Starbucks announced this week, that it would be introducing breakfast meal deals in its US stores for $3.95, in response to the financial pressures faced by its customers.

The coffee chain claimed customers would save $1.20 on average per visit. At the end of January, Starbucks had announced plans to close a further 300 under-performing stores - 200 in the US and 100 internationally. However, details have yet to be released on whether UK stores will be affected. The proposed store closures are part of the company’s "cost-saving initiatives", which could see up to 6,000 employees out of a job worldwide.

Meanwhile, Starbucks opened its second coffee shop in Sofia, Bulgaria, in partnership with Greek firm, Marinopoulos Coffee Company - an authorised licensee of Starbucks International. Marino- poulos, which opened the first outlet in Bulgaria in November 2008, also partners Starbucks in Greece, Cyprus, Switzerland, Austria and Romania.