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If it goes to rent, it's not profit by definition. That's just a cost, same as any other. Starbucks made 32B in 2022 with a profit of almost 22B.
by allset_ 3y ago
If it goes to rent, it's not profit by definition. That's just a cost, same as any other. Starbucks made 32B in 2022 with a profit of almost 22B.
- 8note 3y agoI wouldn't doubt that Starbucks is paying rent to Starbucks, and that is a tax evasion scam
- sgerenser 3y agoNope, almost all Starbucks locations (like most restaurants and retail establishments) are leased from commercial real estate holding companies and investors.
- somedude895 3y agoThat 22B is gross profit and highly misleading in this context, since it excludes fixed costs like rents and salaries and also taxes. Net profit was 3.3B in 2022.
- bombcar 3y agoNet profit was $1 a drink or so, apparently.