I guess Aussies aren't fond of overpriced, over-roasted coffee beans.....

[marmar]

from AP, via the NY Times:



Starbucks to Close 61 Coffee Shops in Australia

By THE ASSOCIATED PRESS
Published: July 30, 2008


SYDNEY, Australia — Starbucks will close more than two-thirds of its 84 stores in Australia by the end of the week under a cost-cutting plan announced Tuesday that will put almost 700 people out of work.

The closure of the 61 “underperforming” stores in Australia was the result of conditions specific to Australia that were not reflected elsewhere in the world, the chief executive Howard Schultz said in a statement.

“While this decision represents business challenges unique to the Australian market, it in no way reflects the strong state of Starbucks business in countries outside of the United States,” Mr. Schultz said. “There are no other international markets that need to be addressed in this manner.”

However, he said the closures were part of Starbucks’ strategy developed early this year to transform the company.

Starbucks Coffee International, a wholly owned subsidiary of Starbucks Coffee Company, will concentrate its business in Australia’s three largest cities. ......(more)

The complete piece is at: http://www.nytimes.com/2008/07/30/business/worldbusiness/30sbux.html?_r=1&oref=slogin

[Ian David]

1. That's because Starbucks doesn't sell beer. n/t

[bdf]

2. Not many Australian wannabe-yuppies either

They know they wouldn't impress their mates by drinking overpriced coffee, they'd only be showing their mates how gullible and stupid they are.