Another Defeat For Starbucks (SBUX)

Howard Schultz, the CEO for life at Starbucks (SBUX) recently told Portfolio magazine all about his plans to turn around the company. The editors should not have bought a word of it.

In the face of a disintegrating US business, the company announced that it would close approximately 600 underperforming company-operated stores in the U.S. market. The PR spin on the news was astonishingly transparent. SBUX called it part of a “multi-faceted plan to transform the company.”

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