On Wednesday Starbucks (Symbol: SBUX) announced that it plans to expand its European operations in 2008.
Currently, two stores are planned. Sofia will be the base for the Bulgarian store and Lisbon will be home for the Portuguese store.
Starbucks didn’t announce opening dates, but this may be the first of many as the company looked to extend its leverage overseas.
The news comes as Starbucks’ stock at least temporarily halted its freefall. Three months ago the stock was near $30. This week it neared $20.
Starbucks closed Thursday at $20.53—a 2.50% increase from the previous day’s close.
With more than 15,000 coffee shops through out the U.S. and 42 other markets worldwide, investors are wondering when the decline will cease.
Starbucks stock is down 47% on the year. It opened 2007 at $35.60.
My name is Jason A. Martin. I'm an investor/trader, financial writer and entrepreneur. This is my blog. I also run a social media integration & cross-media design company. If you'd like to follow me on twitter, here's the link: Jason A. Martin
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My name is Jason A. Martin and this is my investment blog. Back in Jr. High School I fell in love with an electrical wiring company's stock on Wall Street. After following the stock daily in the papers—the Internet wasn't around back then—I sent them a letter and they sent me back all sorts of wonderful information about their company.
In High School, we had a stock market contest. All the kids were picking companies that made stuff they consumed. When I announced my beloved company, I was laughed at. Little did they know that my company was going to be the subject of a takeover soon.
Long story short, I won the contest and have made money in the stock market, through real estate investing, currency trading and so forth.
I hope you enjoy Financial Rebel. If you do, please leave your comments and share this site with those you know.
Jason
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