Starbucks Books Solid Quarter, Decides to Become a Fast-Food Player After All

Starbucks is backing away from its long-held dislike of fast food to partner nationally with Subway. Its Seattle's Best Coffee brand will be in 9,000 Subway stores in the U.S. by the end of this year, and will move into more of the sandwich shops next year, CEO Howard Schultz told analysts during a conference call about its quarterly results Thursday. "Candidly, given the fact that fast-food players have gone after the breakfast business — specifically McDonald's — in such a big way, and made such a big push into coffee, their core competitors want to compete directly with them in that space," Schultz said.

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