Will We See More Starbucks Closings?

The buzz about Starbucks from last week’s Quick Poll may be hard to swallow for fans of the ubiquitous coffee chain, with more than eight in 10 (84%) respondents choosing “yes” as an answer to the question, versus a mere 16% who seem to believe the slew of recently announced closings will suffice. Jim Hughes, a transactional attorney with Greenberg Glusker who specializes in real estate, believes that whether there are more closings, the move to reduce the number of stores is a smart one for Starbucks.

I think that this is frankly an excellent business move for Starbucks. Starbucks is a premium brand that has become a little over extended. They’ve made coffee upscale, and in that, they’ve done something that the brands like Duncan Donuts and others weren’t able to do, and they’ve stuck a chord with consumers. But you literally have a Starbucks in a grocery store a couple doors down from a standalone store. I was concerned just by the proliferation of stores in the last year or so, that they were diluting the brand and overextending themselves.

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