BusinessStarbucks to Close Hundreds of StoresStarbucks to Close Hundreds of StoresThe Associated PressIn a sign that the company's galloping growth days may are over, Starbucks announced Tuesday they are closing some 600 stores nationwide. (July 2)There's been a recent joke among some -- a new Starbucks is opening in the parking lot of Starbucks. An exaggeration -- but a testament to the galloping growth of the company over the past decade.SOT: I'm openly and unabashedly married to the idea that I need a Starbucks on every corner. But the days of seeing several of the green-and-white mermaids on the same block may be over. The company says it's closing 600 latte landmarks in the next year. roughly 12-thousand barristas and other workers -- will be affected. It's not known yet which stores - but the closures will be spread across the country. The news quickly percolated through the caffinated world -- SOT: It seems the company was doing so well - there's a Starbucks opening inside a Starbucks sometimes -- they're everywhere, I never thought they'd have to close anySOT: well the economy's such a mess I guess it's not too surprising. Economic trouble has been brewing for a while at the company. shares have been plummeted over the past two years, but jumped a bit on news of the cutbacks. Still - Even with the announcement -- many say they're pretty sure they'll still be able to get their fix. SOT: "even with 600, I'm sure there'll still be one on every corner "SOT: there's two or three on every corner .. Why do you need so many? Well, if you're counting -- there's about 16-thousand-200 Starbucks around the world. ___ ___, The Associated Press.(****END****) ANCHOR VOICE: Jon Belmont -------------------------VIDEO PRODUCER: David Bruns ------------------------------VIDEO SOURCE: File, AP video --------------------------VIDEO APPROVAL:------------------------------VIDEO RESTRICTIONS:----------------------------------SCRIPT/WIRE SOURCE:------------------------------------
