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In Venti Retreat, 600 Starbucks to Close

Starbucks Coffee, once the fast-growing darling of the retail world, said yesterday that it was closing 600 U.S. stores and cutting as many as 12,000 jobs as it tries to right-size itself in the face of stiffer competition, a bleak economy and growth that appears to have outpaced demand.
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By Michael S. Rosenwald