COFFEE INDUSTRY NEWS: Starbucks net income drops 97%

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New York Times stated on Nov. 10, 2008, "In a sharp economic downturn, fewer people are in the mood to indulge. On Monday, the chain reported net income dropped 97 percent, capping a turbulent year in which the company tried to get ahead of the economic slowdown by closing stores and laying off employees."

Also, "Starbucks is now slowing the proliferation of its stores, which made it ubiquitous in American cities, but also a source of comedy to many. The company plans to end the 2009 fiscal year with 225 fewer company-owned stores than at the beginning of the year."

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On a side note, if going to Starbucks each day is getting hard for you, Vienna Coffee Company invites you to make your own specialty drinks at home with our selection of Espresso coffees. We also are a supplier of at home espresso machines. Likewise, supporting the small local coffee shops around you is always a big help to your local economy, especially during the economic downturn!

(These are images of Grounded in Maryville, Tennessee and Brown Cup Coffee Co. in Lenoir City).