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Quick Hits: Starbucks Postpones World Domination

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Brief scrutiny of today's headlines.

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The truth can now be told: Starbucks (SBUX) has released the store locations it plans to close by the end of the month.

But there's no need to resort to sackcloth and ashes just yet: There's sure to be another store around the corner.

Earlier this month, Starbucks announced plans to close 600 locations, or about 8.5% of its company-operated stores in the United States.

The announcement marked at least a temporary halt to what some have called the company's plans to take over the world.

The economic squeeze from rising gas and food prices, combined with increased competition from Dunkin Donuts and McDonald's (MCD) combined to take a bite out of Starbucks.

Anyone coming down with a case of the jitters might want to check out Peet's Coffee & Tea (PEET), Caribou Coffee (CBOU) or privately held International Coffee & Tea. Of course, some say Starbucks Coffee isn't the best anyway.

The closures will hit about 12,000 employees, or approximately 7% of Starbucks' global workforce. This assumes that each store employs about 20 full- and part-time workers.

One final cosmic question: Does the closure of all those Starbucks mean the sun will no longer rise in the east?

No positions in stocks mentioned.
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