Who would have thought that a cup of coffee would make it this far? Just as the MEGA-Conglomerate Starbucks turns 40, it has something else to celebrate as well. While starting out as just a coffee shop, now its a chain restaraunt that ranks number 3 behind McDonald's and Subway, respectively. Although many other companies have thrown their hats in the ring of the designer coffee arena, Starbucks still stand 'tall'above all other contenders.
When measured by sales dollars, McDonald's (MCD) tops the chart, and Subway comes in second. Starbucks is No. 3, according to a study by research firm Technomic. Not too shabby for a company that closed thousands of stores and went through its own mini-crisis during the economic recession.
This doesn't bode too well for Wendy's and Burger King which used to rank in the 2nd & 3rd slots behind McDonalds. Looks like these two companies will be busy in the next few months to strategize some better marketing plans.
Starbucks shares have zoomed 30% in the last year to $37.18.
The company is expanding beyond the coffee shop, and it plans to get more products into grocery stores. Starbucks is even joining the K-Cup mania, working out a deal with Green Mountain Coffee Roasters (GMCR) to offer its brew for Keurig machines.
Congrats to Starbucks and Happy Birthday!!!!!
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