McHENRY – Local bakers remain sweet on cupcakes, despite the crumbling stock price of one of the industry’s major players and gloomy forecasts about the future for the gourmet treat.
Cupcake makers around the country took notice last week when the Wall Street Journal published an article with the headline “Forget Gold, the Gourmet-Cupcake Market Is Crashing.” The report focused on the sinking stock price of Crumbs Bake Shop Inc., a New York-based chain with 67 locations in the United States. The company’s stock traded slightly above $1 this week after hitting a peak above $13 in 2011.
The market for high-end cupcakes has become saturated and Continue reading