Monday, December 01, 2008

Economic times slowing Starbucks growth

Starbucks plans to grow cautiously in Britain, very cautiously. The economic times are a real bummer it seems.

Howard Schultz, CEO and Coffee Godfather, stepped out of retirement to chart Starbucks' rebound and in the process closed 700 stores in the United State and Australia.

Mr. Schultz wants to emphasize the goodness of Starbucks - its ethically sourced coffee beans, its social conscious and treatment of its employees:

“Our philosophy as a company has been overlooked because of our growth,” Mr Schultz said. “The foundation has been to achieve the balance between profitability and social conscience. The business model for Starbucks has been this balance between profitability and benevolence.” Starbucks was, for example, among the first American companies to offer comprehensive health insurance to workers and to provide stock options to employees, he said.

Read more at TimesOnline

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