Starbucks announced the closing of 600 U.S stores. The worlds largest coffee chain is taking a hard economic hit because 
of the housing market and the pinch at the pump. Starbucks drinkers are giving up thier frapaccinos in order to fill thier tanks.
“I don’t think it’s overly surprising,” says analyst. “These stores were in aggregate unprofitable.” Shares in Starbucks rose as high as $16.53 in after-hours trading Tuesday after closing at $15.62. They have fallen about 24 percent this year. Is it really such a bad thing that these stores are closing, starbucks has been brewing up thier over priced coffee for years and people were buying for years. The signs of this bad economy actually made consumers realize that 4 dollar coffee cups may just not be worth it?
The chain was known for their aggressive amount of chains, 
that as well was not as neccessary seeing as how we just started to notice the downfall in the economy. As of september the store operated 6,793 outlets in the U.S. Also, about 70% of the stores that will be closing down had just been opened only three years prior.
The store also says that in the next fiscal year they will be opening 200 new stores compared to the 250 new stores intially planned. Maybe this economy was an eye opener. Consumers actually realized that starbucks should not be on thier list of neccesities. Now, with fewer chains of coffee opening, things are looking like they should have been years ago.
