Too Many Starbucks May Be A Real Money Problem, Says Wall Street Firm

BMO Capital Markets, a financial services firm, downgraded Starbucks (NASDAQ: SBUX) shares from outperform to market perform Wednesday after its research showed that there were too many Starbucks. There are, on average, over three Starbucks in a one-mile radius of every other Starbucks. “Cannibalization likely has increased,” wrote BMO analyst Andrew Strelzik in the company’s analysis. “Strong new store performance appears to be coming — at least in part — at the expense of...

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