Schultz told them of his own rise from poverty in Brooklyn with a homespun story that Teather says
verged on the hokey but, in the end, captivated the listeners who were all part of a social program that Starbucks sponsors. He told them that he had once been in a similar place: "I was fearful, I
was insecure, I was somewhat angry, you know: 'Why don't I have the same privileges as everybody else?'"
Schultz also announced yesterday that Starbucks saw a 4% gain in same-store sales and profits of $353 million for its first quarter, a 200% boost. And he admitted to other gaffes in the past, such as his company's rapacious quest to grow in the face of a shifting economy. "The big issue I think was that growth is not a strategy, it is a tactic, and if growth becomes a strategy I don't think it is an enduring one. I think growth covers up mistakes."
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