"Why are coffee sales slumping?" by Megan Woolhouse Globe Staff July 23, 2016
Too cold for me....
“If you’re an average Joe consumer, you might not feel as happy with the world as you did a couple quarters ago.”
That's the understatement of the century.
The question now is where are people buying their coffee instead. “Are they driving people to McDonald’s, Cumberland Farms, or Speedway?”
Analysts said both Dunkin’ and Starbucks may have raised prices in response to city and state mandated minimum wage increases.
That explains the bitterne$$.
Another factor that might have slowed in-store traffic at Starbucks is the summertime price hikes that have become a tradition for the chain in recent years, said Neil Saunders, chief executive of the New York-based retail research firm Conlumino.
Price gouging for corporations now a tradition in the AmeriKan $y$tem.
Starbucks’ chief executive Howard S. Schultz in a conference call with investors on Friday called the slow growth from April to June “an anomaly.”
“In Starbucks’ 24 years of public life, I can’t remember a quarter quite like Q3 of 2016, when a confluence of political and social turmoil at home, weakening consumer confidence, increasing global uncertainty, and the launch of one of our most significant long-term initiatives of all times all occurred within a single earnings period,” Schultz said, referring to the controversial revamping of the company’s loyalty rewards program....
At that point I spit out the rest.
Related: Dunkin’ blames weak revenue on price increases
Time for a break.