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The Recession just hit Starbucks.

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Starbucks had a horrible Q1 2024 earnings report, reporting a huge drop in transaction volume and sales. As fewer people go to Starbucks to purchase overpriced coffee and lattes.

This is a signal that Starbucks is having problems on the corporate level. While there's also a broader slowdown in consumer spending in America on food. Particularly at fast food restaurants like Starbucks, Mcdonalds, and KFC.
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