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CEO: Starbucks Perking Up

After drop in third quarter, coffee chain's sales improved in October

By Ambreen Ali,  Newser User

Posted Oct 29, 2008 6:14 PM CDT

(Newser) – Starbucks' CEO says the company is percolating again and may have hit bottom in the quarter that ended in September, the Wall Street Journal reports. The chain again saw declining sales, says Howard Schultz, but he also noted a “slight improvement” in October. Starbucks has been shutting stores, and it plans to add loyalty cards to keep customers buzzed amid a spending slowdown.

Starbucks is selling coffee at Costco with a 20% discount.
Starbucks is selling coffee at Costco with a 20% discount.   (Business Wire)
The chain may have hit its bottom last month, CEO Howard Schultz says.
The chain may have hit its bottom last month, CEO Howard Schultz says.   (AP Photo)
Loyalty cards offer 10% discounts to customers on most products.
Loyalty cards offer 10% discounts to customers on most products.   (AP Photo/Elise Amendola)
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Howard Schultz • Starbucks • Costco • coffee • quarterly results • economy

 
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