No need for mass hysteria. Starbucks is only closing for 3 hours starting at 5:30 p.m. today.
CEO Howard Schultz announced today that 7,100 of its stores across America will close to re-train and energize baristas. Schultz, who took over the helm last month, wants baristas to share their passion for making espresso.
The USA Today story says he wants them
"to pull the perfect shot, steam milk to order and customize their favorite beverage." The retraining is part of Starbucks' refocusing on the coffee customer experience.
I call it a great way at manipulating the media to get air time since the announcement was picked up by media across the country. Starbucks is fighting back against would-be rivals looking to knock the top coffee dawg off the No. 1 place.
According to this Bloomberg story in November, Starbucks' shares fell the most in almost five months in New York trading after the company lowered its profit and sales forecasts following a first-ever decline in U.S. customer visits. The shares dropped 93 cents, or 3.9 percent, to $23.17 at 4 p.m. in Nasdaq Stock Market composite trading, the most since June.
Breathing down its neck are McDonald's, which is upping its coffee game, and Dunkin Donuts, which already sells a pretty mean cup o' joe. Both, I believe, are cheaper than Starbucks.
I'm not sure what the 3 hour closure will accomplish, but I'm pretty sure it will have nothing to do with bringing down prices, which is the reason I use for not frequenting Starbucks more often. I find it hard to justify spending $1.60-plus every day for my caffeine fix, especially when I take my coffee black with no frills.
What do you think of the 3-hour closure? Is it a smart idea or a desperate marketing ploy?
(photo courtesy of stock.xchng)
