Hey, joe.
Earnings are down at Starbucks. Now we know the dripping point…er, tipping point…for the caffeine junkies who buy their pricey joe from the gourmet coffee chain: When gasoline hit 4 bucks a gallon.
The annnouncement today that Starbucks is closing 600…count ‘em, 600 stores…and firing TWELVE THOUSAND employees…should come as no big surprise when the cost to fuel up on 1 or 2 cups per day of the super expensive java is multiplied by 365 each year.
The numbers don’t lie. Easily hitting a thousand dollars a year for a single Starbucks’ drinker is scary enough…but when one considers it’s more likely that there are two consumers per household…with costs rising sharply for everyone…it’s a no-brainer to understand why there are fewer folks getting pumped up each day at Starbucks.
Like most Americans plagued by high costs right now…if there’s fueling up to do in the morning…it’s being done at the local gas station.