Starbucks says "it will thrive" right before telling landlords they must lower the rent

You’d think that’d be universally true, but I am reading about people kicked out of their apartments, shops forced out of their spaces. Plus, plenty of coffee shops, independent of not being able to pay rent, just won’t be able to survive the lockdown and subsequent downturn when things are opened again, as the shrunken number of customers dwindles revenue below sustainability. (For a number of restaurants, bars and cafes, this happened before the lockdown, even.) So… yeah, Starbucks is in the best position to weather current events and is going to have a lot less competition for a while.

Although also commercial real estate is going to be permanently devalued as businesses move a certain number of positions to stay-at-home and shrink their offices. (Which is already happening.) It’ll be interesting to see how it all balances out…

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