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INDUSTRY NEWS
Decreased consumer spending hits major coffee chain
[MarketWatch]
Starbucks Corp. warned that fiscal second-quarter and full-year profit will decline because of decreased traffic at its U.S. stores and a “sharp weakening in the U.S. consumer environment.”
Starbucks has faced increased competition from rivals such as McDonald’s and Dunkin’ Donuts. Starbucks says while it’s noticed a decrease in the frequency of visits to its stores because of the economic pressures its customers are facing... read article
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