Financial Times FT.com

Starbucks goes skinny as froth withers

By Jonathan Birchall in New York

Published: July 2 2008 20:05 | Last updated: July 2 2008 20:05

As US consumer demand started to falter last summer, Starbucks was opening new company-owned stores in the US at the rate of three a day.

But on Tuesday the world’s largest coffee retailer decisively put its foot on the brake, with Peter Bocian, chief financial officer, bidding farewell to the era of growth that has made Starbucks’ green and white sign a symbol of urban America.

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