Paul McCartney could not save Starbucks (SBUX). His deal to distribute his music in the big coffee chain did it little good. It hit another 52-week low today at $28
But, perhaps the two things are related. Starbucks has gotten fairly far from its roots. Of course, the company believes it is helped by selling breakfast sandwichs, donuts, music, coffee makers, mugs, and newspapers. And, perhaps they are right. But, it makes Wall St. nervous. Lost focus.
More than competition from McDonald’s (MCD) or any other coffee/fast food operator, it’s focus that Starbucks seems to be missing.
That, and a better share price.
Douglas A. McIntyre can be reached at [email protected]. He does not own securities in companies that he writes about.
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