by Bill McBride on 4/23/2008 06:27:00 PM
Wednesday, April 23, 2008
Citing "the sharp weakness in the U.S. consumer environment," ... Starbucks said U.S. comparable-store sales fell by the mid-single digits on a percentage basis amid lower traffic. ...Just another company reporting disappointing sales.
The company Wednesday highlighted California and Florida, which have been two of the hardest-hit states during the housing downturn ...
"The current economic environment is the weakest in our company's history, marked by lower home values, and rising costs for energy, food and other products that are directly impacting our customers," said Chairman and Chief Executive Howard Schultz.
Posted by Bill McBride on 4/23/2008 06:27:00 PM