The crew over at Serious Eats, drew our attention to a Google Map of the recently-reported Starbucks closures posted on CNNMoney.com.
Isn’t the Internet great? Click the image below to see the 600 places where it’s shutting stores, down to the street corner. Any near you?
We lost one… between Phoenix and Tuscon. Kind of surprised me – we have so many of them. In Scottsdale we have one that is inside an Albertson’s…and in the Albertson’s parking lot there is another free-standing store. Less than a mile away there is another inside the Safeway, and across the street from that – another free-standing store. It’s pretty much like that all over town. I think even Snottsdalians have had to cut back on some things…I would be amazed to find that all these stores are big-time producers for the chain.
Tip of the iceberg.
Makes you wonder who is making the real estate calls in FL & Cali…
Part of the problem with retail real estate is the same thing as what’s wrong with corporate america and Wall St in general, long term decision making is not rewarded. Emphasis on quarterly results forces executives with 3 year contracts to mastermind short term plans that effectively rob the long term worth of shareholders’ stock. It’s as if everyone functions with their pedal to the metal 24-7. Unfortunately, this kind of pressure results in executives’ instructing the real estate department to get more sites, NOW! No one care about the long term, because no one will be in their same jobs in three years. A Very Inefficient System, replete with waste.