US EditionStarbucks Just Announced It’s Closing Hundreds of Stores. Is Yours On This List?
Starbucks will close 1% of North American stores and cut 900 non-retail jobs as part of a $1 billion plan to improve profitability amid declining sales and competition.
- Starbucks CEO Brian Niccol announced on Thursday the closure of about one percent of its North American stores, including four locations in Alabama.
- The closures follow ongoing sales declines and operational challenges, leading Starbucks to review its portfolio and target underperforming stores.
- Employees have begun clearing closed stores like the Liberty Parkway location in Vestavia Hills, with signs posted offering support to affected partners during the transition.
- Niccol explained that the decision to close more than 200 stores by the end of the year was driven by challenges in delivering the quality of space desired by both customers and employees, as well as concerns over the financial viability of certain locations.
- This restructuring, part of a $1 billion plan, aims to streamline operations and refresh over 1,000 stores, but analysts warn near-term revenue may decline and investors will need patience.
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Starbucks closing stores in Canada and U.S. Here’s what we know
Starbucks plans to close stores in Canada and the U.S. and layoff about 900 nonretail staff jobs.
Starbucks Closes Hundreds of North American Stores Amid Restructuring, Including Two in Santa Monica
Starbucks Corp. announced the closure of hundreds of underperforming stores across North America as part of a broader $1 billion restructuring plan aimed at revitalizing the coffee chain's operations. The move, which includes laying off approximately 900 non-retail employees, comes after six consecutive quarters of declining same-store sales and is expected to reduce the company's North...
Starbucks Is Closing Stores and Cutting Jobs. Will It Save the Stock? @themotleyfool #stocks $SBUX
Key PointsAs the latest step in its turnaround effort, Starbucks announced a net closing of about 200 stores this year.The company is also cutting 900 non-retail jobs.CEO Brian Niccol remains optimistic about the company's turnaround. These 10 stocks could mint the next wave of millionaires › It's been one year since Brian Niccol took the top job at Starbucks (NASDAQ: SBUX). The move surprised industry observers. Niccol had earned a reputation a…
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