9 Hrs
Source:
Sky News
Starbucks to close 250 US cafes
Starbucks has announced that it will close an additional 250 stores in North America, representing about 1% of its total network of 18,000 outlets, in order to improve financial performance and phase out underperforming locations. This move is part of its efforts to boost results following a period of declining performance, coinciding with the closure of hundreds of stores a year ago and the elimination of 900 management positions. The new CEO, Brian Niccol, aims to enhance the customer experience and increase profits through initiatives such as the "Green Mizer Service." The company had previously announced plans to open around 600 to 650 stores worldwide this year, but with the financial update, it mentioned that it will open approximately 440 stores in fiscal year 2026.
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