Discussion:
After CEO Howard Schultz acknowledged four years ago that Starbucks had lost its edge, the company heads into its shareholders meeting Wednesday with its stock high and a recovery stronger than many expected. In the four years since Howard Schultz swooped in to rescue it, Starbucks has grown up. Back then, with the stock and housing markets bombed and people eating meals and drinking coffee more at home, Starbucks' future was in question. Sales were sliding, and the stock sank so low that the Colombian National Coffee Growers Federation called for coffee-producing nations to make a bid for it. Shortly after returning as CEO, Schultz stood before shareholders drawn and contrite. "We have kind of lost our edge," he said at the company's March 2008 annual meeting. "I promise you, this will not stand." He was right on both counts. Starbucks ultimately closed nearly 1,000 cafes worldwide and slashed tens of thousands of jobs. It spruced up remaining stores and lowered the cost of
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More thoughtful, still innovative Starbucks back steaming hot
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