AOL; Time Warner; Starbucks
How about some internet time with your non fat, splenda sweetened, decaf latte?
Time Warner, the world's biggest media company,
reported Q1 net income fell 36%. Profit at AOL plunged 73% while sales at Time Warner Cable rose 8% as net income declined 12%.
AOL lost 647K Internet-access subscribers during the quarter, bringing the user base at the end of March to 8.7 million.
The business has lost more than half of its customers in the past two years.
Starbucks, last week forecast its 1st annual profit decline in eight years.
Two quarters of U.S. customer declines erased almost half the company's stock market value.
The world's biggest chain of coffee shops has closed stores and retrained employees to make espressos,
just as record gas prices, a stalled housing market and soaring food costs prompt consumers to cut spending.
CEO Howard Schultz: "The current economic environment is the weakest in our company's history."
Same store sales have been hurt by lower sales in California and Florida.
The states account for 32% of retail revenue and 31% of company owned stores in the U.S.
Consumers in those states "have been especially impacted by the effects of the downturn in the housing market."
Time Warner, the world's biggest media company,
reported Q1 net income fell 36%. Profit at AOL plunged 73% while sales at Time Warner Cable rose 8% as net income declined 12%.
AOL lost 647K Internet-access subscribers during the quarter, bringing the user base at the end of March to 8.7 million.
The business has lost more than half of its customers in the past two years.
Starbucks, last week forecast its 1st annual profit decline in eight years.
Two quarters of U.S. customer declines erased almost half the company's stock market value.
The world's biggest chain of coffee shops has closed stores and retrained employees to make espressos,
just as record gas prices, a stalled housing market and soaring food costs prompt consumers to cut spending.
CEO Howard Schultz: "The current economic environment is the weakest in our company's history."
Same store sales have been hurt by lower sales in California and Florida.
The states account for 32% of retail revenue and 31% of company owned stores in the U.S.
Consumers in those states "have been especially impacted by the effects of the downturn in the housing market."
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