift.

Starbucks sales dropped 3% globally at stores open for at least a year, including a 2% drop in its home North American market. And that masked how steep the decline was for Starbucks last quarter: Total transactions at North American stores open at least a year fell 6% in the quarter. That was offset, in part, by higher prices.

In other words: Fewer people are going to Starbucks and buying drinks and food. It was Starbucks' second-straight quarter of sales declines.

Starbucks' struggles reflect consumer fatigue with high prices at food chains, restaurants and stores.

[END]
---
[1] Url: https://boingboing.net/2024/07/31/starbucks-sales-fall-as-americans-sour-on-expensive-coffee.html

Published and (C) by BoingBoing
Content appears here under this condition or license: Creative Commons BY-NC-SA 3.0.

via Magical.Fish Gopher News Feeds:
gopher://magical.fish/1/feeds/news/boingboing/

You are viewing proxied material from magical.fish. The copyright of proxied material belongs to its original authors. Any comments or complaints in relation to proxied material should be directed to the original authors of the content concerned. Please see the disclaimer for more details.