Some people are addicted to love. Others are addicted to drugs. I'm addicted to Target. Seriously....
Thursday, July 3, 2008
Will Target lose their Starbucks?
With Starbucks all over the news – announcing the closing of 600 stores, or about 8.5% of its 7,100 total outlets – it makes me wonder whether any of the closures will be those housed in Target stores? Late in 2002, Target and Starbucks announced the agreement to roll-out Starbucks coffee shops in all new (or newly remodeled) Target stores. That deal represented a significant expansion opportunity for Starbucks back when it was inked 6 years ago. I can’t find exact stats for how many Target stores contain a Starbucks outlet, but based on the fact that Target Corporation builds some 100-120 new retail stores every year, there could potentially be upwards of 500 Starbucks outlets connected to Target stores alone. The question is: are Target’s Starbucks among those slated to be shuttered?
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