Starbucks to close another 250 coffeehouses in North America
The closures come a year after Starbucks shut down several underperforming stores in the region.
Starbucks announced plans to close an additional 250 underperforming coffee shops across North America, as part of CEO Brian Niccol's ongoing efforts to boost sales. This follows a series of store closures earlier this year, including the Seattle headquarters, which cost the company around $1 billion. The new closures will result in about $300 million in restructuring charges and account for 1% of Starbucks' roughly 18,000 stores in the region.
The company aims to complete most of these closures by the end of fiscal year 2026. Niccol, who has been leading Starbucks since September 2023, has implemented measures such as shorter wait times, simplified menus, and cost-cutting initiatives to revitalize the brand. Despite challenges, Starbucks reported four consecutive quarters of comparable sales growth as of July.
The company has also revamped its loyalty program and introduced new offerings like protein cold foam to attract customers.
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