Losses double at coffee company

COSTS associated with the closure of more than 20% of Starbucks’ Irish outlets contributed to pre-tax losses which more than doubled last year.

Filed accounts for the Irish operations show the number of Starbucks coffee shops was cut from 23 to 17 last year, leading to an increase in pre-tax losses of 102%, from €1.62 million in 2009 to €3.28 million in the 53 weeks to October 3, 2010.

It is estimated that the closures contributed to a 10% decline in sales, from €18.1m to €16.1m and a loss of 46 jobs, as staff costs fell from €6m to €5.1m.