Business at Starbucks remains strong despite weakening sales at other major restaurant chains, months of economic turmoil, CEO says
October 3, 2011
– Starbucks CEO Howard Schultz said business remains very strong despite weakening sales at other major restaurant chains and months of economic turmoil, Reuters reported Sept. 30.
Schultz said in a telephone interview that Starbucks “is having its best year and our business remains strong.”
Meanwhile, Darden Restaurants Inc. – whose restaurant portfolio includes Olive Garden, Red Lobster and LongHorn Steakhouse – said diners at its establishments ordered fewer appetizers, drinks and desserts during its fiscal first quarter ended Aug. 28.
This type of frugal behavior from diners should continue for the balance of the company’s fiscal year, albeit at a slightly more moderate level, Darden said.
The primary source of this article is Reuters, London, England, on Sept. 30, 2011.