Wednesday, July 30, 2008

30th July 2008


I think it is good news for people who love coffee.

Coffee chain Starbucks gives free refill to customers because of the credit crunch. The company is worried about the exodus of customers since the financial squeeze. It will run indefinitely in all UK and Irish outlets. Sales were in decline because customesr are avoiding a luxury product. Until then , the company plans to close 600 branches in the US. But Starbucks said it still looked on Britain as a growing market. It plans to open 100 more shops here before the end of September. It is to close 61 of its 84 Australian shops.

NEW WORDS

exodus (n) : a situation in which a lot of people leave a particular place at the same time
squeeze (n) : a situation in which wages,prices,borrowing money etc.are strictly controlled
indefinitely (adv) : for an indefinite period of time (= you do not know how long it will last)

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