Yesterday, Starbucks (SBUX) announced that it would be closing 600 stores and cutting 7% of its workforce, as a result of the decline in consumer confidence that have lowered its stock price more than 50% in the last two years.

Analyst David Palmer of UBS predicted this negative trend at Starbucks back in his January interview with TWST, and went into detail with us about what’s gone wrong with the coffee giant. Click here to read the exclusive interview.

Also take a look at TWST’s interview with now CEO of Starbucks back before the current slowing trend. Click here read the exclusive interview with CEO Howard Schultz.

This entry was posted on Wednesday, July 2nd, 2008 at 3:29 pm and is filed under Consumer Stocks. You can follow any responses to this entry through the RSS 2.0 feed.