Oh Starbucks. Where Art Thou?

I love Starbucks. Sumatra Extra Bold goes into my coffee maker at home, Grande Soy Latte is my choice at the Starbucks on the corner. I like that they have a low-fat turkey bacon sandwich hiding among the fatty Top Pot donuts, and I like that they have books they recommend and music they sell (not that I ever buy either…I just like that they do it).

I also own Starbucks stock–which I bought at $34. But the stock is at $16.41 as I write this. I don’t like that. Actually, I don’t like it at all. But who would.

Starbucks Corp., which is about 4 miles from my front door, has decided to slow down its expectations for U.S. stores because of our current economic situation, which sucks. The situation–not the U.S. stores part. Well, actually, maybe both.

The S Corp, however, is planning on ‘aggressive’ international expansion. Good, I suppose, because even though I do love the place, living in Seattle you sort of get the feeling that there’s a Starbucks on every corner. Actually, I think I have seen more than one location where there actually are little green mermaids across the street from eachother. As an American, I don’t know if I want to see that much of one company.

Let Starbucks grow abroad!

The company has plans to open almost 1,000 stores internationally this year alone. By the end of 2011 Starbucks will have around 21,500 stores worldwide. That, my friends, is a lot of coffee. Here in the U.S. (and I am guilty of this myself), U.S. consumers are buying less lattes. And less drips, and frappuccinos, and…you get the point. Part of it has to do with the hit we’ve taken on housing. Seems those affected by the housing crash can’t afford $4.00 coffee.

Revenue rose 12 percent to $2.53 billion from $2.26 billion in the year-ago quarter.