November 11, 2008
Tough times for Starbucks
The problems continue at Starbucks. After losing its ad agency Wieden & Kennedy last month, the coffee maker's problems continue as yesterday its shares fell. The group reported only a once cent a share profit, below Wall Street's target of 13 cents. While the brand did launch a new loyalty program last month, they have also been in the process of shutting down stores, which may have led to the losses. It's going to take more than loyalty in this weak economy to get the blood pumping again.