Top 100: 63. Starbucks

Top 100: 63. Starbucks
Tags: Top 100 Retail
April 4, 2011

During the Great Recession, Starbucks found itself bruised by rising costs and the cannibalizing effects of years of overexpansion in an economic climate that had most people reassessing their daily spending habits on luxury items, exacerbated by stiff competition in espresso drinks from the likes of McDonalds and Dunkin’ Donuts. In the dark days of early 2009, Starbucks announced it would cut thousands of jobs and close 300 stores, but the fortunes of the chain have improved greatly since then. In the spring of 2010, Starbucks’ profit rose more than eightfold and the company announced its first dividend to be paid in cash to investors.

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