Gourmet cupcake shops infest America’s cities, proffering paper-wrapped pastries top-heavy with icing, selling single servings for the price of whole supermarket pies. The trend has been rising with yeasty vigor for over a decade — until now.
The cupcake fad is officially over. “The icing is coming off America’s cupcake craze,” says the Wall Street Journal, noting the collapse of share prices in Crumbs Bake Shop Inc.:
“After trading at more than $13 a share in mid-2011, Crumbs has sunk to $1.70. It dropped 34% last Friday, in the wake of Crumbs saying that sales for the full year would be down by 22% from earlier projections, and the stock slipped further this week.”
— “Forget Gold, the Gourmet-Cupcake Market Is Crashing,” Emily Maltby and Sarah E. Needleman, Wall Street Journal
More:
“The cupcake bubble has finally burst,” Carmel Lobello, The Week
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Tags: bakeries, business, cities, city life, cupcakes, fads, fairy cakes, food fads, pastries
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