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Thursday morning, Starbucks (NASDAQ: SBUX) CFO released a statement saying that the company would fall short of analyst estimates for the current quarter.
CEO Howard Schultz tried to calm the market by saying that SBUX would come out of this recession a stronger, leaner company as a result.
Interestingly, Schultz laid it on thick with his view that the company would not let go of its premium blend brand that it had worked so hard to create. In plain English, he is saying that the company will not lower prices, even if the economy is in the toilet.
OK there, Howard, you tell them!
What an idiot!
Do you not see Golden Arches in your sleep, Howard? I would if I were you.
McDonald's (NYSE: MCD) product is as good or better, and it is sold at a significantly lower price.
Are you intentionally trying to destroy your company?
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