At the company’s 18th annual shareholder meeting in Seattle on Wednesday, the chief executive (of Starbucks–ed.) told shareholders he aims to knock down the “myth” that Starbucks coffee costs $4 a cup. Schultz also insisted the company is well aware of the impact that lost jobs and foreclosures are having on its customers. Listen to analysis of McDonald’s and Starbucks’ performance during the recession.
“We’ve become the poster child for excess. … We are going to dispel this myth about a $4 cup of coffee,” Schultz said near the end of his 70-minute presentation to shareholders. In fact, he added, most of the company’s beverages retail for less than $4.
How about the truth that it attains mediocrity as a standard?