Starbucks to close 250 stores in North America
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Neutral summary
Starbucks announced it will close about 250 cafes in North America, roughly 1% of its locations in the region, by the end of this week. The move is part of CEO Brian Niccol's multi-year turnaround plan to revitalize the brand and boost profitability. The company said the affected stores either aren't delivering acceptable financial results or can't provide the experience it wants for customers and employees. Staff at impacted locations will be offered transfer opportunities or severance, according to the chief operating officer. This is not the first round of closures: a year ago Starbucks shut several underperforming stores in the region, including its flagship roastery in Seattle. Earlier this year, the company also cut hundreds of white-collar jobs. Handelsblatt reports the closures will cost the company $300 million. The company did not specify which cafes will close or how many are in the U.S.
How it was framed
Outlets: 13. Countries: 7. Facts in the shared core: 1.
Publication timeline
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CNBC (outlet profile)
Starbucks to shutter about 250 stores in latest round of cafe closures. Starbucks will close about 1% of its North American cafes in the latest stage of its turnaround.
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Business Insider (outlet profile)
Starbucks is closing 250 stores. Read the memo it sent to staff.. The closures comes as Starbucks pushes hard to bring customers back into stores and returns to its core coffee offering.
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The Independent (outlet profile)
Starbucks to close 250 stores in North America this week. Starbucks plans to close 250 North American stores later this week
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N1 Srbija (outlet profile)
Starbaks planira da zatvori 250 kafića u Severnoj Americi. Lanac kafića Starbaks (Starbucks) planira da do kraja ove nedelje zatvori 250 svojih objekata u Severnoj Americi.
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Nova.rs (outlet profile)
Starbaks planira da zatvori 250 kafića. Lanac kafića Starbaks (Starbucks) planira da do kraja ove nedelje zatvori 250 svojih objekata u Severnoj Americi.
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Forbes (outlet profile)
Starbucks Closing 250 Stores In North America—Here’s Why. The company’s chief operating officer said it would support staff at impacted stores with transfer opportunities or severance.
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El Comercio (Perú) (outlet profile)
Starbucks cerrará 250 locales en Norteamérica: cuándo y por qué
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El Economista (outlet profile)
Starbucks anuncia que cerrará otras 250 cafeterías en Norteamérica. Estos cierres se producen un año después de que Starbucks clausuró varias tiendas con resultados insatisfactorios en la región, incluida su emblemática…
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New York Post (outlet profile)
Starbucks to close another 250 stores after CEO axed hundreds of white-collar jobs. The locations targeted either aren’t delivering acceptable financial results or can’t provide the kind of experience that Starbucks wan…
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The Independent (outlet profile)
Starbucks to shutter 250 ‘underperforming’ stores across North America. Coffeehouse locations will close by end of the week, company said
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Valor Economico (outlet profile)
Starbucks fechará mais 250 cafeterias na América do Norte como parte do plano de recuperação. A Starbucks anunciou, nesta quinta-feira (24), uma nova rodada de fechamento de unidades nos Estados Unidos e no Canadá. A co…
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Valor Econômico (outlet profile)
Starbucks fechará mais 250 cafeterias na América do Norte como parte do plano de recuperação. A Starbucks anunciou, nesta quinta-feira (24), uma nova rodada de fechamento de unidades nos Estados Unidos e no Canadá. A co…
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Handelsblatt (outlet profile)
Unternehmen: Starbucks schließt 250 Filialen in Nordamerika. Die US-Kaffeehauskette setzt ihren Sparkurs fort und gibt unrentable Standorte auf. Die Schließungen kosten den Konzern 300 Millionen Dollar.
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The Independent (outlet profile)
Starbucks announces it’s closing hundreds of locations by end of week
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InfoMoney (outlet profile)
Starbucks anuncia novo fechamento em massa nos EUA: 250 lojas a menos. A empresa não informou nesta quinta-feira, 24, quais cafeterias serão fechadas nem quantas delas estão localizadas nos Estados Unido The post Starbu…
Factual core
- Starbucks is closing 250 stores in North America.